Along with important criteria relative to integrity, credentials, experience, education, services offered, and fees, we suggest that you ask the following 5 questions to gain valuable insight into the quality of relationship you can anticipate and how it will impact your overall financial health.

While the TCJA drastically changed several tax provisions, many year-end planning tactics remain. Managing taxable income is important not only for the new QBI deduction, but also for the additional Medicare tax and Net Investment income tax. Lowering your taxable income may also enable you to claim credits and other tax breaks that are phased out over varying levels of AGI.

Entertainment expenses are no longer deductible; however, meals remain deductible and are still subject to the 50% limitation. For example, if you take a client to a baseball game—and purchase tickets, hot dogs, and drinks—the cost of the ticket is not deductible, but the hotdogs and drinks are allowed as a deduction subject to the 50% limitation.