It’s been a heck of a tax season.
With what started out as a “simplified” tax law, with data already telling us that approximately 85-90% of American taxpayers paid LESS income taxes under the new tax law…. the reality is that the 10-15% of taxpayers who paid MORE federal income taxes under the new law are a somewhat unhappy – justifiably – group of Americans (as well as being you, my friends and clients).
Cash flow. Wouldn’t you like to have more of it around tax time? Well then, it may be time to delay or reconsider that new cell phone purchase.
Recently this “sticker shock” issue came to the forefront for me when I forked over $1,100 for my new Samsung Galaxy Note cell phone. OK, you may say, “Why didn’t you go with the zero-interest payment plan?” or, “Where have you been, Kerrie?” To which I would respond,
With it nearing the “home stretch” of tax time – probably most people’s least favorite time of the year – I figured I would pass along a couple of things that have helped take the edge off and keep me smiling. The caveat: everyone’s sense of humor differs, so what makes me laugh may or may not make you laugh.
The Movies. A cool way to “get away from it all” can be either to go to the movies or rent a movie at home – or binge-watch TV which has become more and more popular. Under the topic of movies, a well-done documentary can be especially funny or entertaining.
Talking taxes on a Friday is a lot easier than talking taxes on a Monday (thank you for reading in Winter Haven, FL)! And believe it or not, at this time of year it is good to be talking taxes no matter what. Preparation and planning are the name of the game. *
Here’s some “good” news when it comes to taxes and tax strategies: the Roth IRA, Roth IRA conversion and Roth 401k are alive and well. The “good” part is that for nearly ALL of you reading this, you ARE eligible for both the Roth IRA conversion and the Roth 401k (if your company offers a Roth 401k) even if you are in the higher/highest income brackets or own a business! And these strategies can be employed NOW for 2019. Continue reading “A Tax Strategy You May Not Know”
TGIF 2 Minutes needed to take a brief hiatus and get re-charged with fresh topics and ideas. So, what better time than a Monday to start looking forward to Friday…and talk taxes, tax filings and tax refunds?!
As we roll full steam into the New Year 2019 it helps to be aware of a handful of changes related to taxes and tax-deductible contributions to 401k plans, IRAs and the like.
Important to recognize (when in a calm state of mind) is that with last year’s introduction of one of the most sweeping tax law changes in decades, filing for tax year 2018 may contain both pain, in terms of lost SALT deductions, and valuable lessons for how to proceed in tax year 2019. In the meantime, consider the following.*
It is nearing year-end and I cannot emphasize enough how important it is to double-check certain items NOW. The best financial advisers can and should be drawing your attention to these items in order to make your year-end easier and less stressful.
Here is a list of questions I review annually with clients:
Thank you to my friend and loyal reader, Bob, for the title of today’s edition. The idea of “reflection” came up last weekend while I was enjoying time in a wonderful Southern beach town where the restaurants and bars were full, the sidewalks hopping with people of all ages, the lovely (large) homes newly built or renovated, people enjoying relaxing time on the beach – even the dogs’ tails were wagging with joy! Times are GOOD in lots of places!
These things are what we live for. These things also take planning and discipline – because good times come in cycles. Nearly everyone with whom I spent my weekend is engaged in a different and exciting line of work: from real estate finance, to “retired”, to the medical profession (both human and animal), to start-up tech… to owning or having sold their own businesses. Conversations were around “what’s next?” in terms of work, homes, vacations, kids’ camp, and kids’ college. Continue reading “Reflections From the Beach”
Have you heard about the increasing move or “migration” of jobs and corporate headquarters to cities OTHER than New York and San Francisco? Recent reports highlight not just the move of mere jobs but also the move of the CEO and corporate HQ! Several underlying factors including taxes and home affordability are worth considering.
Welcome to 2018. In checking out Dictionary.com I found:
“No rest for the weary definition. You must keep persevering no matter how tired or overworked you are.”
This could be the mantra of my readers, no matter if you are in your first job, running a company, or retired. If you want to be successful and informed, it takes hard work to wake up – and keep up – in America today. Continue reading “No Rest for the Weary”
