End of the year financial tips - Chicago News and Weather | FOX 32 News

End of the year financial tips

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(WJBK) -

The end of the year will be here before we know it, and now is the time to be thinking about smart financial moves to be making to reduce what you owe to Uncle Sam and maximize your investments.

Lyle Wolberg from Telemus Capital Partners offers these tips:

· 3.8% Medicare Surtax makes year-end planning even more important

· Harvest losses to reduce current taxes

· Shift income investments into tax deferred accounts

· Consider a Roth IRA Conversion

· Make Non-Deductible IRA contributions

· Gifts to family members in lower capital gains brackets

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