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Tax

Investment Tax Planning 2020

Investment Tax Planning 2020

There are several planning areas that investors should potentially consider in doing their year- end tax and financial planning. Some or none may apply to you, but it is worth your consideration to see which ones apply to your circumstances and talk with your trusted...
New Rules for 529 Plans

New Rules for 529 Plans

Easing the burden of paying for education The Tax Cuts and Jobs Act of 2017 will expand the use of 529 Plans to allow savers to accumulate money and pay for education on a tax-free basis. Before we discuss the changes let’s review the basics. A 529 Savings Plan is an...
NJ Governor signs SALT deduction workaround into Law

NJ Governor signs SALT deduction workaround into Law

New Jersey Governor Phil Murphy signed into law May 4th, 2018 the State and Local Tax Deduction bill that would allow New Jersey municipalities to create charitable funds through which NJ taxpayers can donate in exchange for a tax credit of up to 90% of their donation...
Explaining “Backdoor Roth IRAs”

Explaining “Backdoor Roth IRAs”

Learn how higher income earners can contribute to a Roth IRA ROTH IRAS ARE A POWERFUL WAY TO SAVE FOR RETIREMENT Contributions into a Roth IRA are not tax deductible. However, the earnings in the account accumulate tax deferred, and can be distributed completely tax...
Taxation of Investment Income

Taxation of Investment Income

Not all investment income is taxed the same. Thanks to the IRS, the tax code regarding your investments is constantly changing, and keeping up with these changes is important to optimize the tax efficiency of your portfolio. Remember, it’s not what you make but what...