Solano Real Estate Scene: Jim Porter
Article By: Jim Porter – December 5, 2025
Here are 10 things to do or at least think about before New Year’s Eve:
1. Maximize your 401(k) and IRA distributions.
2. Take your required minimum distributions (RMDs) if you are age 73 or older to avoid a penalty.
3. Spend Flexible Spending Account (FSA) funds. Most FSAs operate on a “use it or lose it” basis.
4. Complete Roth IRA conversions. This whole Roth IRA thing is something I wish I had taken more seriously and maximized since Roth IRAs became an option in 1997. I am recommending everyone eligible for a Roth to just do it because the whole concept is a no brainer and a huge benefit for a young person’s retirement. Some employers are now offering Roth 401(k)s.
5. Maximize your 529 education plans.
6. Update beneficiaries and estate plans: Review your beneficiary designations on retirement accounts and life insurance policies to make sure your new wife is named and your ex-wife is removed.
7. Update your revocable living trust and make sure all your real estate is in the trust to avoid probate and legal fees for your heirs just in case 2026 is your last year on earth.
8. Utilize 100% bonus depreciation. The “One Big Beautiful Bill Act” permanently extends 100% immediate expensing for eligible assets.
9. It’s too late for solar, but apparently the 30% tax credit for energy-efficient windows, heat pumps and insulation might be something you can pull off in the next couple of weeks.
10. Run your free annual credit report and make sure you have a 740 or higher FICO score for 2026, and if you don’t, make this a goal for the New Year.
Happy Holidays!
Jim Porter, NMLS No. 276412, is the branch manager of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.
