As December 31 creeps closer, many people in Manassas and across Northern Virginia start wondering whether they’ve done enough to avoid a painful tax bill next spring. The truth is, the biggest tax savings don’t happen when you file — they happen before the year ends.
At Brown, Mobley & Way PC, we help Northern VA families, homeowners, and retirees take advantage of the opportunities that disappear at midnight on December 31. This is the window where smart planning can reduce your taxes and position you for a stronger financial year ahead.
Below is a practical, easy-to-follow checklist for year-end tax planning — built specifically for individuals and families living in Manassas, Prince William County, and the surrounding Northern Virginia communities.
Why December 31 Matters More Than Most People Realize
Many of the most valuable tax-saving strategies are tied to the calendar year. Retirement contributions, charitable gifts, property tax prepayments, tax-loss harvesting, and many investment-related moves must be completed by December 31 to count on your next return.
If you wait until tax season to think about these things, you’ve already missed most of your options.
That’s why proactive planning — especially here in Northern VA, where property taxes and SALT limitations impact so many households — makes a huge difference.
7 Critical Year-End Tax Moves Every Northern VA Resident Should Consider
1. Review Your Income, Withholding & Estimated Payments
Before the year ends, take stock of your full financial picture.
- Estimate total income for the year
- Account for bonuses, investment gains, or side income
- Check if your federal or Virginia withholding is accurate
- Make an additional state or federal estimated payment if needed
A quick “trial run” calculation now can prevent surprises — and may reveal opportunities to reduce penalties or capture deductions.
2. Max Out Retirement, HSA & FSA Contributions
Retirement contributions are one of the most reliable ways to secure meaningful tax savings.
- Contribute to your 401(k), 403(b), Traditional or Roth IRA
- Increase year-end salary deferrals if room remains
- Confirm your HSA (and/or FSA) is fully funded or used
These accounts reduce taxable income or create long-term tax-free growth — both smart moves before December 31.
3. Consider a Roth IRA Conversion or Review RMDs
If you expect your income to rise or simply want future tax-free growth, a Roth conversion before year-end can be a strong strategy. Since the conversion counts in the year it’s processed, timing matters.
Also, if you’re required to take RMDs, make sure they’re completed before December 31 to avoid penalties.
4. Use Tax-Loss Harvesting to Offset Gains
If your taxable investment accounts have underperforming assets, selling them before December 31 can offset capital gains. This strategy can also reduce your AGI, which affects deductions and credits.
Just be sure to avoid wash-sale rules if you plan to reinvest.
5. Make Charitable Gifts, QCDs, or Fund a Donor-Advised Fund
Northern VA residents often overlook how powerful charitable giving can be at year-end.
You can:
- Donate appreciated stock (big tax benefit)
- Contribute cash to qualified organizations
- Make Qualified Charitable Distributions (QCDs) if you’re 70½+
- Fund a Donor-Advised Fund for an immediate deduction
All of these must be completed by December 31 for tax benefits.
6. Prepay Property Taxes or State Estimates (SALT Rules Apply)
In high-property-tax areas like Manassas, Gainesville, or Centreville, prepaying local property taxes or Virginia state taxes before December 31 may increase deductions — especially for families who itemize.
Because SALT deductions are capped, this needs careful evaluation, but for many Northern VA homeowners, the timing can produce real savings.
7. Review Gifts, Estate Plans & Future Legacy Moves
If you’re considering wealth transfers, year-end is a prime moment to use annual exclusion gifting or fund certain trusts.
Even small strategic moves can reduce future estate taxes and shift growth into the next generation — and many families prefer tackling this before the holidays wrap up.
How We Make Year-End Tax Planning Simple for Northern VA Families
Most DIY software misses Virginia-specific issues:
- Prince William County property tax timing…
- SALT deduction limitations for NOVA homeowners…
- Roth conversion thresholds for dual-income households…
- State-specific filing rules…
Our team at Brown, Mobley & Way PC has decades of experience helping Manassas and Northern VA residents make informed, confident decisions before the year closes.
We take a personalized approach — reviewing your goals, your current income picture, your investment activity, and your future plans — and we translate all of it into an easy-to-follow year-end strategy.
What to Expect When You Work With Us
1. Free 30-Minute Consultation
Tell us your goals and walk us through your financial picture.
2. Action-Focused Year-End Plan
We outline specific steps to take before December 31 — prioritized for maximum impact.
3. Support Executing Each Step
From Roth conversions to documentation, we help ensure everything is done correctly and on time.
4. A Clear Roadmap
We don’t just help you save this year — we help you plan for what’s ahead.
Serving Manassas & Northern Virginia with Local Expertise
Our office works with residents across:
- Manassas
- Prince William County
- Gainesville
- Haymarket
- Centreville
- Bristow
- Fairfax & Loudoun County
We understand the tax pressures of Northern VA — high real estate values, commuting income, dual-income households, and investment-heavy financial situations. That local knowledge helps us protect more of your income and maximize your financial position.
Frequently Asked Questions
Should I prepay my property taxes in Manassas before December 31?
In many cases, yes — especially if you itemize and are under the SALT cap. Prepayment can shift deductions into this year, lowering your tax bill.
Is a Roth conversion worth doing at year-end?
Often, yes. If your income is lower than usual this year or you expect higher rates later, a December Roth conversion can lock in long-term tax-free growth.
Can I still lower my taxes if it’s already mid-December?
Absolutely. Retirement contributions, charitable gifts, Roth conversions, and tax-loss harvesting can all be completed quickly — but the earlier you act, the better.
Do I need an accountant for these strategies?
Most year-end strategies involve nuanced rules (especially in Virginia). A professional can help prevent costly mistakes and identify opportunities you may not realize exist.
Ready to Reduce Your Tax Bill Before December 31?
This is the moment that matters most. Once December 31 passes, the door to these strategies closes — and your tax picture is largely set.
Call us today at (703) 361-9068 or schedule your free 30-minute year-end planning consultation. Let’s make this year’s tax season—and next year’s—work in your favor.
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