Financial Freedom Press

December is a time when people are thinking about the holidays, getting excited about seeing family and friends and anticipating time off from work and other day-to-day responsibilities. It’s also time for small business owners who feel the pressure of the end of the year and worry about how to reduce taxable income and plan for the subsequent year. And we are all feeling the collective grief of the loss of lives due to war and genocide throughout the nation.

Our hope is that you take at least a few days to set down the expectations that arise during this season and use the time for connection. Once you have thought about your budget for next year or how you can reduce your taxable income or meet with your accountant, or look at your holiday budget to make sure you’re not overspending, take an hour or even 10 minutes to get quiet and ask yourself what is it that I need to connect to in order to  bring more peace and joy into my life? That is our wish for you.

But before you seek the connections, I wanted to make you aware of a few things.

1. WINTER BREAK: Our offices will be closed for a long winter’s nap from December 18th 2023 through January 15th 2024. The IRS e-file system is shut down during this period to prepare for the 2024 tax season and we always do the same. The good news is that our calendar is still open so if you want to schedule a sleep better at night session for your own personal finances or business finances, you are welcome to schedule your new year appointments now.
2. IRS announces relief for taxpayers affected by attacks in Israel Qualifying taxpayers now have until Oct. 7, 2024, to for certain tax filing and payment deadlines that occurred or will occur during the period from Oct. 7, 2023, through Oct. 7, 2024. Visit the IRS websitefor more details about qualifications.
3. If you have young people heading home for the holidays or already home and taking a break from work or school work, it’s a great time to have them seek financial education. One way to get them interested in learning about budgeting and money management is to give them a reality check. This website from Jumpstart.org gives them a realistic view of how much money it takes for them to support themselves. Often putting our goals in black and white and attaching value will motivate us to put the plans in motion to reach those goals. If they visit our Instagram page, like and DM “youth toolkit”, we’ll send them our curated toolkit of resources for youth that want to learn how to manage their money and invest.
4. And lastly, if you live in Delaware County, you may want to check to see if you’re eligible for free home repairs. In this economy, home repairs have become unaffordable for many of us, especially if you’re in need of modifications of your home for health reasons. Philadelphia residents can visit the Rebuilding Philly website to check eligibility.

Wishing you a season of miracles….and hopefully snow! ~ MT Austin