Category Archives: Taxes

As 2018 Ends, Year-End Tax Planning Is More Critical

This is a great article I found on www.CPApracticeadvisor.com Last December’s tax-reform bill upends conventional tax-planning strategies and dramatically changes the landscape for this year’s tax filings. The good news is that there is still time to ease the pain of the upcoming filing season – even this late in the year. To help individuals…
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5 Ways To Beat Taxes

Winston Churchill said, "We contend that for a nation to try and tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle." Unfortunately, many of our government officials today don't see it that way.  Now don't get the idea that I'm against taxes.  I agree…
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Why Inflation Is Your Enemy

Everyone knows about inflation, right?  It's causes the prices of things to go up over time.  When you're in your working and saving years, this isn't a huge deal and isn't always very noticeable.  Why is that?  Because while you're working, your pay is most likely going up every year, often at a rate greater…
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How Tax Law Changes Will Affect Your Charitable Giving Deductions

The 2018 tax law changes still allow you to deduct charitable donations, but due to some differences in the new law, many of you will no longer benefit from your charitable donations.  The standard deduction for a couple is now increased to $24,000.  This means that it may be in your best interest to take…
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2018 Tax Brackets

This was a great article from Business Insider on how the tax brackets will be different this year. President Donald Trump signed the Republican tax bill into law at the end of December. 2018 tax brackets have been changed under the new law, and are in effect starting this year.  There are still seven income tax brackets, but…
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The Equifax Breach: What To Do

I'm sure you've all heard by now about how Equifax was hacked into recently, and 143 million American consumers personal information was exposed.  The hack took place between May and July of this year, but Equifax only recently decided to inform the public about what happened. What Information Did They Get? The hacker's were able…
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More Tax Breaks For People Over 50

This article came from US News & World Report... After age 50, and especially at age 65, you can qualify for extra tax breaks. Older people get a bigger standard deduction, and they can earn more before they have to file a tax return at all. Workers over 50 can also defer or avoid taxes on…
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2015 Limits on 401(k) & IRA Contributions

[caption id="attachment_2381" align="alignleft" width="300"] Saving More For Retirement![/caption] One of the most common questions people ask me is "How much can I put into my 401(k), IRA, or Roth IRA this year?"  401(k), IRA and Roth IRA limits for 2015 are set by the IRS, and were just announced recently.  And it's good news for…
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