This Newsletter was so full of tax related information, especially reach back to last year NOW savings ideas, that we published and sent paper copies early in the Quarter to beat the regular tax filing deadline.
Welcome to our Video and Audio Podcast Review of our Q 2 2018 Newsletter. For those on the road or just unable to grab the time to read, our podcast type review gives you the behind the scenes insight to our thoughts, observations and deep views of the entire Newsletter.
Click here for direct link to an electronic version (an early peek-good ole fashion paper versions are on their way to you shortly) and here for our Newsletter page
In likely the last year of this deduction due to changing tax laws, this deduction is given to most in a standard amount, but can be further enhanced under the appropriate situations.
If you had a big ticket item of any type that had sales tax, you likely will be above the standard given amount. Think back of when you purchased that car or other item. If it was last year, add all of your sales tax up as there is no limit to this deduction. (Phase outs may limit)
Note: Those in state income tax states are likely not a user of this deduction.
Forgotten frequently, we reminded recently in this post of the Medical Expense Deduction. In our Newsletter we really roll up the sleeves and attempt to remind everyone of the possible Medical Expenses you may have forgotten.
Publication 502, located here at the IRS website does a fantastic job of numbering the various deductions.
Home Improvements
Transportation
Television
Telephone
These are our favorite possibly forgotten Medical Expense Related Deductions.
If you are in doubt be sure to check the link to Publication 502 as we really can’t emphasize enough just how comprehensive their list is.
VIX and the XIV
In our detailed article in the Newsletter, we gest of the silliness of too aggressive investments.
When you pick up Penny’s in front of a giant steam roller … When the giant awakens …
Oops … it looks like this!
Much of the Volatility in the Capital Markets were sturred up by this event.
It may take some time to clear this completely. Patience!
Roth Versus IRA – AKA Pre-tax or After Tax
This is a super article that speaks to those who wonder if it is better to do a Roth or another type of Pre-Tax plan such as a 401k, IRA or SEP.
The answer to this question as mentioned in great detail in the Newsletter article is actually not that complicated.
The vast majority of people are in a higher tax bracket while working and lower while retired. If you are one of those people, Pre-Tax is better.
If you find yourself in a low income year/early earning, and expect your income to be higher in the future, a Roth might be better.
On word of caution that is included in our Newsletter .. Roth’s are often overused, so be careful.
Hope you enjoyed this slightly longer than normal summary and detailed review of our Newsletter – Podcast – Video, Review !
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, please consult your financial advisor prior to investing!
Background
The is the vocal portion of J.K. Financial, Inc. a Dallas Texas Based Fee Only Total Wealth Financial Planning Firm. Founded by John Kvale, a Dallas Texas Fee only Financial Planner and Total Wealth Manager.
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Q 2 2018 Newsletter (Early Release) Video Audio Podcast Review By John Kvale
Early Release Special Q 2 2018 Newsletter
Welcome to our Video and Audio Podcast Review of our Q 2 2018 Newsletter. For those on the road or just unable to grab the time to read, our podcast type review gives you the behind the scenes insight to our thoughts, observations and deep views of the entire Newsletter.
Click here for direct link to an electronic version (an early peek-good ole fashion paper versions are on their way to you shortly) and here for our Newsletter page
Let’s get going!
Q 2 2018 Newsletter
And here is your review!
Five Reach Back NOW Tax Savings Techniques
In this hugely in depth article was originally run in abbreviated form, her on street-cents.com
HSA – The Health Savings Account
In this part of the Newsletter Article we discuss why we like the HSA so much. Here are a few…
Here is the concise post, here on street-cents.
SEP – The Simplified Employee Pension Plan
Here are the high points to this portion of the Newsletter Article …
Here is the post, again specific to just to the SEP.
IRA – Vintage original retirement program, but still a goodie
Often forgotten, the good ole IRA makes up the third of our five tax savings techniques.
Here is our post specific to the IRA.
Sales Tax Deduction
In likely the last year of this deduction due to changing tax laws, this deduction is given to most in a standard amount, but can be further enhanced under the appropriate situations.
If you had a big ticket item of any type that had sales tax, you likely will be above the standard given amount. Think back of when you purchased that car or other item. If it was last year, add all of your sales tax up as there is no limit to this deduction. (Phase outs may limit)
Note: Those in state income tax states are likely not a user of this deduction.
Here is the specific post.
Medical Expense Deduction
Forgotten frequently, we reminded recently in this post of the Medical Expense Deduction. In our Newsletter we really roll up the sleeves and attempt to remind everyone of the possible Medical Expenses you may have forgotten.
Publication 502, located here at the IRS website does a fantastic job of numbering the various deductions.
These are our favorite possibly forgotten Medical Expense Related Deductions.
If you are in doubt be sure to check the link to Publication 502 as we really can’t emphasize enough just how comprehensive their list is.
VIX and the XIV
In our detailed article in the Newsletter, we gest of the silliness of too aggressive investments.
When you pick up Penny’s in front of a giant steam roller … When the giant awakens …
Oops … it looks like this!
Much of the Volatility in the Capital Markets were sturred up by this event.
It may take some time to clear this completely. Patience!
Roth Versus IRA – AKA Pre-tax or After Tax
This is a super article that speaks to those who wonder if it is better to do a Roth or another type of Pre-Tax plan such as a 401k, IRA or SEP.
The answer to this question as mentioned in great detail in the Newsletter article is actually not that complicated.
The vast majority of people are in a higher tax bracket while working and lower while retired. If you are one of those people, Pre-Tax is better.
If you find yourself in a low income year/early earning, and expect your income to be higher in the future, a Roth might be better.
On word of caution that is included in our Newsletter .. Roth’s are often overused, so be careful.
Hope you enjoyed this slightly longer than normal summary and detailed review of our Newsletter – Podcast – Video, Review !
See Ya next Quarter!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
www.jkfinancialinc.com
www.street-cents.com
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