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10 things to consider before year end

Here are ten things that you might consider doing before the end of the year to ensure that you are well-prepared for tax season and have your financial and investment plans in order:

  1. Review your tax withholding. If you have had too much or too little tax withheld from your paychecks throughout the year, you may want to adjust your withholding to ensure that you have enough withheld to cover your tax liability.

  2. Make charitable donations. If you are planning to make charitable donations, it may be beneficial to make them before the end of the year in order to claim a deduction on your tax return.

  3. Contribute to a retirement account. If you are eligible to contribute to a retirement account, such as a 401(k) or IRA, you may want to consider making a contribution before the end of the year in order to take advantage of any tax benefits.

  4. Review your investment portfolio. If you have investments, it may be a good idea to review your portfolio before the end of the year to ensure that it is well-diversified and aligned with your financial goals.

  5. Consider tax-loss harvesting. If you have investments that have decreased in value, you may want to consider selling them in order to realize a capital loss and offset capital gains, which can reduce your tax bill.

  6. Update your estate plan. If you have not already done so, it may be a good idea to review and update your estate plan, including your will, trust documents, and beneficiary designations.

  7. Review your insurance coverage. If you have insurance coverage, such as life insurance, health insurance, or homeowner's insurance, it may be a good idea to review your coverage to ensure that it is sufficient and meets your needs.

  8. Create a budget. If you have not already done so, it may be a good idea to create a budget to help you track your spending and ensure that you are saving and investing enough to meet your financial goals.

  9. Take advantage of year-end sales. If you have been considering making a major purchase, such as a car or appliance, it may be worth waiting until the end of the year to take advantage of any year-end sales or discounts.

  10. Review your financial goals. Finally, it may be a good idea to review your financial goals before the end of the year to ensure that you are on track to meet them and to make any necessary adjustments.


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