All the Hacks: Money, Points & Life

End of Year Checklist for Your Taxes, Points and Miles

390 snips
Dec 10, 2025
As the year ends, crucial tax strategies are unveiled to maximize your deductions. Discover the benefits of donating appreciated assets and how bunching contributions can hedge against future limits. Learn about new deductions for car interest and seniors, alongside the mechanics of the mega backdoor Roth. For the travel-savvy, tactics for securing elite status and unmissable credit card perks come to light. Additionally, get insights on 529 plans and the new child investment accounts launching soon.
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ADVICE

Decide Standard Deduction Vs Itemize

  • Benchmark whether you'll take the standard deduction or itemize before year-end and plan moves accordingly.
  • Bunch deductions (prepay taxes, mortgage, charities) in high itemize years and take standard deduction in others.
INSIGHT

Higher SALT Cap Unlocks Itemizing

  • The SALT cap rose from $10k to $40k for many taxpayers under $500k income, unlocking itemizing for high-tax states.
  • This change can make prepaying state/property taxes and mortgage interest more valuable this year.
ADVICE

Donate Appreciated Assets Not Cash

  • Donate appreciated securities instead of selling then donating to avoid capital gains and get a full fair-market-value deduction if you itemize.
  • Hold assets >1 year and donate to qualifying charities to maximize tax efficiency.
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