Moves to make before year ends to save money on next year’s taxes

April 15 and the deadline to file your tax return is still a way off, but the time to start planning is now.

This year has been fairly quiet for tax changes, but there are still some important federal tax moves to consider before the end of the year that could save you some money.

First, if you have IRA money that you don’t need for living expenses and are at least 70 years old, you could get a tax break.

It involves withdrawing some of your IRA money and donating it directly to one or more qualified charities.

That will help you avoid higher Medicare premiums and keep more of your Social Security benefits from taxes.

Also, check to make sure you didn’t underpay taxes.

From withholding too little on job income to retirement-account withdrawals -- these things could trigger interest or possible penalties when you file a return later.

If you can afford it, advisers also suggest moving some of your 401-K or traditional IRA money into a Roth IRA.

Withdrawals from Roths generally aren’t taxed, and there are no annual required minimum distributions to meet with these accounts.

They can continue to build up in value over time, tax-free.

And before you accept and start a new job this month, find out which tax bracket you are in. That extra income could push you into a higher tax bracket, leaving you to pay more in taxes in 2023.

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This Emmy Award-winning television, radio and newspaper journalist has anchored The Morning Show for 18 years.