Final of FIVE Tax Savings Ideas you can do NOW for LAST Year’s (2017) Taxes
We completed the five part series … Three were let out of the box last month …. Let’s quickly review them and then the two final parts from this month!
HSA or Health Savings Account
Our post here, speaks of the terrific opportunity to set aside Pre-Tax dollars to use now or later for medical expenses.
SEP – Simplified Employee Pension
As mentioned in our Post Here, there are very high limits of contribution, and the SEP can be done during mandated RMD’s, as well as in tangent with a 401k program, as long as the upper limits collectively of contribution are not violated.
Pre-Tax Deductible IRA
As the one of the original retirement vehicles and so vintage many forget (We Don’t!) we want to remind here in our post about the IRA – Individual Retirement Account.
Tax Savings reach back reminders from THIS month/March
Maximizing the Sales Tax Deduction
Here in our post this month, we remind everyone to be sure and maximize your Sales Tax Deduction.
From the post …
Here are a few items that may make your standard sales tax deduction drastically inaccurate and woefully low- thereby costing you tax dollars:
Bought a large Asset – Think Car or other similar item
Had more then normal personal taxed expenses – for whatever reason
Large Taxable Asset of any kind purchased
Major expense where you paid sales tax – Think Wedding, Large Party
Be sure to maximize this deduction as it looks like the new tax rules will greatly mitigate it’s use moving forward.
Medical Expense Deduction
We all some type of medical expenses each year. What is a challenge if determining what is and is not deductible.
The IRS does a terrific job with their Publication 502 of reminding and outlining what may be a deduction. In our post here, we remind of a few favorites that we find are frequently missed …
Capital Expenses for home improvements
Transportation Cost
Television
Telephone
Are possible (check to make sure) deductions we find interesting and easily forgotten.
Capital Market Comments
Finding our Footing After Getting Ahead of Ourselves
Another month and our thoughts are the exact same…so much we did not even have to change the title of this part of the review from last month… the chart is updated … looks about the same…
We think patience is needed as this will take time to digest and again find our footing.
Patience will be needed!
Here is where we are now —
For those wondering …. for now, it looks like the 200 Day Moving Average (line below our trend line) is the lower level of support … It may break, which is fine, but for now, looks like someone wants it to hold.
We will keep watch and keep you updated!
Have a Great Day! Talk to you at the end of April!
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.
$treet-¢ents 
March 2018 Podcast Video, Financial Planning and Capital Market Update – By John Kvale
Hello and Welcome to our March 2018 Financial Planning and Capital Market Update!
If you are too busy to read, feel free to listen as we describe our post and thoughts in friendly podcast format.
March 2018 Video
Financial Planning Tip (s) –
Final of FIVE Tax Savings Ideas you can do NOW for LAST Year’s (2017) Taxes
We completed the five part series … Three were let out of the box last month …. Let’s quickly review them and then the two final parts from this month!
HSA or Health Savings Account
Our post here, speaks of the terrific opportunity to set aside Pre-Tax dollars to use now or later for medical expenses.
SEP – Simplified Employee Pension
As mentioned in our Post Here, there are very high limits of contribution, and the SEP can be done during mandated RMD’s, as well as in tangent with a 401k program, as long as the upper limits collectively of contribution are not violated.
Pre-Tax Deductible IRA
As the one of the original retirement vehicles and so vintage many forget (We Don’t!) we want to remind here in our post about the IRA – Individual Retirement Account.
Tax Savings reach back reminders from THIS month/March
Maximizing the Sales Tax Deduction
Here in our post this month, we remind everyone to be sure and maximize your Sales Tax Deduction.
From the post …
Here are a few items that may make your standard sales tax deduction drastically inaccurate and woefully low- thereby costing you tax dollars:
Be sure to maximize this deduction as it looks like the new tax rules will greatly mitigate it’s use moving forward.
Medical Expense Deduction
We all some type of medical expenses each year. What is a challenge if determining what is and is not deductible.
The IRS does a terrific job with their Publication 502 of reminding and outlining what may be a deduction. In our post here, we remind of a few favorites that we find are frequently missed …
Are possible (check to make sure) deductions we find interesting and easily forgotten.
Capital Market Comments
Finding our Footing After Getting Ahead of Ourselves
Another month and our thoughts are the exact same…so much we did not even have to change the title of this part of the review from last month… the chart is updated … looks about the same…
We think patience is needed as this will take time to digest and again find our footing.
Here is where we are now —
For those wondering …. for now, it looks like the 200 Day Moving Average (line below our trend line) is the lower level of support … It may break, which is fine, but for now, looks like someone wants it to hold.
We will keep watch and keep you updated!
Have a Great Day! Talk to you at the end of April!
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
Share this:
Like this:
Related