Year-End Tax Planning Checklist

Posted by Anna Traugh on September 30, 2022

The end of September evokes multiple reminders for many of us. It is time to get winter clothes out, make sure the leaf blower is working, trade out hiking boots for ski boots, and start preparing for the end of the year. We form many rituals when the seasons change, and I propose adding one more to the list, year-end tax planning. This is not as fun as prepping for the holidays and Winter adventures, but it should help reduce mistakes, minimize panic in the last week of the year, and avoid regrets when you file your tax return the following year.

Below is a list of common items to address during this end-of-year check-up and a summary of the review that can be done:

The descriptions above are meant as an introduction to each topic and are intended to encourage a deeper review. Every individual’s tax situation is unique. Creating a tax plan requires knowledge of all the rules and therefore is best completed with the help of your CERTIFIED FINANCIAL PLANNER™ (CFP®) and a Certified Public Accountant (CPA.)

I hope this motivates you to complete a more in-depth review of your taxes this year. Let us know how we can help construct a tax plan and how these areas affect the rest of your financial picture.

Happy Planning!

Barry Betters, CFP®




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