We get so excited about the upcoming holidays that we often overlook some important end of year financial issues. Here are a few items I think are important for you to review:

Have you maxed out your retirement savings?
Review your contributions to your company or individual retirement plan to make sure you have contributed as much as you can. Pre-tax contributions will save you on current income tax while Roth contributions will save you future taxation.
Review your itemized deductions.
One thing to look at is bunching your deductions. If you plan to donate the same amount of money each year, consider “bunching” the donations into a single year. This could increase your potential itemized deduction for that year. Consider using a donor-advised fund to spread out the giving while taking advantage of “bunching.”
Another are to look at is your property tax, it may be advantageous to pay this years and next year’s property tax at one time to increased your itemized deductions.
Check your Credit status.
Go to any one of the credit sites to make sure there are no surprises. Make sure the items listed are actually yours, check your credit scores, and look at the interest rates you may be paying to see if they =can be lowered.

A little bit of work can usher you into a financial healthy New Year.

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