Fiscal cliff looming? Ten tax moves to make now.

Americans are facing an unprecedented tax increase of nearly $500 billion on Jan. 1, 2013, from the so-called "fiscal cliff." Are you ready? Here are 10 year-end tax strategies I recommend:

9. Use only tax-efficient or index funds in your taxable accounts

Pat Wellenbach/AP/File
In this April 2012 photo, Maine Gov. Paul LePage takes a sip out of a coffee mug where a 'no new taxes' message is displayed on the bottom of the cup at his office at the State House in Augusta, Maine.

Preferred tax treatment for qualified dividends is on the way out. The rate on long-term capital gains is going up. Move any inefficient stock funds to your IRA and Roth.

Taxable accounts should hold only low turnover or passively managed funds that minimize taxable distributions. 

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