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Annual Contribution Limits for 2019

As 2018 is comes to a close, we all begin to look ahead to 2019. For 2019 many of the contribution limits increased from their 2018 levels. In calculating these, IRS compares the official cost of living increase from September of 2018 to September of 2017. Because the cost of living was higher in 2018 many of the indexed (for inflation) contributions, limitations, thresholds, etc in the IRS were adjusted.

2019 Quarter One Tax Calendar

A lot has changed for businesses when it comes to filing their 2018 income tax returns. But one thing that hasn’t changed is the multitude of tax-related deadlines businesses face in the first quarter of the year.

Does Prepaying Property Tax Makes Sense Anymore?

You may be getting ready to prepay your property taxes like you’ve done every year to boost your itemized deductions. But this year, review your situation first to be sure this strategy will provide a tax benefit. The TCJA made two changes that affect it.

Mutual Fund Holdings Review

Investment decisions shouldn’t be driven by tax considerations alone, but taxes are still an important factor to consider, especially when it comes to mutual funds in taxable accounts. Consider these year-end tips.

Buying Business Assets Before Year End

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...

Tax Benefits for Donating Appreciated Stock

For certain charitably inclined taxpayers, donating appreciated stock to charity can be an excellent year-end tax planning strategy. This may be especially true if the stock is highly appreciated and you’d like to sell it but are worried about the tax liability.

Tax Consequences for Gifting Assets

Because of the high exemption under the TCJA, few Americans have to worry about facing federal gift and estate tax liability in the next several years. But no matter your current net worth, it’s still important to be tax-smart when making lifetime gifts.