Final Quarter Tax Deduction Strategies > 자유게시판

When the calendar flips into the last quarter of the year taxpayers scramble to wrap up the tax year with a clean slate and a favorable balance sheet.

The last three months—October, 期末 節税対策 November, and December—present a prime chance to claim deductions that lower your taxable income in 2024.

Whether you’re a small business owner, a freelancer, or a household with a mortgage and a growing list of expenses the proper steps can trim thousands from what you owe.

The following time‑sensitive strategies help you maximize deductions before year‑end.

1. Make a "Last‑Minute" Expense Checklist
Start by pulling together every receipt, invoice, and expense record from the past year.
Identify categories that are often overlooked:
Office supplies and equipment
Home‑office expenses (if you qualify)
Health‑related costs (medical, dental, and vision)
Vehicle expenses (business mileage or actual costs)
Professional development (courses, conferences, certifications)
Charitable contributions
The most important step is to gather everything before the December 31st cutoff even a small expense can add up when combined with other deductions.

2. Speed Up Capital Expenditures
Should your business have a capital budget, think about purchasing equipment, software, or machinery before year‑end Under Section 179, you can deduct the full cost—up to the limit—of qualifying property in the year it’s placed in service for many small businesses, this can provide a sizable deduction that would otherwise be spread over several years under depreciation.

Should your planned purchase exceed the Section 179 limit or you’re a larger entity, bonus depreciation still lets you take an extra 100% first‑year deduction on qualifying property Just make sure you file the appropriate forms (Form 4562) and that the assets meet the IRS criteria.

3. Make Retirement Plan Contributions
Individual retirement accounts (IRAs) and employer‑sponsored plans such as 401(k)s, SEP‑IRAs, and SIMPLE IRAs all offer tax‑deferred growth and deduction potential. Contribute before the April 15th deadline to cut your taxable income for 2024.
Traditional IRA: Contributions are deductible up to $7,000 (or $6,500 if you’re under 50) in 2024, contingent on your income and employer plan participation
401(k) or similar employer plan: Contributions capped at $23,000 in 2024, plus an extra $7,500 catch‑up for those 50 and older
SEP‑IRA or SIMPLE IRA: These are particularly valuable for self‑employed people and small business owners wishing to contribute a higher portion of income

Keep in mind that contributions by December 31st apply to the 2024 tax year, so avoid a last‑minute rush.

4. Maximize the Home‑Office Deduction
If you qualify for the home‑office deduction—i.e., you use a portion of your home exclusively and regularly for business—you can take either the simplified method (square footage) or the regular method (actual costs). In the last quarter, you may have already taken the simplified deduction, but if you’re still within the first year of using the space, you can still switch to the regular method for larger savings.

Key points:
Deduct utilities, rent or mortgage interest, property taxes, insurance, and part of your internet bill
Record detailed logs of business against personal use to substantiate your claim

5. Execute Tax‑Loss Harvesting
If you hold investments that have declined in value, the final quarter is the perfect time to consider a tax‑loss harvesting strategy. By selling a losing investment, you can offset capital gains realized elsewhere in your portfolio, reducing your overall tax liability. Avoid the "wash‑sale" rule: buying the same or a substantially identical security within 30 days before or after the sale negates the loss.

6. Charitable Contributions—Cash & Non‑Cash
Charity can be one of the most powerful deduction tools. Contributions of cash, stocks, or other appreciated assets are often deductible at fair market value, which can reduce the cost basis for the donor.
Donating appreciated securities lets you sidestep capital gains tax on the appreciation while still earning a deduction at full market value
Non‑cash contributions such as clothing, furniture, or vehicles require appraisal by a qualified appraiser if they exceed $500 in value
Retain a written acknowledgment from the charity and preserve the receipt for every contribution

7. Capitalize on Holiday Deductions
The holiday season can create legitimate business expenses that many overlook:
Gifts for employees or clients (up to $25 per person annually)
Marketing and promotional materials dispatched during the holidays
Travel and lodging for business trips over Christmas or New Year’s

Make sure to separate personal from business gifts and retain receipts that clearly demonstrate the business purpose.

8. Examine Medical & Dental Costs
If you’re close to reaching the threshold for medical expense deductions—currently 7.5% of adjusted gross income—then the last quarter may be the sweet spot to front‑load expenses. Pay for a deductible health plan, dental work, or even elective procedures before year‑end. Save all receipts, as you’ll need them to verify the deduction.

9. Prepay Estimated Taxes
If you anticipate owing taxes and want to avoid interest or penalties, consider making a prepayment of estimated tax. The IRS allows you to make a payment by December 31st that will count for the current year. This can be especially useful if you have a large deduction that brings your tax liability below zero; you can use the overpayment to offset the next year’s tax.

10. Monitor Tax Law Updates
Tax law is dynamic, and last‑quarter changes can affect deductions. For instance, the Tax Cuts and Jobs Act (TCJA) may still have provisions phased out by 2025 Stay informed about any extensions or modifications by checking IRS updates or consulting a tax professional.

11. File Correctly and Organize
Finally, no deduction is worth your time if you can’t document it. File the correct forms—Schedule C, Schedule E, Form 1040, etc.—and attach any necessary supporting documentation. Consider using tax software that flags potential deductions or consult a CPA to review your return before filing.

To sum up, the final quarter offers a strategic window to reap the benefits of diverse deductions Accelerating capital expenditures, maximizing retirement contributions, harvesting tax losses, and leveraging charitable giving can lower your taxable income and keep more of your hard‑earned money Plan, act, and document—then relax and enjoy the tax savings that result from a well‑executed strategy.