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Essential Year-End Tax Strategies for Warner Bros. Discovery Employees: What You Need to Know Before 2023

Healthcare Provider Update: Healthcare Provider for Warner Bros. Discovery: As of 2025, Warner Bros. Discovery offers healthcare coverage through various major insurers, including UnitedHealthcare and Anthem Blue Cross Blue Shield, as part of their employee benefits package. The specifics may vary based on employee location and individual plan options. Potential Healthcare Cost Increases in 2026: In 2026, Warner Bros. Discovery, like many companies, may face significant increases in healthcare costs due to a combination of factors influencing the insurance market. With projections indicating a rise of up to 75% in out-of-pocket premiums for consumers, the potential expiration of enhanced federal ACA subsidies stands out as a critical factor. Additionally, anticipated medical cost inflation, alongside rising expenses from employers shifting health insurance costs to employees, could lead to both higher deductibles and premium hikes, making healthcare less affordable for many. Click here to learn more

Here are some things for Warner Bros. Discovery employees and retirees to consider as they weigh potential tax moves between now and the end of the year.

1. Defer income to next year
Warner Bros. Discovery employees must consider opportunities to defer income to 2023, particularly if you think you may be in a lower tax bracket then. For example, you may be able to defer a year-end bonus or delay the collection of business debts, rent, and payments for services. As a Warner Bros. Discovery employee, doing so may enable you to postpone payment of tax on the income until next year.

2. Accelerate deductions
Warner Bros. Discovery employees and retirees should also look for opportunities to accelerate deductions into the current tax year. If you itemize deductions, making payments for deductible expenses such as medical expenses, qualifying interest, and state taxes before the end of the year (instead of paying them in early 2023) could make a difference on your 2022 return.

3. Make deductible charitable contributions
As a Warner Bros. Discovery employee, if you itemize deductions on your federal income tax return, you can generally deduct charitable contributions, but the deduction is limited to 50% (currently increased to 60% for cash contributions to public charities), 30%, or 20% of your adjusted gross income (AGI), depending on the type of property you give and the type of organization to which you contribute. (Excess amounts can be carried over for up to five years.)

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4. Bump up withholding to cover a tax shortfall
As a Warner Bros. Discovery employee, if it looks as though you will owe federal income tax for the year, consider increasing your withholding on Form W-4 for the remainder of the year to cover the shortfall. Time may be limited for Warner Bros. Discovery employees to request a Form W-4 change and for their employers from Warner Bros. Discovery to implement it in time for 2022. The biggest advantage in doing so is that withholding is considered as having been paid evenly throughout the year instead of when the dollars are actually taken from your paycheck. This strategy can be implemented by Warner Bros. Discovery employees to make up for low or missing quarterly estimated tax payments.

5. Save more for retirement
Deductible contributions to a traditional IRA and pre-tax contributions to a Warner Bros. Discovery-sponsored retirement plan such as a 401(k) can reduce your 2022 taxable income. As a fortune 500 employee, if you haven't already contributed up to the maximum amount allowed, consider doing so. For 2022, Warner Bros. Discovery employees can contribute up to $20,500 to a 401(k) plan ($27,000 if you're age 50 or older) and up to $6,000 to traditional and Roth IRAs combined ($7,000 if you're age 50 or older).* The window to make 2022 contributions to a Warner Bros. Discovery-sponsored plan generally closes at the end of the year, while you have until April 18, 2023, to make 2022 IRA contributions.

*Roth contributions are not deductible, but Roth-qualified distributions are not taxable.

6. Take the required minimum distributions
If you are a Warner Bros. Discovery employee age 72 or older, you generally must take required minimum distributions (RMDs) from traditional IRAs and Warner Bros. Discovery-sponsored retirement plans (special rules apply if you're still working and participating in Warner Bros. Discovery's retirement plan). You have to make the withdrawals by the date required — the end of the year for most individuals. The penalty for failing to do so is substantial: 50% of the amount that wasn't distributed on time. As a fortune 500 employee, making these distributions in a timely manner is essential as to avoid the late penalty.

7. Weigh year-end investment moves
Warner Bros. Discovery employees and retirees shouldn't let tax considerations drive investment decisions. However, it's worth considering the tax implications of any year-end investment moves that you make. For example, if you have realized net capital gains from selling securities at a profit, you might avoid being taxed on some or all of those gains by selling losing positions. As a Warner Bros. Discovery employee, any losses over and above the number of your gains can be used to offset up to $3,000 of ordinary income ($1,500 if your filing status is married filing separately) or carried forward to reduce your taxes in future years.

Tags: Financial Planning , Tax , Retirement , 2022

What type of retirement savings plan does Warner Bros. Discovery offer to its employees?

Warner Bros. Discovery offers a 401(k) retirement savings plan to help employees save for their future.

Does Warner Bros. Discovery match employee contributions to the 401(k) plan?

Yes, Warner Bros. Discovery provides a matching contribution to employee 401(k) plans, subject to certain eligibility requirements.

How can employees at Warner Bros. Discovery enroll in the 401(k) plan?

Employees at Warner Bros. Discovery can enroll in the 401(k) plan through the company’s HR portal or by contacting the HR department for assistance.

What is the eligibility criteria for Warner Bros. Discovery's 401(k) plan?

Employees must be at least 21 years old and have completed a specified period of service to be eligible for Warner Bros. Discovery's 401(k) plan.

Can employees at Warner Bros. Discovery take loans against their 401(k) savings?

Yes, Warner Bros. Discovery allows employees to take loans against their 401(k) savings, subject to plan rules and limits.

What investment options are available in Warner Bros. Discovery's 401(k) plan?

Warner Bros. Discovery's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

Are there any fees associated with Warner Bros. Discovery's 401(k) plan?

Yes, there may be administrative and investment fees associated with Warner Bros. Discovery's 401(k) plan, which will be disclosed in the plan documents.

How often can employees change their contributions to the 401(k) plan at Warner Bros. Discovery?

Employees at Warner Bros. Discovery can change their contribution rates to the 401(k) plan on a periodic basis, typically at least once a year or during open enrollment periods.

What happens to the 401(k) savings if an employee leaves Warner Bros. Discovery?

If an employee leaves Warner Bros. Discovery, they can roll over their 401(k) savings into another retirement account, cash out, or leave the funds in the Warner Bros. Discovery plan if permitted.

Does Warner Bros. Discovery offer financial counseling for employees regarding their 401(k)?

Yes, Warner Bros. Discovery provides access to financial counseling services to help employees make informed decisions about their 401(k) savings.