Your Year-End Financial To-Do List

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Alamy Here are 10 ways to take advantage of tax breaks, financial strategies and opportunities to boost your savings by year-end. 1. Add more money to your 401(k). You can contribute up to $17,500 to your 401(k) for 2013 ($23,000 if you're 50 or older or will be by the end of the year), and you have until Dec. 31 to reach that limit. You can't just add extra money into the account yourself; the pre-tax contributions must be made through payroll deduction. Ask your employer's payroll department what steps you need to take to increase your contributions starting with your next December payday. Some employers also let you contribute a lump sum directly from a year-end bonus, before the money is paid and taxed. See How to Increase 401(k) Contributions for more information about giving your retirement plan a boost at the end of the year.