by Boris Benic | Nov 27, 2018 | Blog
November 27, 2018
Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want to make “catch-up” contributions by the end of the year. Increasing your retirement plan contributions can be particularly advantageous if your itemized deductions for 2018 will be smaller than in the past because of changes under the Tax Cuts and Jobs Act (TCJA).
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by Boris Benic | Nov 20, 2018 | Blog
November 20, 2018
As we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips.
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by Boris Benic | Nov 13, 2018 | Blog
November 13, 2018
The Tax Cuts and Jobs Act (TCJA) has enhanced two depreciation-related breaks that are popular year-end tax planning tools for businesses. To take advantage of these breaks, you must purchase qualifying assets and place them in service by the end of the tax year. That means there’s still time to reduce your 2018 tax liability with these breaks, but you need to act soon.
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by Boris Benic | Nov 6, 2018 | Blog
November 6, 2018
A tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term appreciated stock instead of cash?
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by Boris Benic | Oct 31, 2018 | Blog
October 30, 2018
Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your tax advantage. The Tax Cuts and Jobs Act (TCJA) could make bunching such expenses into 2018 beneficial for some taxpayers. At the same time, certain taxpayers who’ve benefited from the deduction in previous years might no longer benefit because of the TCJA’s increase to the standard deduction.
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by Boris Benic | Oct 25, 2018 | Blog
Divorces sometimes are as financially debilitating as they are emotionally draining. But as difficult as ending a marriage can be, as many as 876,000 Americans deal with it each year. Though the recovery process, both emotionally and financially, might take time, it also gives you the opportunity to exercise your financial power and independence. (more…)
