after Christmas presents are purchased and wrapped
That I work on the books.
This year I am making a list of what I do in the next six weeks
for tax season
and next year.
Although I will have to wait to do taxes until March
because I will be waiting for documents
Everything will be ready for them to be sent.
Here is my list:
Close the books on my envelopes
Did I allocate correctly? What is left over.? What is the budget for next year?
Consider starting a new envelope for moving?
dogs and propane
auto repair and purchase
gifts and taxes (they are the same thing, right?)
education
travel
take out/ special groceries
House repairs
Personal Allowance (only to figure out the budget)
Pay off, every single thing that has posted,
between Dec 31- Jan 1.
All of my spending that I did in 2019
needs to be paid for in 2019.
I do not carry any negative balances into the new year.
No carry of credit card debt on 2020 money.
Print off the final statements,
from every account, when they post in January
I am a hawk.
This one thing has saved me so many hours when preparing our taxes.
This will be first year for:
Calculate my husband's RMD for the year
and prepare where it will be applied.
He will turn 70 1/2 in December 2020.
Almost all of his Traditional IRA accounts have been rolled in the last ten years.
What ever is left is divided by 27.4
(how long the IRS plans before he dies)
and place that into an account.
What account will be a discussion.
Calculate how much of my Traditional IRA should be rolled into a Roth, and do it.
I still have a larger T IRA
Right now the taxes are very much in favor
of me rolling as much as possible next year.
Until this year the emphasis has been on his IRAs
There are three years before my Social Security comes into play.
Roll, baby, roll.
Check rates on CDs
Several CDs will mature soon.
Where will they go?
I just rolled some IRA money into a 3% CD
Oh, how I long for the days of 7%.
Do you have anything on your list that I am missing?
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