Year-End Tax and Financial To-Do List
2019 will be here soon. Have you taken care of everything you need to do by Dec. 31 to minimize your 2018 taxes, make the most of tax-advantaged savings opportunities and avoid unnecessary penalties?
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.
Advantages of ‘Catching Up’ on your IRA Contributions
The income reduction from making catch-up contributions to your retirement plan might be especially beneficial in 2018 if you had significant itemized deductions in the past that now will be reduced or eliminated by the TCJA. Here’s what you need to know.
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.
Fringe Benefits & Small Businesses
The tax treatment of fringe benefits varies. Many types are tax-free to employees, but the TCJA has changed the tax treatment of some benefits. Here’s what small businesses need to know.
The Benefits of Charitable IRA Rollovers in 2018
With the TCJA’s near doubling of the standard deduction, making a direct charitable IRA rollover can be particularly powerful for taxpayers old enough to be eligible.