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Here are some things to consider as you weigh potential tax moves between now and the end of the year.

In a tumultuous economy, many have a close eye on their current savings and retirement plans and are hesitant to make changes.

If you are 50 or older, or you will reach age 50 by the end of the year, you may be able to make contributions to your IRA or employer-sponsored retirement plan above the normal contribution limit.

In tax lingo, your principal residence is the place where you   legally reside. It's typically the place where you spend most of your time, but several other factors are also relevant in determining your principal residence.

A portion of your benefits may be subject to income tax if your modified adjusted gross income (MAGI), plus one-half your Social Security benefits, exceeds specific limits.

In an early July poll, 58% of Americans said they thought the U.S. economy was in a recession, up from 53% in June and 48% in May.[1]

Have you recently started a new job or considering changing in the near future? What will you do with your existing 401(k)? A couple options you have are to put the funds into an IRA (Individual Retirement Account) or roll the balance into your new employer’s 401(k) plan. Here are some reasons to consider each: