2025 Financial Planning checklist

As year-end approaches, it’s a great time to begin preparing and reviewing your 2024 tax and 2025 financial planning records. Towards those goals, we are pleased to offer our comprehensive financial planning checklist – accessible online or via download with the link below:

If you have any questions or would like to schedule a meeting, please feel free to reach out to us. Happy holiday season to all!!


  • Investment planning
  • Portfolio risk review & re-balancing
  • Tax loss harvesting
  • Liquidity needs planning
  • Tax Planning
  • Income bracket shifting
  • Reduction of taxable income for closely held business owners
  • Sufficiency of tax withholding
  • AMT liability reduction
  • State and local estate tax planning
  • Itemized deduction bunching
  • FSA accounts – year end or early 2025 spending deadlines
  • Retirement planning
  • Maximizing 401(K) contributions:
    • Annually through age 49: $23,500
    • Age 50 and up: $31,000
    • Age 60-63: $34,750
  • Maximizing IRA contributions:
    • Annually through age 49: $ 7,000
    • Age 50 and up: $ 8,900
  • Contribution to HSA accounts
  • Funding Roth and other IRA accounts for children
  • Is a taxable Roth conversion right for you?
  • Review benefit elections for Social Security and Medicare programs
  • Strategic Planning
  • Annual gifting exclusion - $19,000
  • Funding 529 plans
  • Funding charitable obligations with appreciated assets or cash?
  • Electing a qualified charitable distribution from your IRA (QCDs)
  • Consider advanced gifting, entity discounting and planning strategies

ANNUAL REMINDERS

This is a great time to review certain planning considerations:
2025 Budgeting:Review your actual 2024 spending, planned big-ticket purchases for 2025, and debt/loan refinance options during low interest rate environment.
Credit report:The Fair Credit Reporting Act requires each of the nationwide credit reporting companies to provide you a free copy of your credit report once every 12 months.
Health care and insurance:Review your insurance portfolio to make sure it meets your coverage needs; prior to annual benefits enrollment.
Estate planning:Review Wills, Trusts, Power of Attorney, and other documents designed to transfer or protect your assets. Review elections and appointments made within these documents