Don’t wait! Take these last-minute steps now to reduce your 2019 tax bill

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Abstract: As the year draws to a close, there’s still time for individuals to effectively reduce their tax bills. This article offers some useful strategies for year-end tax planning. It also suggests several steps individuals can take, including grouping deductible expenses together and making contributions to employer-sponsored retirement plans, that can help reduce their tax bill. A sidebar explains that it’s important for employees who have Flexible Spending Accounts (FSAs) to keep tabs on their FSA balances at the end of the year so as to avoid forfeiting money.