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…
Additional Articles You May Find Interesting
Summary of the 2019 Social Security Trustees' Report Article written by Brian Bickett Earlier than in the past, the Social Security Board of Trustees released their annual report at the end of April this year. The report for 2018 spans 270 pages that go...read more
Article written by Brian Bickett Do I have enough life insurance? It’s a simple question with a simple answer. However getting from the question to the answer requires a bit of exploration. And that exploration always begins with “Can you tell me why...read more
Why Get Financial Advice from This Motorcycle Rider? Article written by Brian Bickett Earlier in my career, I worked as a fee-based financial advisor. This meant that I got paid to give advice AND got paid commissions for suggesting my clients buy certain...read more
Start your journey to financial freedom and peace of mind today.
CONNECT WITH US
Iron Mountain Financial Planning LLC (“IMFP”) is a registered investment adviser offering advisory services in the States of South Dakota and Wyoming and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by IMFP in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant to an applicable state exemption.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of IMFP, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.