Planning Pointers
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from FREEDMAN FINANCIAL | December 11, 2015
Year End Tax Planning
You may have until April 18, 2016 to file your tax return, but you need to act before year-end to take advantage of some tax savings.

None of us like to pay taxes, but it is a fact of life.  By planning ahead, you can make your tax burdens a little less bothersome. Before the end of 2015, you might consider pre-paying some of your bills, your mortgage interest, college tuition, and property taxes. In addition, consider making additional contributions to your retirement accounts. You may even be eligible for an IRA.  If you've been charitable in 2015, make sure to gather up your receipts as you'll need them at tax time.  
More Ways to Save on Your Taxes
What Will Happen to My Debt When I'm Gone?
Your debts could eat up any potential inheritance you intend to leave your heirs.

When you die your debts don't simply die with you, they become the property & responsibility of your estate. The executor of your estate is responsible for paying off all your final bills.  Any outstanding debts must be paid with cash or from the sale of property from your estate. Though all debts are not created equal, each kind of debt has its own set of rules.
 
Secured debts, such as mortgages, home equity loans and car loans protect the creditors up to the value of the property. Upon your death whomever inherits your property will be responsible to assuming the payments. If your heirs are unable to continue the payments, the bank has the right to foreclose on the property or repossess the car. Unsecured debts like credit cards and student loans must be paid from the estate, however if your estate is unable to pay them, the banks are forced to take it as loss. There are however times when heirs would be responsible and have to assume such debts; such as, if they've co-signed a loan, were a joint account holder or if they live in a community property state.
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Holiday Tipping Guide
Who and how much should you be tipping service providers this holiday?

It has become customary to show your appreciation for a year of service by giving holiday tips to those that help you out. While there are no hard and fast rules, there are general guidelines. Remember, saying thank you is always a good idea and the right thing to do. While cash is always king, if that is simply not in your budget, consider a hand written note or a small gift. Remember it's the thought that counts after all.
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The opinions expressed in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.  To determine which investments may be appropriate for you, consult your financial advisor prior to investing.

Investment advice offered through Freedman Financial, a registered investment advisor 
and separate entity from LPL Financial. 
Securities offered through LPL Financial, Member FINRA/SIPC.