Mid-Year Tax Planning Check Up

Mid-Year Tax Planning Check Up

June 17, 2019

The Tax Cuts and Jobs Act (TCJA), which passed in December 2017, made fundamental changes to the U.S. tax code, and 2018 returns were the first time most taxpayers could see the practical impact of these changes. Were these changes less favorable for you? It may be time for a Mid-Year Tax Planning Check Up.

Confusion about the changes

In an April 2019 Gallup poll, 43% of Americans said they were unsure how the new tax law affected them personally. One reason for this apparent confusion might be because taxpayers tend to pay little attention to employer withholding. It's also possible that many respondents didn't take the time to compare their tax burdens to the previous year.

Tax planning is a year-round activity

A comprehensive financial plan could address tax saving opportunities for you in 2019 – sooner rather than later. Almost all financial decisions have a tax impact, and by coordinating your financial planning and your tax planning, you can be sure your goals align on that front. Your financial advisor should be working in conjunction with your tax professional to work towards the best possible tax treatment.

Our 14 point review process

Nobody wants to pay more than their fair share. By reviewing your 1040 document, we can run a 14 point check that includes a review of line items like: taxable interest, qualified and ordinary dividends, AGI and capital gains, to name a few.

Sign up here and we’ll gather the materials needed for your 14 Point Tax Planning Check Up and deliver the results to you promptly.

Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA / SIPC. Financial planning offered through M Financial Planning Services, a Registered Investment Advisor and a separate entity.

The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation.