Some Thanksgiving roadtrippers this holiday will pay higher state gas taxes
Tax penalties, some increased in 2024 for inflation, could add to what you owe Uncle Sam

5 tax turkeys to avoid this Thanksgiving and beyond

Happy thanksgiving in script

Are you enjoying Thanksgiving? I hope so. And if your Turkey Day celebration extends, like it does for most of us, into Friday and the weekend, Happy Beyond Thanksgiving!

But when you're ready (or forced) to get back to your regular routine, you might want to make time to consider the items in the box below: five tax turkeys and how to avoid them. A few relatively easy tax moves in these areas could help make your tax life easier.

2023's Tax Turkeys 🦃 🍗 🦃 to Avoid

  1. Not adjusting your incorrect withholding
  2. Not collecting your employer's maximum 401(k) match
  3. Missing your state's 529 plan tax break deadline
  4. Not converting at least some traditional IRA money to a Roth IRA
  5. Leaving (and losing) money in your flexible spending account (FSA)
Seed and nuts turkey_no-revisions-UQgnqmQfpx4-unsplash1
Whether your Thanksgiving repast is the traditional bird, or the nuts and seeds that fashioned this fowl, or Texas smoked meats that the hubby and I enjoy, here's wishing you a full and fulfilling holiday. (Photo by No Revisions on Unsplash)

Marching toward tax tasks: I want to share one more thing I had to be thankful for this Thanksgiving, how well the Goin' Band From Raiderland represented my alma mater, Texas Tech University, at Macy's annual Turkey Day parade. You can check out a video at my tumblr blog Tumbling Taxes' November item that refers to the tax turkeys in this post.

You also might find these items of interest:



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