While many Americans are aware of common deductions such as mortgage interest, there are other common deductions that are missed far more often. Together, these missed deductions can add up up to sizable adjustment. Here are five common deductions that are often missed.
This edition brings perspective to recent market volatility, explains how the recent tax reg changes may affect your charitable giving, and inspires you to volunteer to make a stronger community and a healthier you!
The 2017 Tax Act made significant changes to the tax laws. There continues to be opportunities to minimize income taxes for taxpayers that take a proactive approach in analyzing their situation on a multi-year basis.
Substantiate your charitable gifts to receive the tax deduction you deserve. A little organization and discipline can lead to better results and save you time.
Although the year is drawing to a close, you still have time to review your finances. Pausing to reflect on the financial progress you made in 2017 and identifying adjustments for 2018 can help you start the new year stronger than ever.
The holidays can be a busy time with parties, family commitments and shopping, not to mention approximately 400 college bowl games. Despite the flurry of activity, it is also a time when some diligence around personal finance can help reduce your tax liability, protect your family, and set yourself up for a great 2018.
If you are over age 50 and unsure about your ability to meet your retirement goals, there is still time to take action to meet those goals. The IRS allows special catch-up contributions that most individuals do not take advantage of – do not lose out on this gift from Congress.
In the article "401k Rollovers: To Roth or Not to Roth – 7 Fiduciary Questions" appearing in Fiduciary News, Steve Martin, JD, CPA, CFP®, provided insight on the pros and cons of converting 401k to the Roth IRA. Steve explains how a tax bomb may be waiting for those individuals that have relatively higher amounts in Traditional IRAs in their later retirement years due to the Required Minimum Distributions.
