This is a great time to take a look at your financial plan, and if your life’s circumstances have changed, update it. I used to joke with clients that the only guarantee I could make is that their financial plan would be outdated before the ink dried. Money must-do: Revisit your financial plan.(May is also the start of moving season!) Summer vacation brings challenges and opportunities with respect to childcare and camps for your kids and grandkids. Key dates: April 1 (deadline for the year’s first Required Minimum Deduction), April 15 (tax filing deadline)įor many students, May marks the end of the school year.Don’t forget: Talk with your tax advisor about adjustments you might need to make based on the new tax law.I told her the same … but I think the boxes are still in her basement. The IRS advises that we keep tax files dating back three years. I was shocked by the hundreds of boxes of cancelled checks, receipts and other tax files she’d kept over the years. Year ago, an elderly client shared her financial records with me and asked for some advice on what to keep and what to throw away.
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