Fourth quarter TouchdownLike in a football game, the fourth quarter is critical. Finishing the game strong will prepare you to win and help you to get ready for next year. To succeed at the financial game you need to look over your investments and tax exposure. You are more likely to be victorious if you make adjustments now as the fourth quarter begins. We examine a few of the factors you might want to consider.

First look at how successful you were in the third quarter. Did you meet your investment goals? Are you happy with your results and are you preparing for your next tax return?

What tax free and tax deductible accounts are you contributing to? This could be a good time to maximize your contributions to those accounts for 2019.  Determine whether you want to put that money into traditional or Roth IRAs.

It’s not too early to plan for and contribute to your favorite non-profits and charities. Don’t wait until the last minute and miss the deadline. Be sure you are supporting those organizations which are legitimate according to the tax code.

If you own a small business, purchase equipment and other office necessities like software, office supplies, printers, new computers and similar items which are qualified expenses to deduct according to the IRS.

Look at your tax withholding and make necessary adjustments. Many people were surprised when they did not evaluate this with the new tax code last year. Prepare this year. Have your circumstances changed and made an impact? These events include marriage and divorce, a new child in the family, changes to employment by the taxpayer or his or her spouse and unemployment during the year among other things.

These factors are a partial list of what you will want to investigate to prepare for the fourth quarter effectively. This is a lot to think about. However, if you consult with a Certified Financial Planner (CFP) and a CPA, you can get the help you need to take the necessary steps to score and win.

Les Merritt has unique qualifications to help you and your family. As a CFP and a CPA, he can review and make suggestions that will benefit you. Furthermore, his experience can positively impact not only your current investments, but also help prepare you for your tax liabilities for your next return. Call Les Merritt today at (919) 269-8553 to set an appointment. You will be ready for the fourth quarter and you can set a winning strategy for you and your family.

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