10 Ways to Improve Your Finances Before Year-End

By Ben Steverman - 2011-12-12T16:43:49Z

Photograph by Caroline Purser/Getty Images

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Sell Losing Stocks

Selling losing investments before year-end may lighten your tax bill. These losses can offset taxes on capital gains and up to $3,000 of income. There are IRS rules to follow when replacing any sold stocks or funds. Some argue so-called "tax loss harvesting" is a short-term strategy that isn't worth the hassle. You'll eventually pay taxes on any gains anyway, says TABR's Medland.

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