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New Year's Tax Resolutions

What are you grateful for as you review your year? The end of 2022 is approaching. Many of us will be happy to wish this year goodbye. Still, I encourage you to be present to all that you are grateful for in your life, today and everyday. A new year, like each new day, is an opportunity to make a fresh start. Perhaps you would like to boost your self esteem, feel more rested, or learn to eat healthier.

Year end is a good time to review your finances

Year end is a also a good time to review your finances. Make sure you are maximizing your after-tax dollars by taking full advantage of savings plans, including 401Ks, HSAs and FSAs, and 529 plans for college savings. This year's uncertainty withstanding, there are several tax advantages we can take advantage of now, before they go away or are decreased.

Consider bunching deductions

If you live in an area with high property taxes, consider paying your property taxes early. Make a large charitable donation to a donor-advised fund in 2022, taking advantgage of the deduction this year while making grants to charities in the coming years. Please reach out to discuss, or if you have any questions