Episode 38: Year-end Tax Planning 2018


Mark Doran, Senior Tax Director, joins Doug Fabian (a Mercer Advisors financial advisor) for this episode of the Science of Economic Freedom financial planning podcast to discuss tax strategies for year-end tax planning. If you wait until after December 31, you will miss out on significant opportunities to improve your tax preparation situation when April 15 arrives.

The end of the year is the time to take a look at your personal finances to identify any future events that could affect your taxable income, and come up with steps to lower your overall taxes.


The year is almost over, and that means now is the time to think about something very serious. That something is taxes, and right now, before the year is over, you still have time to manage your tax situation and to minimize the impact of taxes on your economic freedom.

In the latest episode of the Science of Economic Freedom, “Year-end Tax Planning 2018,” I speak with Mark Doran, Senior Tax Director for Mercer Advisors. Mark has over three decades as a CPA helping families, plan, manage and file their income taxes, and that makes him the perfect expert to turn to for guidance on year-end tax planning.

According to Mark, this is the time of year to identify any future financial events that will significantly increase or decrease future years’ taxable income. It’s also the time to come up with tax strategies to minimize your overall tax costs.

In this timely podcast, Mark and I discuss diverse tax issues such as:

  • Deferring income and accelerating deductions
  • The many significant changes in the tax laws and how to approach them
  • Minimizing or eliminating the 3.8% Net Investment Income Tax
  • How to harvest capital losses and implement capital loss carryovers
  • The new deduction limits and how to maximize charitable deductions
  • Using retirement planning to defer taxable income
  • The new rules of Qualified Business Income (QBI) and how to plan properly
  • Plus, much more…

With a little more than one month to go before the year is over, now is the time to act. If you wait until after December 31, you will miss out on significant opportunities to better manage your overall tax situation come April 15. And after listening to this episode, you’ll be much better prepared to ask your financial advisor the right questions and implement the right actions for your tax situation.

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