The End of the Year Financial Planning Checklist is here to help complete 2021 successfully before the new year.
Financial Tip Friday is brought to you in partnership with the 1st National Bank of Dennison.Â
End of Year Financial Planning Checklist
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Contribute to your retirement IRA or Roth IRA up to $6,000 each calendar year if you’re 49 or under. Contributions of $7,000 per year can be made for those 50 and above.
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Make a Charitable Contribution and receive a receipt (extension of the CARES Act allows for an “Above the Line” deduction of $300 cash donation or $600 if married and filing jointly) made directly to a 501(c)3 charity
Charities & Non Profits – Stark County, OH (Donations & Volunteering)
Ashland, OH Nonprofits and Charities | Donate, Volunteer, Review | GreatNonprofits
Tuscarawas County Ohio Nonprofits and 501C OrganizationsÂ
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Manage any gains and losses in the stock market investment accounts
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Add funds to 529 college savings plans
2021 Tuition Comparison Between Colleges in Ohio
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Review a 2022 plan (does it entail marriage, children, big purchase or large event?)Â Is your beneficiary information updated on all accounts?
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Minimize total interest payments if in debt and review if products currently in use are actually helping to serve to pay down debt
For help with savings, spending, and investing, speak to a local banker
to help set up a solid foundation!
Mrs TAZ
Reporting
End of the Year Financial Checklist