Mid-Year Financial Check-In

Now is the perfect time to reassess your financial health with a mid-year financial check-in. Taking a moment to evaluate your goals, spending, and tax strategy can help you make informed decisions and stay on track through the end of the year. Whether you’re planning for growth or simply aiming to stay organized, a few small steps now can lead to big benefits later.

At Anderson, Adkins & Crawford, we encourage clients to pause mid-year and evaluate where things stand—so you can finish strong and start the new year with confidence.

1. Review Your Income and Expenses

Your budget is your financial foundation. Now is the time to compare your actual income and spending against what you planned in January. Are there categories where you’re consistently overspending? Have your income sources changed? A mid-year review allows you to adjust accordingly and stay in control.

2. Adjust Tax Withholdings or Estimated Payments

If you’ve experienced a change in income—due to a new job, business growth, investment gains, or a side hustle—you may need to adjust your tax withholdings or estimated tax payments. A proactive adjustment now can prevent a surprise tax bill (or penalties) next April.

3. Plan for Major Purchases or Investments

Thinking about buying a home, expanding your business, or making a large purchase this year? Planning ahead can help you make informed decisions, optimize your tax strategy, and ensure you have enough cash flow without derailing your financial goals.

4. Use Tax Planning to Boost Your Savings and Retirement Strategy

Mid-year is a smart time to review your savings goals with tax planning in mind. Contributions to certain retirement accounts—like a 401(k) or traditional IRA—can reduce your taxable income now, lowering your tax bill while helping you save for the future. Adjusting your contributions before year-end can maximize these tax benefits. Additionally, being mindful of tax-advantaged savings options and timing withdrawals or conversions strategically can help you keep more of what you’ve earned. Consulting with your CPA can ensure your savings plan aligns with your tax strategy for optimal results.

5. Meet With Your CPA for a Mid-Year Financial Check-In

A mid-year check-in and strategic planning with your CPA can uncover opportunities to improve your financial standing. From maximizing deductions and credits to making smart year-end moves, your CPA can help you avoid costly mistakes and take advantage of tax-saving strategies while there’s still time.

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Don’t wait until year-end to take control of your finances.

Contact Anderson, Adkins & Crawford today to schedule your mid-year financial check-in. We’re here to help you stay on track and reach your goals—one smart move at a time.

706-288-2000 | | www.AugustaCPAs.com