(Photo By Flickr User reynermedia)

As the end of the year approaches, consider strategies that could help reduce your tax bill. Keep in mind that tips, suggestions and strategies are of little help—especially when it comes to year-end planning—without a good understanding of your current tax situation.

According to Busey Wealth Management, here are the Top 10 Tax Tips you need to know to end your year out just right:

1.Set aside time to plan. Procrastination can lead to missed tax-savings on December 31st.
2.Defer income to next year, especially if you may be in a lower tax bracket in 2018.
3.Look for opportunities to accelerate deductions.
4.Know whether you are subject to the alternative minimum tax.
5.Bump up withholding to cover a tax shortfall.
6.Maximize retirement saving contributions.
7.Take any required distribution.
8.Weigh year-end investment moves, considering the tax implications.
9.Beware the net investment income tax.
10.Get help if you need it.

To get more information on the 2017 Tax Tip, log online to www.busey.com, right now!!