Finishing 2025 Strong:Treats for Your Future Self
December always tricks you into thinking you have more time than you do.
Here's what still needs to happen before the 31st.
December always does this thing where it feels like you have plenty of time, and then suddenly it's the 28th and you're scrambling.
I don't want that to be you this year.
Here's the truth: most of the big strategic moves we talked about in November? If you haven't handled them yet, you still have time. But that window is closing fast, and some deadlines are hard stops that can't be extended.
So let's cut through the noise and focus on what actually matters in these final weeks.
What You Can Still Do (But Need to Do NOW)
Maximize Retirement Contributions
If you haven't maxed out your SEP IRA, Solo 401(k), or other qualified retirement plan, you have until December 31 to make 2025 contributions. This isn't just about the tax deduction—it's about setting your future self up with compounding growth. Don't leave money on the table.
Take Your Required Minimum Distribution (RMD)
If you're 73 or older and haven't taken your RMD yet, this is non-negotiable. The penalty is 50% of what you should have withdrawn, plus you still owe income tax on it. If you're cutting it close, make sure this gets handled before December 31.
Execute Tax-Loss Harvesting
If you have investment losses this year, you can use them to offset gains and reduce your tax bill. This strategy works, but only if you execute it before year-end. Your advisor should be reviewing your portfolio for these opportunities right now.
Finalize Charitable Giving
If you're planning to make charitable contributions, December is the deadline for them to count toward your 2025 taxes. Whether it's a direct donation, a donor-advised fund contribution, or a qualified charitable distribution from your IRA, make sure it's processed before the 31st.
Use Flexible Spending Account (FSA) Balances
Most FSAs operate on a "use it or lose it" basis. If you have money left in your healthcare or dependent care FSA, you need to spend it or forfeit it. Check your balance and make sure you're not leaving your own money behind.
Confirm Estimated Tax Payments
If you owe a fourth-quarter estimated payment, it's due January 15, 2026—but getting it done in December can give you peace of mind heading into the new year. Make sure you're not setting yourself up for penalties or an unwelcome surprise in April.
What You Might Have Already Missed (But Can Plan for Next Year)
Roth Conversions. If you wanted to convert traditional IRA funds to a Roth this year, you needed to do it before December 31. If you missed it, let's plan for 2026.
Health Savings Account (HSA) Contributions. Depending on your plan, you may have until the tax filing deadline in April to contribute for 2025, but confirm with your plan administrator. If you missed the window, we'll prioritize it next year.
Section 179 and Bonus Depreciation. If you're a business owner and wanted to deduct equipment purchases, the asset had to be purchased and placed in service by December 31. If you missed it, we'll strategize for 2026.
The Conversations You Should Be Having This Month
December is unique because it's one of the few times most people are actually around their families for extended periods. That makes it an ideal, if sometimes uncomfortable, time to have important financial conversations.
Estate Planning: If you've been putting off updating your will, discussing your estate plan with your kids, or naming guardians, the holidays can be a natural time to bring it up. You don't need to make it heavy—just open the door.
Beneficiary Updates: If there have been any major life changes this year—marriage, divorce, birth, death—make sure your beneficiary designations reflect your current reality. This is one of those things people forget until it's too late.
Financial Transparency with Adult Children: If you're a business owner or high-net-worth individual, your adult kids may have no idea what your financial picture looks like. December can be a good time to start those conversations so they're not blindsided later.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Traditional IRA account owners have considerations to make before performing a Roth IRA conversion. These primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.