We just enjoyed the 4th of July fireworks and festivities, but the winter holidays are already on my brain. Why? It’s time to start the planning process for our annual Holiday Luncheon and White Elephant Gift Exchange. Yes, you read that correctly, it’s time to plan for December. Every year, the Academy hosts a holiday luncheon for our on-site team members. The time and date are strategic. It is always the first Friday in December and instead of a dinner we have a lunch event. We want to show … [Read more...] about Shifting from Fireworks to Candy Canes – Now is the Time to Plan Your December Parties
Holiday
Tax Tips after New Year
The ball has dropped in Times Square and we’ve bid farewell to 2018. But there are still a few things we can do to adjust our tax liability for 2018 before filing tax returns on April 15. First, you’ll need to organize all your tax records. That way, you’ll have some idea of what your tax liability might be. After you’ve organized your tax records, if you find you will owe money, there are a couple things you can do. You can contribute to your IRA for 2018. That’s right, even though it’s … [Read more...] about Tax Tips after New Year
Turning the Page on 2018 and Looking Forward to 2019
There are a few changes for 2019. Going into 2018, there were many changes because of a new tax law, commonly known as the Tax Cuts and Jobs Act, which impacted both the estate tax and the income tax. But, there are few changes heading into 2019. It appears things are relatively stable, taxwise, at least for now. Of course, the estate and personal income tax portions of the Tax Cuts and Jobs Act still are set to sunset, but not until the end of 2025. For 2019, the exclusion increased nearly … [Read more...] about Turning the Page on 2018 and Looking Forward to 2019
New Year’s Greetings
There are many changes for 2018. Congress passed a last-minute tax law, which the President signed the last business day before the Holidays. Congress Passes New Tax Law Last week the Senate passed the new tax law, (which had been called the “Tax Cuts and Jobs Act” and due to Senate parliamentarian objections is now 'An Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018”) and then the House of Representatives passed … [Read more...] about New Year’s Greetings
New Year’s Greetings
There are very few changes for 2016. After years of uncertainty and a rollercoaster ride, we’ve reached stability. The exclusion changed a whopping 0.4%, from $5.43 million in 2015 to $5.45 million in 2016. That’s a change of only $20,000. Of course, the new exclusion is for estate and gift, as well as GST purposes. The present interest annual exclusion remains unchanged at $14,000. On the income tax front, the brackets and exemptions changed little, if any. As I mentioned last week, the … [Read more...] about New Year’s Greetings
Congress Gives an Early Christmas Present: Charitable IRA Rollover
Congress gave us an early Christmas present by passing permanent Charitable IRA rollover legislation, the Protecting Americans from Tax Hikes (PATH) Act of 2015. In the past, Congress would pass such legislation, but it would only be effective for that year. Typically, Congress would pass the legislation just before the holidays, and it would be effective only through the end of the year. So, taxpayers would need to scramble to take advantage of the “gift.” This time, Congress made it applicable … [Read more...] about Congress Gives an Early Christmas Present: Charitable IRA Rollover
Client Tip: “Prime the Pump” at the Holidays
I've talked for a few years about Thanksgiving as an opportune window for clients to talk with loved ones about their health care wishes and goals. For 2014, this ship has (obviously) sailed. But the December holiday season still presents an opportunity for you to give clients valuable advice on this subject. Most clients probably don’t want to have a full-blown, serious discussion with their families during December festivities. So rather than directing clients to sit their families down over … [Read more...] about Client Tip: “Prime the Pump” at the Holidays
Don’t be a Turkey: Host an Open House this Holiday Season
The holidays are usually a time to overindulge in a little turkey and mashed potatoes, or snack on home-baked goods and candies that make their way into the office every.single.year. It’s also a time to pick out that perfect gift for a loved one and most importantly, it’s a time to connect and reconnect with family and friends. The holiday season is also a great opportunity to connect and reconnect with clients, their friends and family and professionals whom you network with or want to network … [Read more...] about Don’t be a Turkey: Host an Open House this Holiday Season
