As 2020 draws to a close, it seems safe to say that most of us are looking forward to the dawn of a new year. One filled with hope and the promise of an effective vaccine that will allow the world to return to what was the “old normal”, or as close to that as is possible. With that being said, as we flip the calendar page into December, it is worthwhile to review where you stand from a tax and financial planning standpoint and consider strategies that may be beneficial for your particular situation. In this update we will first review recent tax & retirement plan changes and then outline some key planning strategies for consideration. We will also highlight some items that are worthy of reviewing every year from a planning standpoint. As always, consult with your tax & legal advisors and the team here at TFC to determine whether a particular strategy will help you and your family accomplish your long-term goals.