My wife and I bought our first home at the beginning of last year and for the first time in our lives, we itemized on our 2017 return. With the standard deduction doubling in 2018, we quickly found ourselves in the position where we would not be able to itemize, just like so many other taxpayers. Heeding the advice of my tax-knowledgeable coworkers, we prepaid everything we could before the end of 2017 and now find ourselves better situated to itemize every other year.
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With the demise of DOMA (the Defense of Marriage Act), now all couples can ask “Should we get married?” If you are considering marriage, your main consideration should obviously be whether or not you want to get married! Assuming the answer is yes, you will need to weigh the importance of the financial impacts vs. your personal preferences.
Thousands flock to California each year for the beautiful weather, warm beaches and pleasant scenery. It is very common for a person to have a vacation home here while maintaining an entirely separate life in another state.
Over a decade ago, Rowling & Associates was tired of spending almost a week out of every month rebalancing client accounts. The time had come to invest in a cutting-edge, automated rebalancing tool to help facilitate the process.
As the end of 2016 approaches, there are several tax planning moves you can make to minimize your tax liabilities and possibly minimize your tax liability in the future. Not every option will work for every taxpayer; however with a little planning you may be able to save a lot of money.
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