Posts Tagged 'Taxes'

7 Simple Tips for Filing Your 2018 Taxes

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Now that 2018 is coming to an end, here are a few money-saving tax tips you can implement soon that may put more money in your wallet later. Tip No. 1► Take Your Losses Take time to review your portfolio. If you have losses, consider selling them before year-end. Taking a loss offsets capital gains made in your other positions. You can write off or claim your net capital losses up to $3,000, or $1,500 if you’re married and filing separately. And according to IRS.gov, if your ... Continue Reading →
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How Do The New Tax Laws Affect Landlords?

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Many of my clients are concerned about how the new tax laws will affect their ability to have both write-off and a good return on their real estate investment(s). I will try to explain how the new tax laws will affect individual investors: New Pass-Through Tax Deduction For landlords, the most stunningly good provision of the new tax laws is a new tax deduction for owners of pass-through businesses. This includes most residential landlords who own their rental property as sole ... Continue Reading →
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It’s time to review your 2016 IRA contribution limits for 2016

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As I have mentioned several times before you should be meeting with and/or at minimum teleconferencing both your accountant and financial advisor prior to the end of each calendar year to strategize about your retirement to make sure that; 1) you are in the right retirement plan and 2) that you have fully funded it – primarily based upon your individual specifics, i.e. workplace retirement plan and AGI/MAGI (Adjusted Gross Income & Modified Gross Income) limits (to be explained later), ... Continue Reading →
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