Category: Tax

Something You Can Do During a Bear Market

During times of stress we naturally feel the urge to take some kind of action, if only to create the illusion that we have some degree of control over the situation. But advisors are saying (correctly) that market timing is unpredictable and that selling stocks during the current market meltdown would achieve nothing except to…
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Understanding the New SECURE Act

Congress and President Trump just passed the bipartisan Setting Every Community Up for Retirement Enhancement (SECURE) Act as part of another spending bill needed to keep the federal government operating for a few more months. The SECURE Act represents one of the biggest changes to retirement planning since 2010, and although there are some negative…
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Tax Refunds Were Lower in 2018. So What?

Just a heads up that this is going to be another media rant. But not the typical kind in which I take issue with the media spending less time on reporting facts than on speculating about them. This time it’s about taxpayers getting $6 billion less in refunds from their 2018 tax returns than they…
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How Still To Get Charitable Tax Deductions

As a result of the passage of the Tax Cuts & Jobs Act in 2017, taxpayers (especially in California) may find themselves losing some of the deductions they used to get for charitable contributions on their 2018 taxes. Let’s use a simple example to explain this. Suppose you are married and have the following annual…
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How Your Pet Can Save You Taxes

In honor(?) of tax reporting season, here are some ways you might be able to use your pet to save money on your income taxes.  Thanks to Emily Zulz of ThinkAdvisor.com for having compiled the original list. Hire your pet for your small business. You heard that right! If you are a small business owner,…
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New Tax Rules; What To Do Next?

With the passage today of the Tax Cuts And Jobs Act Of 2017, CFPs and CPAs are already digging in to figure out the best new tax strategies that will enable clients to keep as much of their earnings and savings as possible.  Even if Congress should shift to a Democratic majority in 2019, the…
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