Year End Tax Moves You Can't Afford to Miss from Daniel and Imran Razvi

As the calendar year winds down, tax planning opportunities begin to narrow — and once December 31 passes, many valuable strategies are no longer available. Thoughtful year-end planning can reduce current tax liability, improve long-term outcomes, and create more flexibility in retirement. At Higher Ground Financial Group, year-end tax decisions are viewed not as isolated tactics, but as part of a broader, integrated financial plan.

Drawing on insights from Daniel Razvi, tax attorney, and the firm’s planning philosophy led by Imran "Raz" Razvi, here are three year-end tax moves that deserve close attention.

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1. Maximize Retirement Contributions While Being Intentional

One of the most straightforward — and most powerful — year-end tax strategies is maximizing retirement contributions. While IRA and Roth IRA contributions for the year can typically be made until the following April, employer-sponsored plans such as 401(k)s must be funded by December 31.

Traditional retirement contributions can lower taxable income today, but the decision shouldn’t stop there. Future tax implications matter just as much. Pre-tax savings may create significant required minimum distributions (RMDs) later in life, potentially pushing retirees into higher tax brackets. Effective retirement income planning weighs today’s deduction against tomorrow’s tax bill, helping clients strike the right balance between tax deferral and long-term efficiency.

2. Evaluate Roth Conversion Opportunities Before Year-End

Roth conversions remain one of the most impactful — and time-sensitive — year-end planning tools. To count for the current tax year, conversions must be completed by December 31. While converting assets from a traditional IRA to a Roth IRA triggers taxes today, it allows future growth and qualified withdrawals to occur tax-free.

A key consideration is how the tax on the conversion is paid. Using funds outside of retirement accounts preserves more assets within the Roth structure, maximizing long-term benefits. Another strategic approach is converting only enough to “fill up” a lower tax bracket, avoiding unnecessary tax exposure.

For individuals who expect higher taxes in retirement or who want to reduce future RMDs, Roth conversions can play a central role in long-term planning — particularly while tax rates remain historically favorable.

3. Review Investment Gains and Rebalance Strategically

Strong market performance can create opportunities — and risks — inside taxable investment accounts. Year-end is an ideal time to review unrealized gains and consider whether realizing some gains now could be beneficial. In certain situations, long-term capital gains may even be taxed at a 0% rate, depending on overall income.

Harvesting gains can also support broader planning objectives, such as generating cash to pay Roth conversion taxes, rebalancing portfolios, or shifting assets into more tax-efficient structures. When done intentionally, this strategy can reduce future tax exposure while improving overall portfolio alignment.

Daniel & Imran Razvi’s Approach to Coordinated Year-End Tax Planning

Year-end tax planning isn’t about chasing deductions — it’s about aligning tax decisions with long-term goals. By coordinating retirement contributions, Roth conversions, and investment strategies, families can reduce uncertainty and improve outcomes over time.

At Higher Ground Financial Group, Imran Razvi and Daniel Razvi emphasize integrated planning that connects tax strategy with retirement income planning, risk management, and legacy goals. The final weeks of the year offer a valuable opportunity to take control — and the right guidance can make all the difference.