December Topic of the Month: Are Your Financial Records for The End of The Year?
Organize your financial records:
Gather all your account statements and your personal income records in one place. This will also be important when preparing your taxes for 2024.
Have you contributed to your retirement?
If financially able, make sure you have contributed the allowable amounts to your retirement plan. Check with your employer or accountant to verify your annual contributions.
Make charitable donations:
These donations can help reduce your taxable income. Make sure the organization you are donating to is reputable and save your receipt for the donation.
Ask questions:
If you are not sure of a financial item, please seek advice from a trusted individual. There are a lot of professionals that can give you proper information. Some professionals that may help are accountants, financial advisors, lawyers and bankers to name a few.