Act soon to save 2018 taxes on your investmentsDo you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments • you just need to carefully select which investments you sell.Try balancing gains and lossesIf you’ve sold investments at a gain […]

Check deductibility before making year-end charitable giftsAs the holidays approach and the year draws to a close, many taxpayers make charitable gifts — both in the spirit of the season and as a year-end tax planning strategy. But with the tax law changes that go into effect in 2018 and the many rules that apply […]

Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018?The answer, for some people, is yes — accelerating this expense will increase their itemized deductions, reducing their tax bills. But for […]

Mutual funds: Handle with care at year endAs we approach the end of 2018, it’s a good idea to review the mutual fund holdings in your taxable accounts and take steps to avoid potential tax traps. Here are some tips.Avoid surprise capital gainsUnlike with stocks, you can’t avoid capital gains on mutual funds simply by […]

Donate appreciated stock for twice the tax benefitsA tried-and-true year end tax strategy is to make charitable donations. As long as you itemize and your gift qualifies, you can claim a charitable deduction. But did you know that you can enjoy an additional tax benefit if you donate long-term appreciated stock instead of cash?2 benefits […]

Some of your medical expenses may be tax deductible, but only if you itemize deductions and have enough expenses to exceed the applicable floor for deductibility. With proper planning, you may be able to time controllable medical expenses to your tax advantage. The Tax Cuts and Jobs Act (TCJA) could make bunching such expenses into […]

Consider all the tax consequences before making gifts to loved onesMany people choose to pass assets to the next generation during life, whether to reduce the size of their taxable estate, to help out family members or simply to see their loved ones enjoy the gifts. If you’re considering lifetime gifts, be aware that which […]

529 plans offer two tax-advantaged education funding optionsSection 529 plans are a popular education-funding tool because of tax and other benefits. Two types are available: 1) prepaid tuition plans, and 2) savings plans. And one of these plans got even better under the Tax Cuts and Jobs Act (TCJA).Enjoy valuable benefits529 plans provide a tax-advantaged […]

Charitable IRA rollovers may be especially beneficial in 2018If you’re age 70½ or older, you can make direct contributions — up to $100,000 annually — from your IRA to qualified charitable organizations without owing any income tax on the distributions. This break may be especially beneficial now because of Tax Cuts and Jobs Act (TCJA) […]