Month: November 2018

Helping Parents Plan for Retirement and Your Children's College Education

No More Tax-Free Lunch

Business Owners, this is not a happy part of the Tax Cuts and Jobs Act changes. We have lost the Meals and Entertainment 50% deduction. But some meals remain a deduction (aka a write off). Taking a client or prospect out to lunch is no longer a 50% deduction.  No deduction for tickets you might…
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November 3, 2018 0

Increased Contribution Limits Announced

The IRS just announced increased contribution limits for IRAs and many retirement plans. IRAs now have a $6000 limit, 401(k) $19,000 on the employee side, and SEPs $56,000 limit. This is another win for investors and savers in a year where so many tax laws have changed. The new maximum contribution is the amount you…
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November 1, 2018 0