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Tax Planning for 2018

by Sean Guldi, CFP®

It is all over the news – Congress and the Trump administration are busy attempting to enact a large-scale overhaul of the tax code. Uncertainty abounds with respect to the details, and there is still a chance the overhaul does not make its way through both the House and the Senate and on to President Trump’s desk. We receive phone calls, e-mails and questions in meetings with our clients, family and friends who look to B&C Financial Advisors for answers to the variety of questions that this new tax plan poses for each particular person. Unfortunately, as with many questions in life, neither we nor anyone else can say for certain what to make of the changes and ultimately how they will impact our financial lives going forward. The best thing to do is to make sure B&C is aware of your tax situation so we can help you best manage your investments and meet your goals no matter the situation.

Remember that even though the year-end has passed you are still able to make deductible contributions to IRAs and ROTHs through the tax filing deadline. Please reach out to our office to let us know if you plan on making prior-year contributions to your accounts. For those of you who are self-employed – you can make SEP-IRA contributions through to the business tax filing extension deadline. Please reach out to our office if you haven’t set up a SEP IRA and we can work with you and your CPA to coordinate and fund it properly.

Pershing will be sending out phased mailing of tax documents to you. Please refer to the information on the previous page for specific details. Remember that if you have any questions or concerns regarding the 1099’s to call our office or e-mail us at [email protected].

Finally, as you finish filing your taxes for 2017 make a point of reaching out to us at 904-273-9850 or e-mailing us at [email protected] to set up a review of your 2018 plan and, if applicable, to give us your tax-loss carry forward information from 2017.