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Saving for Retirement in 2019

How much you can contribute to your retirement plans each year depends in part on the annual limits. Sometimes these go up from one year to the next, and sometimes they don’t. Learn what’s changed and what hasn’t for 2019.

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.

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.

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.

TCJA and AMT

The alternative minimum tax (AMT) has long been a worry to many individual taxpayers. Learn how TCJA changes might affect your AMT risk, and see our AMT planning tips.

TCJA & Estate Planning

Your estate plan may need a tax update in light of the Tax Cuts and Jobs Act, even if your estate is well under the new $11.18 million estate tax exemption.

Do You Need to Adjust Your Withholding?

Post-TCJA withholding tables could put you at risk of significantly underwithholding your federal income taxes and being hit with an unexpectedly high tax bill when you file your 2018 tax return next year. Here’s what to do to avoid this outcome.