Issues Investors Should Consider Before the End of 2020

Issues Investors Should Consider Before the End of 2020

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3 towards the end of the year- and there should be like obviously this is an ongoing process so it should be too strenuous but taking a look at it making sure that you're not leaving money.

On the table it's most.

Pretty alright i'll realize losses within a portfolio to all six.

Just look back at the last twelve months taking a look back to plan ahead for the next twelve i'm getting an idea of any fines that might pay out capital gains for the year that you might be responsible for the taxes on that so getting a hand.

You know what that looks like- another thing this year thanks.

If you are required to take money out of an irate that is your own or that you've inherited you can actually deferred twenty twenty so you know.

You don't really want her to taxes you can kind of just kicked out over the next year i need.

Water just don't take the money out of planning ahead for income changes so if this was a you know a really.

Your i understand what the pandemic- there may be something that you want to do just to plan ahead for the future- same thing if it was if you're on the other side of the c.

I.

P.

And you had a banner year.

On the new one you planning ahead mattacks standpoint so that might be things like.

You know you have a look- minimizing your future tax liability by contributing or converting files to.

Your using your your players off for one k.

Same thing if you're looking for greater- deduction this.

Year okay.

Making sure the- at four oh one k.

Creed accounts.

Obviously this year has been great for people giving to charity every scene a lot of that happen a lot donating food.

Great to see what specially around the holidays we see that we see an uptick in activity right getting to st jews are healing.

With the cures act is also initiated this year is an additional.

Three hundred dollar.

Deduction for twenty twenty and if you have other tax situation you might want to look at it going or- if you're gifting is pretty system year after year is probably a great idea for you.

Now business owners.

Making sure that your- checking to see if you're eligible for a quality.

This income deduction if you're looking to set up a solo four oh one k.

For example do that by the end of the year and then there's other just low hanging fruit right so contribute to.

Hsa maximum for a family is seven thousand one hundred.

It should be a five twenty nines making sure that you are you have an fsa you have a kid in daycare mark i have.

Two of them so i'm using the net essay make.

At the end of the year.

And here's the last thing so it's a- perfect time.

I think mom and dad would continue there's a fifteen thousand dollar per year per child per go neat.

Donation you can make a gift they make that's going to give tax free look it's chris.

We're just we're only getting and the giving spirit so want to take advantage of something like that which is better benefits you in reducing the overall- este look at estate planning there but that's kind of just what we cover sort of high level- looking we're looking for the new year.

Again keep more money and our clients pockets.

Making sure that they take for granted.