Account Audit
By Naperville Magazine
Appears in the October 2021 issue.
![](https://napervillemagazine.com/wp-content/uploads/2021/09/Screen-Shot-2021-09-27-at-1.50.26-PM_800px-223x300.jpg)
Anthony Pellegrino, founder of Goldstone Financial Group in Oakbrook Terrace, says that fall is a great time to do a household financial checkup. Here are five actions to consider:
Determine your tax bracket If you are just over a threshold with combined income, consider a Roth IRA conversion.
Pay down credit cards Funds sitting in bank accounts can be used to pay down debt and eliminate interest charges.
Fund tax-deferred accounts Contribute to a 529 education plan before December 31 or a Roth IRA by April 15.
Update your trust accounts You may want to rewrite wills or change beneficiaries.
Consider gifting You can give $15,000 in cash or assets—per spouse—to children or grandchildren with no tax liability.
Illustration by Kevin Sterjo