Starting this year, standard deduction will almost double (Table 1), although personal exemption is eliminated. It is estimated that only 1 in every 10 returns will benefit from taking the itemized deduction, versus 30% of all returns that itemized, based on 2013 IRS data.1 Moreover, the $10,000 ceiling on state-and-local-taxes (SALTs) further reduces the need […]
Simple and Smart Year-End Planning Moves
This blogpost was originally published in September of 2016. Relevant information has been updated for 2017. Thanksgiving has come and gone, and the “relatively” quiet period before Christmas is a perfect time to do some last-minute year-end planning, particularly those that have a expiration date of December 31. Income Tax Mitigation By this time of […]
8 Useful Year-End Planning Ideas
Now that summer has (un)officially ended, we are entering a relatively quiet period before the busy holiday season takes over much of our time, it is a great time to do some year-end planning, particularly those that have a expiration date of December 31. Income Tax Mitigation By this time of the year, you should […]
The Ultimate Guide to Donor Advised Funds
America is easily the most philanthropic country in the world, led by the largest charitable foundation —the Bill and Melinda Gates Foundation which has over $42 billion of assets.[1] The aggregate assets of the top 100 grant-making foundations amount to a whopping $290 billion:[2] that is the GDP of Hong Kong![3] Aside from these enormous […]
