What Issues Should I Consider Before the End of the Year?

As 2025 wraps up, it’s a great time to review key areas of your financial picture to ensure you’re minimizing taxes, maximizing savings, and preparing for the year ahead. This year-end checklist highlights the most important items to revisit:

Tax Planning: Review your tax bracket, capital gains/losses, withholding needs, and any potential windfalls. Look for opportunities to harvest losses, manage gains, or adjust income and deductions to stay in a favorable tax range.
Charitable Giving: Consider tax-efficient strategies like gifting appreciated securities, making QCDs if you’re 70½+, or bunching gifts to maximize deductions.
Retirement & Savings: Double-check contribution limits for 401(k)s, IRAs, and HSAs, and consider Roth conversions or accelerating IRA withdrawals if it fits your tax situation.
Business Owners: Evaluate Qualified Business Income (QBI) deduction eligibility and whether to accelerate or defer business expenses before December 31.
RMDs: Ensure any required minimum distributions—especially from inherited IRAs—are taken correctly to avoid penalties.
Cash Flow & Benefits: Use any remaining FSA funds, consider medical expenses if you’ve met your deductible, and revisit 529 contributions for education planning.
Estate & Gifting: Review your estate plan for life changes and complete any annual gifts up to the $19,000 exclusion per person.

This checklist provides a simple way to make sure no important financial opportunities are missed before year-end. Let me know if you’d like a client-facing version, a social media caption, or a visual summary graphic.

CLICK HERE to download this checklist.

DPWM

Denver Private Wealth Management is an independent fee-based financial planning practice with 80+ years of experience in the financial industry. DPWM customizes portfolios based on your financial goals and works closely with you, your tax advisors and estate attorneys to form a comprehensive view of your financial situation. For more information or to set up a free consultation, contact us at info@denverpwm.com.

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