Check your asset allocation; rebalance if necessary.
Review beneficiary designations.
Make sure you are saving 15 percent of income.
If you are saving enough, contribute to a Roth IRA, you can contribute until April 15, but the sooner the better.
Use a donor-advised fund for charitable contributions to avoid capital gains tax.
Consider a 529 plan for your child’s college education.
Gift up to $14,000 without gift tax consequences.
Be aware of capital gains distributions.
Maximize your 401(k) contributions. Margaret J. Smith, director of tax and financial planning at Canal Capital Management in Richmond, Virginia, advises topping out on your retirement plan by year-end. “Employees can defer up to $18,000 each year, $24,000 if over 50, resulting in significant tax savings this year,” Smith says. “Also, if you expect 2015 to be a large income year, and 2016 may not be the same, consider accelerating deductions such as charitable contributions, your January mortgage payment/interest expense and medical expenses into 2015 to receive a larger tax benefit this year.”
Time is on your side right now, with eight weeks or so left until Dec. 31 — use the time wisely and get your financial life in order for 2016.