ETF Trends
ETF Trends

By Michael Kay via Iris.xyz

When thoughts of vacation and beach come floating across your mind, chances are thinking about your financial life is at the bottom of your priority list. And why would it be anywhere else?

Here’s an idea: Before you put the daunting financial concerns and issues on the summer shelf, why not head into summer on a strong note by crossing a few things off of your list of money to-do’s? Then you can relax, put your feet in the sand, and soak in the sun stress-free.

Following are 5 quick and effective actions you can take before summer.

  1. Tax Check In: While your tax return has likely already been filed, you can check in on it now to make smart moves while you still have the time. If you received a refund of more than $1,000, and your situation hasn’t changed materially, consider adjusting your withholding to put more money in your pocket with each pay period. If you wound up paying the government, you might need to adjust your withholding to pay in and avoid potential penalties. Check in with your non-retirement investments to get an idea of any sizable capital gains or losses. If you are in a high tax bracket, be careful of amassing short-term capital gains that are taxed as ordinary income and can shove you right into a higher bracket.

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