from the Desk of Brian Bickett, CFP®
‘Tis no longer the season for taxes…
While for those of us who have not filed extensions, tax season is officially behind us for another year. I encourage you to block out some time while this experience and the numbers are fresh in your mind to do some tax planning for 2019.
Review your 1040 and the new Schedules for opportunities to take better advantage of the current tax code. Did you get a large refund or have to pay in significantly? Does a Traditional or ROTH IRA make most sense for your situation? Would “bunching” charitable contributions help to itemize deductions? If you cannot itemize due to the larger standard deduction, have you considered Qualified Charitable Distributions? I can go on, but you get the idea.
I cannot with a clear conscious advocate for breaking the law but can however advocate for taking full advantage of the current laws as they are written.
Enjoy the ride of YOUR life!
Find Your Financial Roadmap.
Brian can help you develop a roadmap to get you from where you are to where you want to go — and then put it in action, making your money work for you to avoid behavioral mistakes.
In an essay for an upcoming book, the Oracle of Omaha elaborates on a message that he claims is very important to get across to younger people: Take care of your mind and body. And he does it in is usual folksy style of analogy which is effective at getting the point across. I would humbly add that this message is of value for everyone, regardless of age.
Happily not shoveling snow…
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