Tax Planning

Articles and resources related to Tax Planning.

An Update from the Tax Team: Charitable Giving Strategies in Light of the Tax Cuts and Jobs Act of 2017

Kevin Koski
Kevin Koski, CPA
Director of Tax Services
Published April 17, 2018

The Tax Cuts and Jobs Act of 2017 has become a catalyst for taxpayers to revisit their charitable giving strategies. Under the new law, many taxpayers will no longer be able to itemize deductions on a regular basis due to the following changes: The standard deduction has been increased from $12,700 to $24,000 for a married couple filing jointly ($26,600 if both spouses are age 65 or older) and from $6,350 to $12,000 for a single taxpayer. The deduction for state income taxes and real ... [Continue Reading]

2018 IRA Actions Related to your 2017 Tax Return

Posted on February 8, 2018
 

IRA’s (Individual Retirement Accounts) are one of the most common ways to save for retirement. Conceptually, they are familiar to many, but the details related to and surrounding these types of accounts can be confusing. Many investors are also familiar with Roth accounts, which are a type of an IRA. This time of year, January thru April 15, is a critical time to understand IRA parameters since during that time you can address both tax years--2017 and 2018. In this article by Jim Glass of The ... [Continue Reading]

An Update from the Tax Team: The Tax Cuts and Jobs Act of 2017

Kevin Koski
Kevin Koski, CPA
Director of Tax Services
Published January 15, 2018

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act. The changes in the Act represent the most sweeping change to the U.S. tax code in many years and impact individuals and businesses on a level not seen in over 30 years (since 1986, when the Internal Revenue Code was amended). This quarter, we wanted to provide you with a summary of the most relevant provisions. Two additional resources, including the full 570 page report from the Conference Committee, can be found ... [Continue Reading]

An Update from the Tax Team: First Look at Potential Tax Reform

Kevin Koski
Kevin Koski, CPA
Director of Tax Services
Published October 25, 2017

On Wednesday, September 27, 2017, the Trump Administration, House Committee on Ways and Means, and the Senate Committee on Finance released a document titled, “Unified Framework for Fixing our Broken Tax Code”1 with the hope that it will provide a framework for the upcoming debate on tax reform. The proposal is missing many key details, but it does provide a general overview of the changes that we may ultimately see. For this quarter’s Tax Update, we thought you might want to see a summary of ... [Continue Reading]

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