Have you tidied up for the end of the year close out? Here are some tips and tools to do right now. Have a date with your finances, here's why....
1. Go Extreme on your 401K. If you can take a chuck or what you can of your last pay and invest it into your retirement savings
2. Sign up for a financial class to help you map out 2017 better.
3. If you are Youthful Meaning 70 1/2 you must withdraw a set amount each year from your employer retirement plan.
4. Claim next years deductions. Send in January mortgage this month along with your property taxes. Get a jump start
5. Make your last donations to the good will or charity of your choice for a tax write off for contribution
6. Spend your FSA (Flex Spending Account) Use it or loose it!
7. Sell stock. You can offset the tax hit and even cut ordinary income by up to $3000 by selling poor performance at a loss.
8. Switch to a Roth. If you are in a lower tax bracket his year than you expected to be, change to an IRA to a Roth. You'll pay tax on the convert amount for 2016, then never owe tax on that money again. Just make sure the amount is small enough to keep you in a low bracket.
End the year on good cash Flow
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