Financial Planning Tip of the Month
It's that time of year again! The time most people dread. Tax Season!!!
Our advice is to take advantage of the time and effort you invest in preparing your tax return. Use filing your taxes as an opportunity to look for ways to improve your overall financial situation.
Can you make a 2016 IRA, spousal IRA, or Roth contribution? Would it make economic sense to perform a Roth conversion? Should you consider directing a portion of your 401(k) or 403(b) contributions to Roth?
Did you make you charitable donations/contributions? Could you benefit from using shares of appreciated stock as opposed to a check? Should you consider a Qualified Charitable Donation (QCD) from your IRA?
If any of these ideas sound interesting, give us a call to discuss how it may fit your personal situation.
We have been receiving a number of calls and emails asking about tax forms.
5498 (Contributions) and 1099-R (Distributions) forms for retirement accounts are available.
Consolidated 1099s (Interest, Dividends and Capital Gains) for non-retirement account are still being updated. This is very common. We anticipate 1099s to be available online next week.