8 Smart moves to make by year end
These strategies will cut your taxes and prep you for the new year. But you have to act by Dec. 31.
By George Mannes, Money Magazine senior writer
Retirement
Get IRA smart
Are you (or a relative) older than 70 1/2? Be sure to take the required minimum distribution from your IRA by Dec. 31 (April 1 if you turned 70ス in 2006). Otherwise you'll get walloped by a 50% tax on the money you should have pulled out but didn't.

"It is astonishing how many people miss the deadline," says Jay Hutchins, a certified financial planner in Lebanon, N.H. And here's a new option: In both 2006 and 2007, you can donate up to $100,000 directly to charity from your IRA, by-passing the usual taxes on withdrawals - and the gift counts toward your required distribution.

Move quickly, though: The gifting deadline is Dec. 31. And because of the extra paperwork and logistics involved, some IRA administrators are setting deadlines earlier in December.
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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: テつゥ 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices テつゥ S&P Dow Jones Indices LLC 2018 and/or its affiliates.