Here are some last-minute opportunities for procrastinators to save a few bucks on their taxes


You can save up to $6,900 in this account for 2018 if you have a family insurance plan, or $3,450 if you have self-only coverage. Account holders who are 55 and older can kick in an extra $1,000.

Be aware that you can carry your HSA balance from one year to the next, so consider saving the money for the long-term.

“Once you cross a certain threshold, you can invest your money, like you would a 401(k), and you could have years of growth from compounding,” said Sharif Muhammad, CPA and certified financial planner at Unlimited Financial Services in Somerset, N.J.

Entrepreneurs, save in a SEP IRA: Do you run your own business? Consider opening a SEP IRA. Though the contribution limit for the SEP is $55,000 for 2018, the amount you can deduct for the contribution will vary based on your net earnings.

You have up until October 15 of this year to contribute and have it count for 2018.

“With the SEP, even if you opened it up after the calendar year-end, you have until the tax extension deadline to make the contribution in case you had difficulty of getting the funds together,” said Thomas O’Shaughnessy, senior director of Marcum Financial Services

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