Tax season may seem far off, but waiting until New Year�s Eve to start planning, or worse � April 15th � could cost you money. It�s not how much money you make, but how much you keep that counts. Taking advantage of retirement plans, college funds and charitable contributions before year-end can help minimize your tax bill this year and benefit you over the long term.

Rande Spiegelman, vice president of the Schwab center for investment research: �Contributing to a retirement plan can reduce your taxable income, and your employer might match your contribution. If you don�t have a company retirement plan, consider an IRA. For college savings, consider opening a Coverdell Education Savings Account and/or a 529-college savings plan. Money in these plans can grow tax-deferred and may be withdrawn tax-free for qualified educational expenses. Also consider donating appreciated securities held for more than one year to a qualified public charity or donor-advised fund. You can receive a full fair-market-value deduction and pay no capital gains tax.�

For more on how to maximize your after-tax dollars and ultimately save at tax season, visit schwab-dot-com. Saving for your future can be a lot easier if you act now.

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