With less than a month left in 2018, time’s running out for you to finish your wealth management and tax planning to-dos. Many tax opportunities have an annual expiration date of Dec. 31, and this year presents unique possibilities. Here are 10 items you can check off your lists before the ball drops on New Year’s Eve.
This is a recording of the presentation we have been giving on the changes to the tax code and how its going to impact everyone. If you are interested in reviewing how the law will impact you and your personal tax situation you can reach out to us to schedule a complimentary tax action plan. Contact us at 336-310-4233 or phuminski@thoriumwealth.com to schedule your time. You can also visit www.thoriumwealth.com to contact us.
Most of us have been watching the twists and turns of the recently signed Tax Act with bated breath—what Senators will hold out, which last-minute provisions will sneak in, and most important of all, how will the law affect us, our clients, and the American public?
Well the waiting is done and I have spent most of the New Year’s Weekend reading the bill. There are still several things we need to understand like how the elimination of deductions, compression of tax rates, and brand-new benefits for certain taxpayers will affect all of us. According to the Tax Policy Center, four out of every five taxpayers can expect a reduction. How big a reduction will depend on many factors and many lower income tax payers will notice only a small decrease while people living in high property and state income tax areas will likely see an increase. (more…)
With Tax Day fast approaching I thought I would share some of the most commonly overlooked tax deductions. If you are like me you look at the tax code and it drives you crazy. At last count the tax code was almost 75,000 pages long.* How do CPAs deal with it every day.
Before I give you the 6 most overlooked deductions remember to consult a qualified CPA or tax professional before you decide to implement any of these.
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