Browsing: Financial Planning

Upcoming Tax Changes

Upcoming Tax Changes

Today is the deadline to file and pay your 2018 income taxes, but it’s not too early to start looking at 2019 tax planning and potential changes for 2020 and beyond. Both Congress and the IRS have changes in mind. The House Ways and Means Committee recently passed the SECURE act that would make a… read more

Tax Refund or Tax Cut?

We’ve often heard frustrated people exclaim, “I had to pay taxes this year” when faced with writing a check to the IRS in April. The fact is, unless they’re very low income, most people pay taxes every year, mainly through the withholding from their paychecks, pensions or Social Security. With the dramatic change in the… read more

Are You a Buncher?

As the holidays roll around many people do their annual charitable giving.  And these gifts usually come from the heart.  But there’s also the tax deduction.  Unfortunately, this year many taxpayers may find that their charitable donations won’t be deductible, though they may not learn that until their tax return gets filed in a few… read more

A Survey Course in College Funding

Many parents have kicked off a new school year and their children are one year closer to heading off to college.  While that’s an exciting time in many households, it begs the question of how do I pay for it, and what incentives are out there? It’s easy to get lost in the noise of… read more

Where Will You Find Our Clients?

One question we sometimes get is “where do our clients live?”   We decided to take a look, and the findings may surprise you. Clients and friends often assume that most of our clients live in the Ann Arbor area, but just over a quarter of our clients actually reside in Ann Arbor. And while the… read more

Senior Tax Savings

With the passage of the Tax Cuts and Jobs Act that increases the standard deduction to $24,000 for married couples ($26,600 for those 65+) and $12,000 for single filers, the textbook recommendations for itemizing deductions are being rewritten. A key deduction that hasn’t been altered significantly despite the changes in the tax code is the… read more

2018 Taxes— Will You Get a Tax Cut?

Our Vintage tax team just finished our eleventh tax season and completed over 200 returns this year. But next season will be very different due to the Tax Cuts and Jobs Act passed late last year. The new changes include an overall reduction of tax rates, elimination of personal exemptions, increase in the standard deduction,… read more