{"id":14538,"date":"2023-02-28T15:38:37","date_gmt":"2023-02-28T21:38:37","guid":{"rendered":"https:\/\/johnsonwim.com\/?p=14538"},"modified":"2024-01-29T11:37:46","modified_gmt":"2024-01-29T17:37:46","slug":"year-end-financial-planning-checklist","status":"publish","type":"post","link":"https:\/\/johnsonwim.com\/year-end-financial-planning-checklist","title":{"rendered":"Year-End Financial Planning Checklist"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"14538\" class=\"elementor elementor-14538\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-40a35f36 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"40a35f36\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5815c50b\" data-id=\"5815c50b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-12e53644 elementor-widget elementor-widget-text-editor\" data-id=\"12e53644\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Americans are notorious for overspending when the holiday season rolls around. While that may be good for the economy in the short term, it often ends up being bad for household budgets. Ultimately, though, overindulging a bit in spending during the holidays doesn\u2019t need to create hardships if you know your broader financial situation is in good shape. In fact, the last two months of the year are a perfect time to create and go over a Year-End Financial Planning Checklist, ideally in partnership with your financial advisor.<br \/><br \/><input name=\"gform_field_values\" type=\"hidden\" value=\"\" \/><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-c36deda elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"c36deda\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-35af96d\" data-id=\"35af96d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element 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While that may be good for the economy in the short term, it often ends up being bad for household budgets. Ultimately, though, overindulging a bit in spending during the holidays doesn\u2019t need to create hardships if you know your broader financial situation is in good shape. In fact, the last two months of the year are a perfect time to create and go over a Year-End Financial Planning Checklist, ideally in partnership with your financial advisor.<\/p>\n<p>The end of the year is the best time for this process because certain key financial deadlines fall on December 31. Beat them, and you\u2019ll improve your odds of enjoying your holidays knowing you\u2019re on track to meet your long-term financial goals, even if you decide to overspend a bit on gifts for the kids or grandkids. You can consider this year-end financial checkup a gift you give yourself! The items included on your checklist may vary depending on your age and situation, but if you are actively saving for retirement (especially if you are already retired or within 15 years of retirement), your Year-End Financial Planning Checklist should include the following:<\/p>\n<p>Taxes<br \/>\nThis is easily the most important and potentially beneficial area to examine before the year ends. One of the most common financial mistakes people make is waiting until February or March to meet with their CPA or advisor to talk about taxes. By that time, the deadline to correct mistakes or take advantage of any potential savings opportunities may well have passed. Having a tax meeting in November or December means you are taking a proactive approach to tax planning, which better ensures that you won\u2019t end up giving the IRS any more of your hard-earned money than you absolutely must.<\/p>\n<p>It\u2019s important to have this meeting every November or December because tax laws and guidelines change from year to year, as does your own financial situation. A savings strategy that might not have been right for you last year (or for which you may not have qualified) may be a smart move that results in big savings this year.<\/p>\n","protected":false},"author":1,"featured_media":16529,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_theme","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[4,5],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Year-End Financial Planning Checklist - Johnson Wealth and Income Management<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/johnsonwim.com\/year-end-financial-planning-checklist\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Year-End Financial Planning Checklist - Johnson Wealth and Income Management\" \/>\n<meta property=\"og:description\" content=\"Americans are notorious for overspending when the holiday season rolls around. While that may be good for the economy in the short term, it often ends up being bad for household budgets. Ultimately, though, overindulging a bit in spending during the holidays doesn\u2019t need to create hardships if you know your broader financial situation is in good shape. In fact, the last two months of the year are a perfect time to create and go over a Year-End Financial Planning Checklist, ideally in partnership with your financial advisor.  The end of the year is the best time for this process because certain key financial deadlines fall on December 31. Beat them, and you\u2019ll improve your odds of enjoying your holidays knowing you\u2019re on track to meet your long-term financial goals, even if you decide to overspend a bit on gifts for the kids or grandkids. You can consider this year-end financial checkup a gift you give yourself! The items included on your checklist may vary depending on your age and situation, but if you are actively saving for retirement (especially if you are already retired or within 15 years of retirement), your Year-End Financial Planning Checklist should include the following:  Taxes This is easily the most important and potentially beneficial area to examine before the year ends. One of the most common financial mistakes people make is waiting until February or March to meet with their CPA or advisor to talk about taxes. By that time, the deadline to correct mistakes or take advantage of any potential savings opportunities may well have passed. Having a tax meeting in November or December means you are taking a proactive approach to tax planning, which better ensures that you won\u2019t end up giving the IRS any more of your hard-earned money than you absolutely must.  It\u2019s important to have this meeting every November or December because tax laws and guidelines change from year to year, as does your own financial situation. A savings strategy that might not have been right for you last year (or for which you may not have qualified) may be a smart move that results in big savings this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/johnsonwim.com\/year-end-financial-planning-checklist\" \/>\n<meta property=\"og:site_name\" content=\"Johnson Wealth and Income Management\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-28T21:38:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-29T17:37:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/johnsonwim.com\/wp-content\/uploads\/2023\/02\/Johnson-Wealth-and-Income-Management-Year-End-Financial-Planning-Checklist-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"1295\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Johnson Wealth &amp; Income Management\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Johnson Wealth &amp; 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While that may be good for the economy in the short term, it often ends up being bad for household budgets. Ultimately, though, overindulging a bit in spending during the holidays doesn\u2019t need to create hardships if you know your broader financial situation is in good shape. In fact, the last two months of the year are a perfect time to create and go over a Year-End Financial Planning Checklist, ideally in partnership with your financial advisor.  The end of the year is the best time for this process because certain key financial deadlines fall on December 31. Beat them, and you\u2019ll improve your odds of enjoying your holidays knowing you\u2019re on track to meet your long-term financial goals, even if you decide to overspend a bit on gifts for the kids or grandkids. You can consider this year-end financial checkup a gift you give yourself! The items included on your checklist may vary depending on your age and situation, but if you are actively saving for retirement (especially if you are already retired or within 15 years of retirement), your Year-End Financial Planning Checklist should include the following:  Taxes This is easily the most important and potentially beneficial area to examine before the year ends. One of the most common financial mistakes people make is waiting until February or March to meet with their CPA or advisor to talk about taxes. By that time, the deadline to correct mistakes or take advantage of any potential savings opportunities may well have passed. Having a tax meeting in November or December means you are taking a proactive approach to tax planning, which better ensures that you won\u2019t end up giving the IRS any more of your hard-earned money than you absolutely must.  It\u2019s important to have this meeting every November or December because tax laws and guidelines change from year to year, as does your own financial situation. 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