| Create a Year-end Financial Checklist. |
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Here are some suggestions for your list:
Item One: Sell your losers. If you sell stocks that have lost value, you can use your losses to reduce up to $3,000 of ordinary income on your taxes.
Item Two: Put more money into your 401(k). Ask your employer to adjust your remaining paychecks to boost your 401(k) contributions.
Item Three: Add to your IRA. You actually have until April 15, 2009, but why wait until the last minute?
Item Four: Make charitable contributions. Your contributions to a charitable organization are generally tax deductible.
If you can check off most of these items from your year-end “to do” list, you’ll position yourself for success in 2009 and beyond.
This is Ruth Cameron, your Edward Jones financial advisor(303-278-2993).
Member SIPC |
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