You still need to be thinking about taxes during the summertime

June 24, 2014 by Eric Linden
Woman in white hat in a swimming pool

I bet you all do not want to even see the word TAX right now!  I know what you are doing. Lying in your hammock or lounging by the pool drinking a lemonade. It is summertime. Why would I care about taxes in June? I just filed those darn things and I do not want to see anything tax related. I want to mow the lawn and party. Well, folks, tax planning is a year round affair in the United States of America and here are a few items you may want to address after you put down your cocktail:

  1. Review your health insurance to insure you will not have to pay a penalty for you or any of your family members.
  2. RMD (Required Minimum Distribution)!  Do you have a requirement and have you done it yet?
  3. Have you reviewed your retirement portfolio, at least each quarter?
  4. Have you reviewed your non-retirement portfolio, at least each quarter to take advantage of the Capital Gains laws and rates?
  5. Are all will, trust, and estate forms in order to avoid any unneeded expenses due to probate, should something unfortunate and unseen happen?

Guys and gals, there is an infinite amount of tax related matters that deserve your year round attention, but we will save that for future posts. After all, your favorite beach is calling you home.


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