2018 Year End Newsletter

A New Opportunity to Defer (and Possibly Wipe Out) Capital Gains Tax

One of the most interesting wrinkles of the Tax Cuts and Jobs Act, passed last December, was the creation of Opportunity Zones. According to the IRS, Opportunity Zones are particular distressed communities throughout the country in need of economic revitalization.  Under a nomination process completed in June 2018, 8,761 communities in all 50 states, the… Continue reading A New Opportunity to Defer (and Possibly Wipe Out) Capital Gains Tax

2018 Year End Newsletter

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

2018 Year End Newsletter

New Rules for Small Business Energy Exemption

As of January 1, 2019, the process for claiming a small business energy exemption will be changing.  For 2019 and later years, small businesses will apply online for an exemption certificate rather than submitting Form ST-13 to their energy provider.  The certificate will be effective for two years, rather than one year as it had… Continue reading New Rules for Small Business Energy Exemption

2018 Year End Newsletter

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

2018 Year End Newsletter, November 2018 Newsletter

It’s Open Enrollment Season. Time to Take a Good Look at HSAs

To the best of my knowledge, contributing to a Health Savings Account (HSA) is the only investment opportunity that allows for tax-deductible contributions and tax-free withdrawals. Please note that only individuals with a qualifying high-deductible health insurance in place are allowed to contribute to an H.S.A. You can ask your health insurance provider if the… Continue reading It’s Open Enrollment Season. Time to Take a Good Look at HSAs

November 2018 Newsletter

2018 & 2019 Tax Facts

For 2018, the standard deduction for a single individual is $12,000 and for a married couple is $24,000. A person will benefit by itemizing once allowable deductions exceed the applicable standard deduction. Itemized deductions include state and local income taxes (or sales taxes) AND real estate taxes limited to $10k per year, mortgage interest, charitable… Continue reading 2018 & 2019 Tax Facts

2018 Year End Newsletter, November 2018 Newsletter

Social Security Max Increases to $132,900 for 2019

Most years, the government bumps up the maximum Social Security taxes that you can pay.  For 2019, the maximum wage base jumps to $132,900, an increase of $4,500, or 3.5%, over the max of $128,400 that was in place for 2017. At a rate of 6.2%, the maximum Social Security taxes that your employer will… Continue reading Social Security Max Increases to $132,900 for 2019

2018 Year End Newsletter, November 2018 Newsletter

IRS Announces Higher Retirement Plan Limits for 2019

Contributing to a retirement plan is one of the best tax shelters available to you during your working years.  Recently, the IRS announced that many of the retirement savings limits will increase for 2019. Employer Sponsored Plans Most working professionals have access to a 401(k) plan or a 403(b) plan at work.  Amounts contributed to… Continue reading IRS Announces Higher Retirement Plan Limits for 2019