The fourth quarter is often make-or-break time in sports. Likewise, tax-cutting steps you take in the last three months of the year can transform a financial plan into a bona fide winner.

Have you heard about the new "Achieve a Better Life Experience" (ABLE) accounts? They're tax ­favored savings accounts you can establish to set aside money to pay expenses for a disabled family member. Assets in ABLE accounts grow tax-free and withdrawals are nontaxable if used to pay qualified disability expenses.

The IRS recently reminded business that they have an obligation to report any cash payments in excess of $10,000 on Form 8300.

Muni-bond appetite on the rise as investors seek tax-free safety: More investors are looking to add municipal bonds in their portfolios as they prefer safer investments in the wake of the Fed's decision not to raise interest rates, according to MarketWatch.

Thomson Reuters is forecasting the tax rates for next year and predicting they will be adjusted upward in line with modest inflation.

A new temporary highway funding bill recently became law. Buried within this temporary bill (the highway money runs out again October 29, 2015) are several tax law changes that have nothing to do with highway funding. Most of the tax law changes are effective after December 31, 2015 or for the 2016 tax year.