Income Tax Planning

Tax Cuts and Jobs Act: Impact on Small and Medium Sized Businesses

SKWealth Podcast – Episode 6 In this episode, we shift gears from our last podcast discussion on the impact of the new Tax Cuts and Jobs Act to individual taxpayers, and discuss how the Act affects small and medium sized businesses. The Act has been touted as a clear win for...

Tax Cuts and Jobs Act: Impact on Individuals

Individual Tax Reform

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act, a sweeping $1.5 trillion tax-cut package that fundamentally changes the individual and business tax landscape. While many of the provisions in the new legislation are permanent, others (including most of the tax cuts that...

2017 – the Year for Charitable Giving

Charitable Giving

-by Jason Archambault, CFP®, CPA/PFS, Managing Member As we approach the end of the year, strong markets and possible tax reform may trigger the biggest charitable giving year in U.S. history. An improving economy and strong market performance have generated significant appreciation of investment assets. The S&P 500® stock...

IRA and Retirement Plan Limits for 2018

IRA Contribution Limits The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2018 is $5,500 (or 100% of your earned income, if less), unchanged from 2017. The maximum catch-up contribution for those age 50 or older remains at $1,000. You can contribute to both a...

Social Security Changes: What You Need to Know

For married couples, the ability to coordinate Social Security claiming strategies can boost lifetime benefits. This ability to coordinate benefits is going away this spring as a result of the Bipartisan budget Act of 2015. The file and suspend strategy allows a wage earner who is at full...