Monthly Archives

November 2018

End of Year Tax Tips – Part 3

By | Taxes | No Comments

Low income year If your 2018 income is lower than usual (temporary unemployment, recent retirement, etc.), consider claiming extra income while you’re in a lower tax bracket. Please contact Griffin Black if you’d like to discuss the following strategies: Qualified Business Income The new tax law introduced a 20% deduction…

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End of Year Tax Tips – Part 2

By | Saving & Budgeting | No Comments

College Planning 529 Plans. 529 plans are college savings plans where the earnings grow tax free until they’re used for educational expenses. Please contact Griffin Black soon if you’re interested in setting up a 529 plan. Financial Aid. Your 2018 income will be used to determine your financial aid eligibility…

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End of Year Tax Tips – Part 1

By | Taxes | One Comment

As we approach 2019, there are a few strategies to take advantage of before the end of the year to reduce your tax bill. Tax-deferred Savings The 2018 limit for elective deferrals to employer retirement plans (401(k), 403(b), etc.) is $18,500. If you’re over age 50 by the end of…

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