Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Principal Jennifer J. Thomas, CFP®, and Senior Associate Jarrett McKenzie, CFP®, CWS®, to discuss how the Tax Cuts and Jobs Act changed the deductibility of casualty losses, and how taxpayers need to understand what their insurance covers.
Indices closed well into red territory on Monday with both the S&P 500 Index and Dow Jones Industrial Average declining more than 4%. Oil also slipped 1.9% to settle at $64.24 a barrel. Meanwhile, services industry activity increased in January as the ISM non-manufacturing index jumped to 59.9 from 56 in December.
The Tax Cuts and Jobs Act made some significant changes for individuals taking deductions on personal casualty losses after a disaster. hensslervideo_insurance
The Tax Cuts and Jobs Act made some significant changes for businesses, including lower corporate tax rates, provisions for pass-through entities, expanded Section 179 expensing and bonus depreciations, and provisions for foreign income. We explain in this week’s Business Tip.
In Today’s Marietta Daily Journal, Bil Lako, CFP®, explains the changes to the Kiddie Tax that discourages parents from shifting income-producing assets to a child. Read the Article
With the late passage of the Tax Cuts and Jobs Act, the IRS is scrambling to update withholding tables for employers. Keep an eye on your net pay. If the change is too radical you could end up owing tax. We explain in this week’s Tax Tip.
529 Plan account owners can now transfer funds without federal tax consequences from a 529 plan to an ABLE account, a tax-advantaged account for disability-related expenses for individuals who become blind or disabled before age 26. We explain in this week’s Financial Tip.
The Tax Cuts and Jobs Act made some significant changes in the way a child’s income is taxed. hensslervideo_tax
Managing Associate, D.J. Barker, CWS®, joins anchors Troy Harmon, CFA, CVA, and Shawna Theriault, C.P.A., CFP®, CDFA®, to discuss how the Tax Cuts and Jobs Act changed the Kiddie Tax and highlight what you need to know if your child has unearned income.
Indices closed in the red zone on Monday, as the Utilities and Energy sectors lagged on the S&P 500. The slip continued Tuesday with the major indices closing the session in red territory. Energy brands dipped on a slip in crude oil prices. Midweek, the indices rebounded up off back-to-back downswings with stocks stepping up on a variety of economic news.