Merry Christmas and Moose
Merry Christmas and happy holidays from Flying Point Advisors! In this final edition of The Flying Point Update for 2025, we're going to talk about holiday gratitude, donor-advised funds, and Maine's most iconic animal.
Top of Mind
Every December, our mailbox fills with holiday cards from friends and family. These cards arrive with beautiful family photos where everyone is smiling, coordinated outfits are on full display, and children appear to be sitting still voluntarily. I love getting these cards and enjoy every update they bring.
What truly amazes me isn't the heartfelt messages or the creative designs, but the sheer logistical accomplishment behind each one. How do families actually pull this off? At what point in the season did they manage to wrangle everyone into matching sweaters, find natural lighting, and capture a photo where nobody is blinking, crying, or making a face? With our crew of feral children and animals, a coordinated holiday card remains aspirational…
So, in lieu of a card from your accountant, I'd like to take a moment to simply say “thank you”. It's been just over six months since I launched this newsletter, and the response from clients and readers has been wonderful. More importantly, I'm grateful to work with clients I genuinely enjoy. Your trust in Flying Point Advisors is what makes this work meaningful, and gives me the flexibility to be present for backyard camping adventures, turtle rescues, and all the other chaos that comes with young children.
I'm fortunate to do work that matters for people I care about. From my family to yours, thank you for a great year, and I wish you all a wonderful holiday season.
Worth Knowing
In A Christmas Carol, Scrooge famously dismisses the gentlemen seeking charitable donations with "Are there no prisons? Are there no workhouses?" By the story's end, of course, he's transformed into a model of generosity. If Scrooge had a good accountant, he might have been advised to consider a donor-advised fund.
A donor-advised fund is essentially a charitable investment account. You make a contribution to the fund, receive an immediate tax deduction, and then recommend grants to your favorite charities over time. The contribution is irrevocable (you can't take it back), but you maintain advisory privileges over how the funds are distributed.
The primary benefit is flexibility. You can bunch multiple years of charitable giving into a single year to exceed the standard deduction threshold, take the tax deduction now, and then distribute the funds to charities at your own pace. This is particularly useful in high-income years when the tax benefit of a deduction is worth more. The funds also grow tax-free while they're in the account awaiting distribution.
Many major brokerages like Fidelity, Schwab, and Vanguard offer donor-advised funds with relatively low minimums and fees. Some community foundations also offer DAF programs with local expertise and support.
Realistically, the timeline to open and fund a donor-advised fund before December 31st is tight at this point, but doable. However, charitable giving is a lifelong endeavor, not just a year-end tax optimization exercise. If a DAF sounds like it might fit your situation, it's worth exploring for 2026 and beyond.
On a personal note, I serve as treasurer for Teens to Trails, a Maine nonprofit that helps middle and high schools start and sustain outdoor clubs. Their mission connects Maine teenagers to life-changing outdoor experiences through hiking, camping, kayaking, and more. Given how much the outdoors means to our family (as regular readers of the wildlife section know well), this organization is close to my heart. If you're still considering year-end charitable giving, I'd encourage you to learn more at www.teenstotrails.org.
Mark Your Calendar
January 15th, 2026: Q4 2025 estimated tax payments due
January 31st, 2026: Deadline for businesses to issue W-2s and 1099s to employees and contractors
April 15th, 2026: Tax filing deadline for 2025 returns
Have a relaxing holiday. We'll dive back into tax season together in the new year.
Maine Wildlife Facts
It's the holidays, and Will and Frank insisted we write about Maine's most iconic animal: the moose. Maine is home to the largest moose population in the lower 48 states, with an estimated 40,000 to 60,000 animals roaming our northern and western forests.
Moose are the largest members of the deer family, with bulls weighing up to 1,500 pounds and standing nearly seven feet tall at the shoulder. Their massive palmate antlers (shaped like open hands) can span six feet across and weigh up to 70 pounds. To maintain their enormous size, moose eat 40 to 60 pounds of vegetation per day, stripping bark in the winter and diving for aquatic plants in summer. The Algonquin word "moosu," meaning "bark stripper," is actually where we get the name moose.
Here's a fun Christmas connection: moose and reindeer are actually relatives. Both belong to the Cervidae family, making them cousins in the deer world. However, while reindeer have been domesticated for thousands of years to pull sleds (and, according to legend, Santa's sleigh), moose remain wild and solitary. You won't see any moose applying for a position at the North Pole anytime soon. They prefer to spend their winters browsing quietly through Maine's forests, which suits them just fine.
These Maine wildlife facts have been brought to you by Will (7), Frank (3), and Catherine (almost 2), Flying Point Advisors' on-staff naturalists.
Questions about any of this? Just reach out - I read every email and love hearing from you. Thanks for reading. Happy Holidays, and you'll hear from me again in the new year.
-Mike
Disclaimer
The Flying Point Update is provided for general educational and informational purposes only. The content in this newsletter reflects my thoughts and observations on tax, accounting, and financial planning topics, but should not be considered personalized tax, accounting, or investment advice for your specific situation.
Tax laws are complex and change frequently. The information presented here is based on current tax law as of the publication date and represents general concepts that may not apply to your circumstances. Every individual and business has unique factors that affect their optimal tax and financial planning strategies.
Before making any financial decisions or implementing any tax strategies discussed in this newsletter, please consult with a qualified tax professional, CPA, or financial advisor who can evaluate your specific situation. If you'd like to discuss how any of these topics might apply to your circumstances, I'm always happy to chat.