When I started my firm in 2016, our household income went to $0.
Being the financial planner I am, my mind went immediately from “we have no income” to “oooh, what kind of tax strategies can I take advantage of this year?” One of the decisions we made was around charitable contributions.
Welp, you’ve done your taxes. At least, I sure hope you have.
In this here blog post, I wish not to look backwards and cast aspersions at the IRS or the Trump Administration or your company’s HR department (although lord knows, at times they’ve all deserved it…some more than others). Instead I want to show how you might use your 2018 tax return to make your ongoing finances better.
Money, politics, and sex. Three things you’re not supposed to talk about in polite company. So, let’s talk about them. At least, the first two. I’ve got to know you a bit better before we talk about sex. I’m an old-fashioned kind of gal in that way.
- Tricks (Witting or Not) that Investment Advisors Play
- You have lots of private-company stock. Should you sell it on a private secondary market?
- Confessions of a Comprehensive Financial Planner
- Just pick an easy way to give to charity and go. Think about taxes later.
- Maybe you’re better off giving your money to causes you care about, and not focusing on tax-deductibility.