With December officially underway, everyone is taking a look at the year that was — and what they can do to finish off on the right step.
Should you max out your Roth IRA? Does it make sense to cash in some losing stocks to write it off on your taxes? Are there any government credits or subsidies ending that you can take advantage of?
To find out what you should be doing, PT Money offers up Ten Financial Moves to Consider Before 2009 Ends.
1. Have you fully funded your 401(k)?
2. What about Making a Traditional IRA or Roth IRA contribution?
3. How about harvesting some losses?
4. Are you considering buying your first home or upgrading your current home?
5. How about some energy credits?
6. Got kids in college?
7. Have you considered prepaying some deductible expenses now?
8. Have you spent all that FSA money?
9. Have you changed jobs this past year?
10. Is it time for a portfolio review?
Specifically looking at taxes, Kiplinger’s offers up Year End Tax Tips. Some of these may not be applicable to your situation, but you never know what moves can affect your taxes. Look for this: most overlooked tax deductions.
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Finally this week, Laura at Five Cent Nickel writes about Handling Financial Setbacks. Specifically, she’s having a problem with the purchase of her house, but the advice she offers up works for anyone who has seen a setback in their financial path.
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