Just over a week from now a new year will begin – 2017! Are you ready? So much to do – travel, gifts to buy, family to visit, meals to prepare – the list seems endless. In the midst of all the end of year preparations, there are a few other items to put on your list. These aren’t in the fun category, but can make the entrance into 2017 much smoother and, maybe, even make this coming year the best ever.
Paperwork, a never-ending reality
This is a dreaded topic for many, yet it is there, lurking at the back of many minds. Here are a few things it makes sense to review:
- Have you used all your Flexible Spending Account (FSA) dollars for the year? If not, try to find an allowable expenditure before January 1st or you lose any money left in the account.
- Are there deductible contributions you would like to make? Again, the deadline is quickly approaching to affect 2016 taxes.
- Do you have a secure location to store all tax documents as they begin to arrive?
- Make a list of all important documents and their locations and provide to your executor or next of kin. It will give you peace of mind and bring searches for them to a minimum.
- Are your wills updated; do you have a Living Will; do you need to review insurance plans, or make a budget for the coming year that mirrors your goals?
- What are your goals personally, financially, and in your business for 2017? These provide a framework to help you accomplish them.
While there may not be time for all of this in the next few days, put these on a To Do List, along with others known to you, and make them priorities before January ends.
People make resolutions that are often thrown aside within a month – instead, make a solid plan with specific items, dates, and outcomes. Write these goals and keep in an easily viewed and accessed location. Finally, stick to your plan and if it begins to go off track, regroup and adjust, but continue. It will be worth the effort.
We at DuBose Law Firm wish you happy holidays and a new year that exceeds all expectations!