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Year-end Planning
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Sort out your 2015 finances before the ball drops

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To-do list before the calendar turns over

Before everyone's attention drifts toward holiday parties and ski vacations, financial advisors have a number of action items they say clients must attend to first. "We have our checklist," said Diane Pearson, the personal chief financial officer with Legend Financial Advisors.

Year-end tends to be a flurry of last-minute financial moves, but it doesn't have to be. Some items on the checklist, such as matching losses against gains, may need to wait until later in the year, when the picture is clearer. But others, such as taking required minimum distribution from retirement accounts, can be done any time of the year

"A lot of what we consider year-end planning are things that people should think about all year long," said Tim Steffen, a CPA who is also director of financial planning at Robert W. Baird & Co. "But human nature being what it is, we need a deadline to get things done," he said.

Just in case you've been procrastinating, here's a year-end checklist to get through before you turn the lights out on 2015.


By Ilana Polyak, special to CNBC.com
Posted 07 October 2015

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