How The New Tax Law May Affect Your Income Tax Return

You may notice several of the following items that may affect your individual income tax return: A change in the tax rates which should result in most people paying less tax during the year. However, the increase in the standard deduction, suspension of personal exemptions, an increase in the child tax credit and the limiting […]

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Let’s Get Ready For Tax Season

Let’s Get Ready For Tax Season

Tax season is upon us and we have begun to receive those pieces of mail marked “Tax Information – Important”.  So now what?  Here are some suggestions to help ease the stress of tax season. Where do we start?  The best place to start is to find a copy of last year’s return.  Even if […]

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Checking In On Your Resolutions – #2

Last week we started our check on our resolutions and we will wrap up our suggestions this week. ARE YOUR HARD-EARNED ASSETS WORKING FOR YOU?  If you have a savings account or certificates of deposit, are you getting the best interest possible on these assets?  If you have a brokerage account, are your assets working […]

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Checking In On Your Resolutions

So, we are in the first full week of January and life is regaining a normal routine.  How are you doing on your resolutions?  Last week, Yasmeen Khaleel gave a list of suggestions of areas to address with regard to estate planning.  If you read that blog, have you even given it any further thought?  […]

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Salient Considerations in a Time of Transition

NEW YEAR’S RESOLUTION WELCOME 2019!  The new year is upon us and like most individuals, you may have made resolutions for the new year.  Often times when making resolutions, we forget to address the important matters and I challenge you this year to think outside the box and make a resolution to address your estate […]

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As The Year Winds Down…

It is hard to believe that 2018 will soon give way to 2019.  Where does the time go? When I was younger, whenever I would wish for some date in the future to be here – my birthday, the end of school, a special event, my mother would tell me not to wish my life […]

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What Happens If Large Gifts Are Made Now?

With the Tax Cuts and Jobs Act of 2017, the increased gift and estate tax exclusion amounts are set to sunset in 2025.  The exclusions are $11.2 million in 2018 and will increase each year until 2025, indexed for inflation.  But, what will happen if you make a large gift now?  Will you risk the […]

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Don’t Get Scammed

Tis the season. . . . For a risky time for people and their sensitive data.  Online shopping, impostors posing as charities seeking donations, spam, robocalls, tax scams, . . . . What can you do to protect your information?  The IRS encourages people to review some simple steps to protect their data and protect […]

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The Dark Web

This term is becoming increasingly heard – but do you know what it is and how it may affect you? OK, so what is it?  According to Wikipedia, the darknet websites are accessible through specific networks and certain accessible sites used widely among darknet users and provides anonymous access to the internet.  Specializing on allowing […]

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How the Tax Cuts and Jobs Act Tax Affects Itemized Deductions

Due to the TCJA or recent tax reform, in addition to nearly doubling standard deductions, several itemized deductions that can be claimed on Schedule A, Itemized Deductions have changed. Many individuals who formerly itemized may now find it more beneficial to take the standard deduction. Here are some of the changes to Schedule A for […]

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