Year End Planning Advice

Unzip to 2016 New Year

The end of the year is upon us, and it’s important to finish some last-minute financial plans going into 2016. As the year winds down, you only have a small window of opportunity to act before 2016 is underway.

There are few things you need to do before Friday, and these include:

Make Contributions and Distributions

Tax deductible items, such as charitable giving and gifting, have deadlines at the end of the year. You want to maximize these as much as possible, and you could also maximize college savings 529 plans.

IRA accounts can have their contributions maximized, but this can wait until April 15, and that is the deadline for maxing out your IRA.

Anyone that is over the age of 70 ½ will need to take out the required minimum distributions from their IRA. If you do not to get these distributions before the new year, you will be penalized by the IRS.

Analyze Your Gains and Losses

Tax losses need to be harvested and off of your books before the end of the year. You are able to write off a loss of up to $3,000 per year, but this needs to be done before December 31. Utilizing a financial advisor is best at this time, and if you cannot afford a financial advisor, there are other web-based services that will allow you to maximize your gains and losses for the year.

You don’t want to get back to your financial advisor too late, and at the time of reading this article, it is likely too late to get a lot done to maximize your gains and losses.

Your best bet is to contact your financial advisor and discuss your options at this time. You want to offset capital gains with tax loss selling as much as possible.

Update Your Financial Plan

You want to make sure that you are on the right track financially. You want to review your:

  • Estate planning
  • Insurance premiums
  • Stock portfolio

If you’re planning on refinancing a house, sit down and look over your options at this time. It’s best to start the new year on the right financial track to propel your gains in 2016.

You also want to begin structuring your giving for the year. You’re allowed to give up to $14,000 to individuals without these gifts counting towards the lifetime exemption of $5 million. Many people choose to offer gift cards to clients as a way to provide gifts and lower tax burdens.

Donations are a great way to lower your tax burden, and you have the option of donating appreciated stock if you do have capital gains as a way to lower your tax burden. At the end of the year, it’s always a good idea to overlook your financial planning and start the new year on the right track.

Set Your Business Up For Success
Want to make this your most successful year yet? Make sure to cover all your bases. Focus on what you do best and find experts for all of the rest. Fiverr is a great place to find professional help in every field imaginable. Have countless to-dos? Fiverr’s freelancers can be counted on to do them all. On time and on budget.

Wondering where to start? Here are your 3 steps to business success:
1. Build a Better Brand
Want a brand that earns your customers’ trust and loyalty? Don’t confuse them with a bland brand.
Create a standout brand across every aspect of your marketing: Brand your logo, your website, your app, your social media.
You get the picture. (but make sure that picture looks good)
  • Get a world-class logo design

  • Design your social media to reflect your brand

  • Tailor your web and mobile design to fit your brand

Social Media Design
Logo Design
Web Design
2. Grow Your Customer Base
They’re not going to walk in your door if they don’t know who you are. Catch them while they’re browsing the Internet at home. Pop up on mobile while they’re walking around town. Whatever it takes to reel them in.
Pump up your presence online with these easy fixes:
  • Boost your social media marketing (SMM): Target your ideal customers and appear in their social media feeds.

  • Level up your search engine marketing (SEM): Pop to the top of the search results with your targeted ads.

  • Step up your SEO: Rank first on Google search results and get the attention your brand deserves.

Social Marketing
ASearch Engine Marketing
3. Stay Ahead of Your Digital Game
To keep pace with the latest digital trends, you have to keep up with the times. This means you need to give your users what they demand.
Constant content updates: Who wants yesterday’s news?
Short, engaging videos: Your customers crave them.
Seamless user experience (UX): Because no one wants to waste time looking around your site for info when they can find it elsewhere faster. A clean, user-friendly user interface (UI) can clean out the clutter and make your users even more engaged.
Stay ahead of the pack with:
  • Website Content

  • Short Video Ads

  • WordPress Site Building

Video Ads
Website Content
Everything your business needs is just 3 steps away!
Learn more about how to build and grow your business with
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