With just a few days left of 2012, now is a good time to be sure you’ve done everything you need to before the year is over. Below is a list of common items to be sure you’ve thought about before the clock strikes midnight on New Year’s Eve.
- Be sure you’ve used up any funds in your Flexible Spending Account (FSA), or have a plan to do so in the first few months of next year if your plan allows it.
- Consider sending in your 4th quarter state estimated tax payment early, so you can deduct it this year.
- Make any last donations, document your giving, and gather up your donation receipts.
- Consider making your January mortgage payment in December instead. This will shift the interest on that payment into this year, which you can deduct this year.
- If you’re able, be sure you’ve maxed out your retirement plan contributions for the year.
From all of us to all of you, have a safe and enjoyable New Year!