Before welcoming the new year, maximize 2025 tax savings. Under the SECURE 2.0 Act, those under 59-1/2 can withdraw up to $2,500 for long-term care insurance without penalty, but must do so by Dec. 31. Energy credits for home improvements also end on that date.

Individuals over 50 can make catch-up contributions to 401(k) plans before Dec. 31, with extra contributions available for ages 60-63. Contributions are pre-tax, lowering taxable income, but withdrawals are taxed. IRA catch-up contributions can be made until the tax filing deadline.

Non-itemizers should wait to donate until after the new year for deductions, while itemizers should give generously by Dec. 31. Next year, only charitable contributions exceeding 0.5% of AGI are deductible. The 37% tax bracket will receive a 35% benefit from all itemized deductions in 2026.

Read more at Yahoo Finance: Less than 48 hours left in 2025. Use that time to save on taxes.