2019 Tax Planning Strategies: Expert Tips & Guidance

by

There is still time to implement some great tax planning ideas for 2019. While many planning tools remain similar to last year, the IRS has issued new guidance that could affect your tax situation. Learn more about Charitable Contributions, Standard vs. Itemized Deductions, Medical Expenses, Standard Mileage Rates, Qualified Business Income Deduction, New Guidance Regarding Virtual Currencies, Estimated Tax Payments, Capital Gains/Losses, 2019 Bonus, Passive Activity, 529 College Savings Plans, Gifts.

Current Topics Affecting Your Financial Life

by

Welcome to our first issue of Fairman Group Perspectives, our enewsletter focused on sharing timely financial planning insights. In this edition we highlight how geopolitical tensions may impact oil prices and the economy, tips for protecting your identity, the IRS annual list of tax scams, the need to review withholding, and estate tax changes.

Estate Tax Changes Under Recent Tax Acts

by

The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) was a sweeping piece of legislation that significantly changed the federal gift and estate tax and the GST tax for the years 2001 through 2010. The maximum tax rates gradually decreased from 55% to 45% (35% for gift tax) and the exclusions/exemptions gradually increased from $675,000 to $3.5 million ($1 million for gift tax). The provisions of EGTRRA repealed the estate and GST taxes (but not the gift tax) for 2010; then, for 2011, EGTRRA provisions expired, effectively reinstating the tax rules that were in effect prior to 2001.

2018 Tax Filing Data Shows Need to Review Withholding

by

The IRS continues to encourage taxpayers to review the amount of tax they have withheld to avoid an unexpected tax surprise when they file their 2019 tax returns next year. Preliminary 2018 tax filing data seems to show the need for taxpayers to review their withholding in order to make sure the appropriate amount of tax is being withheld from their paychecks to reflect recent tax law changes.

+ More
FairmanLogo wRGB
Expertise
Services
Insights
About

Investment advisory services are offered through The Fairman Group, LLC. The Fairman Group, LLC is registered with the Securities and Exchange Commission under Section 203(c) of the Investment Advisers Act of 1940.
View our Client Relationship Summary and SEC Disclosures | Privacy Policy

© 2024. The Fairman Group LLC. All rights reserved