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2023 Year-End Tax Planning for Individuals

By Nate Miller, CPA

November 14, 2023
Picture of calendar, calculator, and magnifying glass.


As the year comes to a close, it’s important to think about your financial goals and make sure they align with your current and future financial commitments. At GC, we understand that effective year-end planning can help you improve your financial outlook. This is especially crucial given the current economic climate with rising interest rates and market volatility.

GC is dedicated to equipping you with the tools you need to make those important decisions from a source you can trust. Through our collaboration as independent members of the BDO Alliance USA, we can provide our clients with this detailed tax planning guide for individuals.

This guide aims to aid you in assessing and strategizing for the 2023-2024 tax landscape, enabling you to minimize, postpone, or expedite your federal tax responsibilities.

Within this document, you will find information on the following:

  • Income Tax Rate Brackets
  • Timing of Income and Deductions
  • Long-Term Capital Gains
  • Net Investment Income Tax
  • Social Security Tax
  • Long-Term Care Insurance
  • Retirement Plan Contributions
  • Foreign Earned Income Exclusion
  • Alternative Minimum Tax (AMT)
  • Kiddie Tax
  • State and Local Tax (SALT) Limitation
  • Charitable Contributions
  • Estate and Gift Taxes
  • Net Operating Losses and Excess Business Loss Limitation

Keep in mind that his information is based on federal laws and policies and does not cover specific state and foreign tax questions. This information is subject to change based on future legislative or tax policy decisions.

Download The Guide

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We are your resource and partner for tax planning advice. If you have questions, please contact us and remember to consult with your GC accountant or advisor before making important tax decisions.