Before year-end you could have employed many strategies to help with possible 2015 tax savings. Although you might have missed those opportunities, potential options are still available that could make this tax-filing season cheaper and easier.

January has passed at lightning speed, and we are at the time of year when many have given up on their New Year’s resolutions. Gyms tend to get very busy after the first of the year while purchases of health food and exercise paraphernalia increase dramatically. Financial resolutions are also very popular. As the clock strikes midnight on January 1^st, “I want to save more” or “spend less” are common goals. As February rolls around, many can become discouraged if they have not accomplished what they declared they would after the ball drops.

A client recently asked if there was a standard amount that people should give to charity each year. She donates throughout the year but wondered if she should be giving more or if her amounts would even make a difference. I offered to do a little research and present my findings.

As October seems to have gone by at warp speed, we find the holiday season rapidly approaching.  While many can feel overwhelmed, with good planning, the season can be enjoyed both personally and financially.  Setting a realistic holiday budget and making sure to stick to it are the first steps to a more affordable and less stressful season. 

An expression people repeat over and over is “the one constant is change”. In our business, we are often consulted as a result of changes such as a new job, marriage, divorce, death, and relocation. In the past few months, I have seen several cases in which, amidst these changes, beneficiaries were not updated or changed on accounts, and the result was detrimental.