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The new year brings a new tax season and the opportunity to advise clients on ways to save money on their taxes.

On because people see that he's not going to get there in s terms of the numbers is quites s disheartening for republicans. >> all right. >> let me ask. all right. if you're gloating about that, let me ask you about this 20 .ar >> twenty two is the worst yeara for the stock market since tworn thousand and eight. d that the cbo has found that biden's inflation cost the average american household ten thousand dollars. and jo raisehole biden did make a promise that i'm sure you remember that he wouldn't raise s on ttaxes on those making und0 four hundred thousand dollars a year.,0 coupl family, a...

Portfolio reviews and retirement contributions are at the top of to-do lists of Morningstar, AARP and industry groups.

By a record $2,000. what's your advice there? >> we, yes, i mean, a lot of people have 401(k)s and i.r.a.s. if you want to bump up your 401(k), you're starting to run out of time to do it. you basically have to request a higher withholding for your 401(k) on your paycheck and probably at this point, there's only a couple more, at most, a couple more paychecks before the end of the year. the i.r.a. is a different story. you have until the tax filing due date, april 15th. i think this year, it will be april 18th, to max out your i.r.a. contribution for 2022. so you have a little more time there ...

Deferring income, why? we want to lower the taxable income. there were some things you can do. first of all, maximize your contribution to your retirement plan and specifically iras. you can put in $6,000 or if 50 and above, $7,000. also get a 401(k) and take advantage of that, especially because many employers will match your contribution. recall that to cofor her. so you want to take advantage of that. next, a lot of people in the economy getting 1099s. that means you are self-employed. so there are deductions you can take advantage of that you normally wouldn't. make sure you keep all the s...