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This year, tax season officially ends on April 17th. The deadline is creeping closer and closer, and below are some last minute tips, from the financial professionals at DLG Wealth Management, to help improve your investments.

1.    People should be taking a look at their IRAs and 401k plans. If you have IRAs in more than one place, consider consolidating them. IRAs in multiple places may be subject to be double charge. By consolidating them in one place, you will save yourself some money and it will be a lot easier for asset allocation because everything is in one place.

2.    Many people forget about the Non-Working Spousal IRA deduction or IRA. Make sure you are aware of this type of deduction, and if qualified, you can save money and put almost $5,000 or $6,000 into an IRA of the spouse who isn’t working as long as the person, who is working, has income to cover it.

3.    Play Catch-up: If you’re 50 years old or older, make sure to take advantage of catching up. Instead of putting $5,000 into an IRA, you can put $6,000 into an IRA.

4.    Always make sure you’re taking the maximum out that you can afford to put into an IRA. The more you can afford to put in, is more earned money that is tax-deferred.

5.    Start thinking about a ROTH IRA. Taxes are increasing and any money put into a Roth IRA is tax-free when the money is withdrawn. It may be a good idea to move more money into these Roth IRAs now.

6.    Remember to rebalance your portfolios. They are probably over weighted in bonds. In 2008, bonds outperformed every other asset class by a great deal. The next year they fell to last place. In 2011, bonds outperformed all other 13 asset classes. It is known that an asset class that was #1 in one year, usually does not repeat the following year. 2012 is up in the air but it is important to note that the chances are high that 2012 will not be a good year to be in bonds.

For more information on managing your finances, or other financial advice, call DLG Wealth Management today at (518) 348-0060 to speak with a financial advisor in Albany, NY or Utica, NY. You can also see Managing Director, Andy Guzzetti, every Monday morning on WXXA Fox – Albany's Money Monday segments.

Are you deciding whether to open a Roth IRA or Traditional IRA? Both forms of IRA are great ways to save for retirement. Find out more about IRA's, the benefits and financial planning from financial advisor, Andy Guzzetti, from DLG Wealth Management:



Every Monday morning at 7:45 a.m., don't miss the "Money Monday" segments on WXXA Fox 23 News Albany. Managing Director of DLG Wealth Management, Andy Guzzetti, gives tips on how to manage your money and protect your finances. Miss a segment? Get all the information you'll need about wealth management on DLG Wealth Management's News page.