General

Lock In the Valuable Charitable Donation Even If You Won’t Itemize In the Future

As I’ve given more thought  to the recent tax law changes, it has become apparent to me that married couples with a small or no mortgage on their homes will have a difficult time itemizing their deductions starting in 2018.  With the standard deduction increasing to $24k in 2018, and the deduction for state and… Continue reading Lock In the Valuable Charitable Donation Even If You Won’t Itemize In the Future

General

Buying and Selling Mutual Funds at Year End – Be aware of Year-End Distributions

With the year-end upon us, many investors see it as the time to rebalance their investment portfolios.  However, savvy investors need to be aware of just when the timing is “right” or “wrong” to make that buy or sell trade happen. Mutual funds are required by law to distribute the income earned within the fund… Continue reading Buying and Selling Mutual Funds at Year End – Be aware of Year-End Distributions

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Can I pay for my child’s private school tuition using his 529 plan?

Recently, a client sent us the question "Can I pay for my child’s private school tuition using his 529 plan?". Unfortunately, the answer is no. Tax free distributions from a 529 plan can only be used for post-secondary education expenses. However, there is an alternative method to fund both private school and public-school expenses for… Continue reading Can I pay for my child’s private school tuition using his 529 plan?

2017 Year End Newsletter

Year End Projections Can Reduce Your Taxes

With the end of the 2017 calendar year quickly approaching, reviewing your specific tax situation may be tax-wise to help reduce your income taxes as well as possible underpayment of tax penalties. Year-end planning techniques to reduce your taxable income or increase your tax saving deductions may be available for you to consider before the… Continue reading Year End Projections Can Reduce Your Taxes

2017 Year End Newsletter

IRS Announces Higher Retirement Plan Limits for 2018

Most working professionals have access to a 401(k) plan or a 403(b) plan at work.  Amounts contributed to these plans generally reduce your taxable earnings and always grow tax deferred.  You can contribute up to $18,500 into a 401(k) or 403(b) plan through salary deferrals in 2018. Anyone 50 or older by December 31, 2018… Continue reading IRS Announces Higher Retirement Plan Limits for 2018