What Issues Should I Consider Before the End of the Year?
As the year comes to a close, many of us have a long to-do list to finish before the end of the year. Are you paying attention to your finances? Make sure to consider these issues before closing out 2019.
Do you have unrealized investment losses?
If so, consider realizing losses to offset gains or write of $3,000 against your ordinary income.
Are you charitably inclined and want to reduce taxes?
If so, consider bunching your charitable contributions every few years, which will allow you to itemize and reduce your taxable income.
Are you able to save more?
Consider contributing to your HSA or contributing extra to your employer retirement plan, such as a 401(k).
View Our Checklist
To see our full checklist of important issues to consider, click here.
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Robert J. Pyle, CFP®, CFA is president of Diversified Asset Management, Inc. (DAMI). DAMI is licensed as an investment adviser with the State of Colorado Division of Securities, and its investment advisory representatives are licensed by the State of Colorado. DAMI will only transact business in other states to the extent DAMI has made the requisite notice filings or obtained the necessary licensing in such state. No follow up or individualized responses to persons in other jurisdictions that involve either rendering or attempting to render personalized investment advice for compensation will be made absent compliance with applicable legal requirements, or an applicable exemption or exclusion. It does not constitute investment or tax advice. To contact Robert, call 303-440-2906 or e-mail info@diversifiedassetmanagement.com.
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