Our internal compliance team, Cliff Yount, IACCP®, and Madison Steinbrenner, IACCP®, led this webinar on cybersecurity on Wednesday, October 15, 2025.
Year-End Financial Planning Checklist
As the year draws to a close, we would like to highlight two key activities we’re undertaking on behalf of our clients and provide reminders on other best practices for year-end.
Tax-Loss Harvesting
Our investment team actively monitors portfolios for tax-loss harvesting opportunities. This involves selling securities at a loss to offset capital gains, while simultaneously reinvesting in a way that remains aligned with your long-term goals and risk tolerance. We also manage cost basis considerations to support overall tax efficiency.
Required Minimum Distributions (RMDs)
Clients age 73 or older are legally required to take annual Required Minimum Distributions (RMDs) from tax-deferred retirement accounts, such as traditional IRAs and 401(k)s. Vision Capital will assist in coordinating these distributions through your Fidelity or Schwab account as needed. If you have an inherited IRA, Required Minimum Distributions (RMDs) may still be required, regardless of your age, depending on the terms of the inheritance and current IRS regulations. If you hold an inherited IRA or have any questions regarding your RMD obligations, please contact your client relationship manager for guidance.
Additionally, the following items can help clients get organized and ready to welcome in the new year.
Maximize Retirement Contributions
Even if you can’t contribute the full annual limit, increasing contributions before year-end can significantly enhance long-term retirement savings. If eligible, consider making “catch-up contributions,” which vary in amount depending on the type of retirement account.
Optimize Charitable Giving
To receive a 2025 tax deduction, charitable donations must be completed by December 31. We recommend acting early, as nonprofits can be overwhelmed during the final weeks of the year. Additional strategies to consider include bunching donations into a single year for greater impact, donating highly appreciated long-term assets, or making qualified charitable distributions (QCDs) directly from an IRA.
Evaluate Income Tax Withholding
Now is a good time to reassess your withholding elections to make sure they still match up with your current income level and tax situation heading into the new year.
Assess Medicare Coverage
We recommend reading the Annual Notice of Change (ANOC) document, which details changes to costs and coverage. If you have experienced significant changes with your health, are seeing new providers, or have new prescriptions, it may be worthwhile to move to a new plan during open enrollment, which takes place from October 15 to December 7.
Contribute to Your Health Savings Account
Health Savings Accounts (HSAs) carry the unspent funds over to the next year. If you are able, it is advantageous to maximize your contribution to your HSA for a triple tax advantage: tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical costs.
Use Flexible Spending Accounts (FSAs)
Flexible spending funds are generally subject to a “use it or lose it” rule. Depending on your plan, unused balances may expire at year-end. Eligible purchases include new contacts or glasses, prescriptions, appointment copays, and over-the-counter items such as first aid supplies, sunscreen, and cold and flu remedies.
Review Estate Planning Documents
Outdated beneficiary designations are unfortunately common and can lead to unintended consequences. Take the time to review and update your beneficiary forms to ensure they accurately reflect your current wishes and circumstances.
If you have any questions about the topics outlined above, please don’t hesitate to reach out. We are here to support your financial goals with thoughtful, proactive guidance.
A Financial Checklist for a Single Parent
Parenthood comes with a lot of responsibility and that weight is amplified if you’re among the 23% of single parent homes in the U.S. As a single parent, managing your finances and getting to a point where you feel comfortable are important as you take care of yourself and your family. Though your budget may be smaller than those in two-income households, there are many things you can do now and going forward to set yourself up for success and protect your family’s future.
When is the Right Time to Refinance?
Refinancing has been a hot topic in the headlines since interest rates were historically low (below 3%!) throughout early 2021. Though rates have slowly risen as the year has gone on, they are still low enough to tempt many into considering a refinance. In the right circumstances, refinancing can be beneficial; however, it requires an investment of time, money, and effort, so it’s important to fully consider the pros and cons before moving forward.
Understanding Renter and Homeowner Insurance
Like most insurance types, renter and homeowner insurance policies are often glossed over and/or unfamiliar until you’re dealing with an issue such as your kitchen flooding or someone breaking into your car. These policies are important to your financial well-being because they provide protection for both your home’s structural issues and the possessions inside your home. Depending on the landlord, carrying renter’s insurance may be required as a part of your lease. If you own your home and have a mortgage, your bank will very likely require you to have homeowner’s insurance. A 2016 survey by the Opinion Research Center determined that only 41% of renters carry insurance as compared to 95% of homeowners. Such a divide is surprising considering that accidents can happen at any moment, regardless of whether you own or rent, and they can be very expensive to cover out of pocket.
Let’s explore the common benefits and limitations of these types of insurance. [Read more…]