Casualty Losses: Disasters Can Strike Regardless of Income or Wealth
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains that personal casualty losses are no longer deductible unless it is the result of a presidentially declared disaster for tax years beginning in 2018. Read the Article
Don’t Wait to Ask Aging Parents These Important Questions
The best time to plan for your parents’ aging is when they are relatively healthy; otherwise, you may find yourself making critical decisions on their behalf during a crisis. We explain in this week’s Estate Planning Tip.
Medical Deductions & The New Tax Law
Those with substantial medical bills will be delighted to learn that medical deductions were retained in the Tax Cuts and Jobs Act, and the AGI floor was lowered to 7.5% for 2017 and 2018. We explain in this week’s Tax Tip.
The Market Correction is the Time to Buy
Bil Lako, CFP®, Sean Hannity’s financial expert, explains why a pullback in the stock market is a good opportunity for investors. Read the Article
Your Home as a Source of Dollars in Retirement
The equity in your home could be one of your largest assets, especially if your mortgage has been paid down over the years or paid off. We explain in this week’s Financial Tip.
Tax Cuts and Jobs Act: Impact on Businesses
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.
The Kiddie Tax Ensures the IRS gets Some of Your Child’s Unearned Income
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
Will Your 2018 Withholding Be Right?
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.
Tax Cuts and Jobs Act: 529 Plan Transfers to ABLE accounts
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.
Immediate Tax Benefit for Capital Expenditures
In today’s Marietta Daily Journal, Bil Lako, CFP® explains how businesses can upgrade their equipment and take a much larger tax write-off in 2018. Read the Article