Welcome to our monthly Economic, Capital Market, and Financial Planning tip of the month.
This months Special Tax Financial Planning Tip of the month is not one, but two tips that may save you tax dollars before year-end !
For those new to our writings, we touch on the most pertinent Financial “stuff” along with a video of my mug that has even more specialized details of the latest month as well as this post.
These are just a few simple examples of possible deferred income you may wish to push out.
In our income pushing post, here we discussed in great detail a simple technique that is often forgotten but may at least defer your income taxes. If you can hold off on realizing this income of the next 30 to 40 days you will at least possibly get 15 to 16 months to pay these taxes — we will be glad to help if you have any questions!
Donation maximization and optimization
Accelerate or push out your donations
Watch the phase out-certainly push out if you are in a phaseout situation your deductions
Cash is a great donator, concentrated stock may be better
Other options include donor advised funds, letting up your own foundation-these are more complex
In our donation optimization post will we discussed the various options for maximizing your donations, always staying well within the boundaries of the tax laws, but focusing on maximization is our goal!
Give us a call if you have any confusion/questions! Do not try any of these techniques without first visiting with you professional advisor!
Rates to be raised
October’s unemployment report gave Janet Yellen, head of the Federal Open Market Committee-FOMC, a green light to raise rates. While we do have another economic report, November’s at week end – it appears the economy is moving in the direction the Fed wants it to, and the FOMC will be able to raise rates.
What’s neat about this possible movement, which is different from September, is the markets-and market participants, seem to be prepared and are happily welcoming an interest rate increase!
I am completing this video and post over the Thanksgiving weekend holidays. It’s interesting to think that we are worried about raising rates .25%, when during this weekend, several conversations were about receiving a one year CD at 17% annualized rate – wow what a long way we have come. We welcome the rate increase, look forward to it, and think that it may actually have a more positive effect than many think-time will tell!
The end of the year is only two and one half weeks away. With the second year of massive phase outs of deductions, optimizing taxes is very important. There are still tax savings ideas that can really help your pocket-book when the tally is settled in 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.
November 2015 Year End Tax and Financial Planning Tips, Capital Market Monthly Review (Video by John Kvale)
Welcome to our monthly Economic, Capital Market, and Financial Planning tip of the month.
For those new to our writings, we touch on the most pertinent Financial “stuff” along with a video of my mug that has even more specialized details of the latest month as well as this post.
Ok…let’s go!
VIDEO
YouTube Direct Link
Push that income out
These are just a few simple examples of possible deferred income you may wish to push out.
In our income pushing post, here we discussed in great detail a simple technique that is often forgotten but may at least defer your income taxes. If you can hold off on realizing this income of the next 30 to 40 days you will at least possibly get 15 to 16 months to pay these taxes — we will be glad to help if you have any questions!
Donation maximization and optimization
In our donation optimization post will we discussed the various options for maximizing your donations, always staying well within the boundaries of the tax laws, but focusing on maximization is our goal!
Rates to be raised
October’s unemployment report gave Janet Yellen, head of the Federal Open Market Committee-FOMC, a green light to raise rates. While we do have another economic report, November’s at week end – it appears the economy is moving in the direction the Fed wants it to, and the FOMC will be able to raise rates.
What’s neat about this possible movement, which is different from September, is the markets-and market participants, seem to be prepared and are happily welcoming an interest rate increase!
I am completing this video and post over the Thanksgiving weekend holidays. It’s interesting to think that we are worried about raising rates .25%, when during this weekend, several conversations were about receiving a one year CD at 17% annualized rate – wow what a long way we have come. We welcome the rate increase, look forward to it, and think that it may actually have a more positive effect than many think-time will tell!
John A. Kvale CFA, CFP
http://www.jkfinancialinc.com
http://www.street-cents.com
8222 Douglas Ave # 590
Dallas, TX 75225
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Posted in Economy, General Financial Planning, Investing/Financial Planning, Market Comments, Tax Related, Video
Tagged Accelerate, Charitable Donation, Donation Optimization, Donations, Push out of income