Things that need to be done by December 31, 2010

1. Sell off loser stocks this year to reduce capital gains exposure.
2. Pay your personal property taxes before year end (car tag).
3. Make charitable contributions (cash & noncash) before the end of the year.
4. Pay as much towards any outstanding medical bills in 2010.
5. If you are a high-income earner, consider converting your traditional IRA to a ROTH IRA.
6. Pay January’s mortgage payment in December so you can deduct the interest in 2010.
7. Contribute to your retirement plan.
8. If you are self-employed, stock up on office supplies and make other necessary purchases before year end.
9. If you have a FSA (Flexible Spending Account), make sure to use up all the funds before 2011.  Also, stock up on OTC (Over The Counter) meds, because one of the 2011 FSA changes is that you will no longer be able to use it for OTC meds unless you have explicit instructions for use by a doctor.