Getting Ready for the New Year – Goodbye 2020

We are almost done with 2020 and I think it is safe to say that most of us are looking forward to a new year. While December often has us busy with holiday parties,  it is also the time to make plans for your financial future. Tidying up financial matters that need to be completed this year lays the groundwork for setting yourself up for financial success in the new year.

One good thing 2020 did bring us was the awesome interest rates! Some people took this opportunity to upgrade their homes, dip their toes into investment real estate, or to restructure loans to move money around for new adventures. If you are thinking about getting a loan soon, you might want to check in with your banker or shop around as the rates are still good.

Now is also a great time to meet with your accountant for any last-minute tax planning to ensure you are on the right track for the 2020 tax year. Your accountant can talk to you about how to round out your year – for example, is there any last-minute spending that would be a benefit to you this year. An accountant can also provide insight into the ever-changing tax laws and incentives out there for businesses and individuals which might be important information to know as you close out your tax year.

Finally, now is the time to be planning and setting any goals for the new year. Do not wait until December 31st to set up quick and easy financial goals that will be forgotten by January 15th. DO research and MAKE a plan so those goals can become a reality. The extra effort of the research and planning will help you be more successful in reaching those goals.

Granted December can be a busy month with the holidays; remember, however, that year-end financial planning and new year financial planning are also very important to make time for. If you have real estate goals as part of your year-end or new year financial plans, let us help.

Be safe and we wish you much success in the New Year!

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