Five financial moves to make before year-end:

1.   Boost your 401(k)
contribution – a particularly smart move if you are expecting a bonus of some
kind.

2.   Fund 529 accounts – the accounts allow funds to grow tax-free as
long as they are used for qualified education expenses.  Pennsylvania residents can deduct contributions
from their Pennsylvania taxable income up to $14,000 per beneficiary per year.
Married couples can deduct up to $28,000 per beneficiary per year, provided
each spouse has taxable income of at least $14,000

3.   Take the required minimum distribution from your IRA.  For those turning 70 ½ this year, there is
some tax planning for taking your first payment – you have the option to take
it before New Year’s or you can delay it until April 1, 2014.

4.    Harvest capital losses on stocks, bonds, and mutual funds – you
can use capital losses to offset any capital gains; plus, you can deduct  $3,000 against your wages, interest,
dividends, pensions, and social security income.

5.   Bunch
together your tax deductible expenses in the years when out-of-pocket medical
payments are high.