The end is near! The end of the year that is … And with that, December is a good time to get you finances in order and get ready to settle with the tax man. Here are some tips to get yourself ready for another year:
Set Your Budget for Next Year: Remember, a budget is simple:
• Money In – Money Out > 0 = Success.
The best way to do this is to create a table with 12 columns; one for each month. Start by listing your income towards the top. Then list all your bills and expenses. This strategy is usually a little more effective than just doing one generic monthly budget because it captures expenses that don’t occur every month or are seasonal (like Christmas expenses). This also lets you see how you’re doing throughout the entire year and if you will run into any problem areas.
Contribute: Before you file your income taxes, you’ll want to make sure you’ve maxed out your tax-deferred investments. This would include:
• IRA’s
• 529 College Savings Plans
Welcome to Part 3 of this series of posts. In 
In 
Congratulations if you are investigating, considering, or have already opened an IRA. If you are new to this subject, then this series of posts will be for you. To start, an IRA (Individual Retirement Account) is a special type of financial account that gives you special tax privileges. Although it is typically used for saving towards your retirement, it can serve a variety of purposes and save you a ton of money in taxes.
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