As this year ends, take a closer look at your current tax strategies to make sure they are still meeting your needs. It may not be too late to take last-minute steps that could save you money come tax time. Now is also a good time to start planning for next year. With all that in mind, please … [Read more...] about Year End Tax Planning 2019
Giving To Charity After Tax Reform
The Tax Reform Act passed in December 2017 radically changed the rules for itemized deductions. This has affected charitable giving in a significant way. First, the act restricted state and local tax deductions to $10,000 total. Second, it increased the standard deduction for a single person to … [Read more...] about Giving To Charity After Tax Reform
Does Your College Student Have a Financial and Healthcare Power of Attorney?
Do you have a child or grandchild going off to college this fall? If so, you should make sure they have a healthcare power and financial power of attorney signed before leaving for school. If he or she is not already, during their freshman year, your college student will likely turn … [Read more...] about Does Your College Student Have a Financial and Healthcare Power of Attorney?
Planning for Your Minimum Required IRA Distributions
If you turned 70 ½ last year and did not take a required minimum distribution, make sure you take one by April 1, 2019, and your second distribution (for 2019) by December 31, 2019. If you don’t take the required minimum distribution you could be subject to a 50% penalty on the amount you should … [Read more...] about Planning for Your Minimum Required IRA Distributions
IMPORTANT YEAR END PLANNED GIFTS
With nonprofits now in the midst of their year-end fundraising campaigns, make sure you don’t forget about two important planned gifts that can make a big tax difference for donors. Gifts of appreciated securities – a donor can give you appreciated securities they have owned for one year or … [Read more...] about IMPORTANT YEAR END PLANNED GIFTS
