Are your financial & personal documents in order for the end of the year and tax time??
October is here and for you that pay estimated income taxes quarterly, its time to send it those checks for Federal and State income taxes.
Although, this years taxes are not due in the middle of April of next year, many of us may need to get prepared.
For businesses, end of year purchases, and prepaying some expenses and bills can get a few dollars in extra deductions for this year. Your Accountant or Tax Preparer may can offer some advice in activities to lower your tax burden for this year and to prepare for next year.
If you haven’t been making deposits made to your IRA or other retirement vehicles, now can be a good time to look into setting these up or funding them..
Now is also a good time to go over your personal and business documents such as insurance, wills & testaments, powers of attorney, and health care paperwork to prepare for end of life events to make sure your survivors are properly taken care of.