July2019

Don’t forget to include your Fur Babies in your Estate Planning!

Determine who will care for your pets when you are no longer able. Write detailed instructions for the Pet(s) care. This information may be especially useful immediately following the death of the owner. Be sure the person you choose agrees. Determine payments to your chosen pet caregiver and distribution wishes[…]

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Tax Planning to Reduce Total Income for 2019

A taxpayer’s adjusted gross income (AGI) is one factor that determines their total income tax. Taxpayers who plan today can  lower their AGI. Here are a couple things taxpayers can do now to lower their AGI: Make Contributions to a Health Savings Account Pay student loan interest Contribute or Increase[…]

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Medical Cost Savings with a Health Savings Account

Health Savings Account (HSA) contributions do not have to be spent each year and unused balances can remain in the account for future use. It is a good idea to contribute the maximum amount allowable each year to take advantage of the tax savings. HSA contributions are tax deductible and[…]

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Consider Adjusting Retirement Plan Contributions

Maximum savings amounts increase for retirement plans in 2019. You can contribute up to $13,000 to a Simple IRA , up to $19,000 to a 401(k) and up to $6,000 to a traditional or Roth IRA. If you are over 50 or will be over 50 by the end of[…]

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