Here are some things you might want to do before saying goodbye to 2014.
What has changed for you in 2014? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and 2015 begins.
Even if your 2014 has been relatively uneventful, the end of the year is still a good time to get cracking and see where you can plan to save some taxes and/or build a little more wealth.
Things you can do before & for 2015.
What financial, business or life priorities do you need to address for 2015? Now is a good time to think about the investing, saving or budgeting methods you could employ toward specific objectives. Some year-end financial moves may prove crucial to the pursuit of those goals as well.
What can you do to lower your 2015 taxes? Before the year fades away, you have plenty of options. Here are a few that may prove convenient:
Make a charitable gift before New Year’s Day. You can claim the deduction on your 2014 return, provided you itemize your 2014 deductions with Schedule A. The paper trail is important here.1