March Madness 2018. The Big Dance is finally here, bringing days of non-stop basketball excitement and often, an office pool or two. There are a few things we can count on this time of year; first the quick switch of the screen from March Madness games to the Wall Street Journal as the boss walks by, and second, that the co-worker who organized the tournament office pool isn’t going to send you a W-2G detailing your winnings.
I wrote a similar blog last year but I think it is important to remind people that…
There are still tax savings strategies, for tax year 2017, you can implement before the April 17th tax deadline. Two major opportunities, which I have outlined in further detail below, include contributing to a Health Savings Account, and contributing to an IRA.
On Friday, Congress approved a bill that extends tax breaks that expired at the end of 2016 through 2017. I know what you are probably thinking…it is the middle of February 2018 and Congress just passed a bill to extend provisions for tax year 2017?!?
With all of the federal tax changes starting in 2018, one of the questions that follows is how does this impact New York? Some good news for New York residents is the NYS Senate passed a bill to protect taxpayers from a $1.5 Billion State Tax Hit, from changes imposed under the Tax Cuts and Jobs Act. However, the bill still has to go to Assembly, and then to Governor Cuomo for approval. NYS residents are not in the clear from this tax hike yet.
With all of the changes that the new tax bill has brought about, it leaves many people uncertain as to how to start planning for the 2018 tax year. With uncertainty brings the ability to take a fresh look at your current situation. It brings the ability to stay ahead of change and start planning for the future. The ability to meet your goal of having a secure financial future.