There are some tricks that you can use if you’re close to hitting the standard deduction threshold to pass it:
- Donate stock you’ve held for a year or more to charity
- Prepay a charitable donation for next year during this year instead
- Pay your state income taxes prior to the end of the year (if you know that you’re going to have a balance)
This might be able to save you money this year even if you use the standard deduction again the year after. If you’re interested in these, or if you want to find a better selection for you personally, let us know!