Browsing: Taxes

Navigating the Financial Impact of a Job Change

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

New Tax Strategies

The new tax laws that took effect on January 1 are the most significant changes in over 30 years. While most Americans are beginning to enjoy the tax cuts with an increase in their net paychecks, there are opportunities to enhance your tax savings with some new strategies. Itemized Deductions One of the most significant… read more

New Year’s Resolutions for Your 401(k)

Happy New Year, especially for your 401(k)! Year-end 401(k) and other retirement plan statements are now coming out and there’s reason for excitement: the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all posted excellent returns in 2017. Even the international markets, which have lagged the last few years, participated in the rally. So… read more

Retirement Tax Planning Opportunities

Pre-retirees are often focused on how much money that they’ll be able to draw for their retirement income, but how much you can spend will depend on how the withdrawals are taxed.  Incorporating sophisticated tax planning into your retirement income plans can offer some opportunities to save a substantial amount of taxes. Most couples with… read more

Now What

Politics Investors reacted to Tuesday’s election results by selling stocks.  The Dow Jones Industrials Average fell 2.4% last Wednesday, though that was less than the nearly 5% drop after the 2008 election.  With the election behind us now the “fiscal cliff” looms a few weeks ahead if President Obama, House Speaker Boehner and Senate leader… read more

IRS Audits 529 Plans

Recently we have seen audit activity by the IRS focusing on redemptions from 529 college savings plans. This is a bit surprising given the fact that 529 plans are relatively new. The IRS is unlikely to find large investment gains built up in these vehicles nor are any penalties for non-qualified withdrawals likely to be… read more