Tag Archives: Tax Clumping

Possible End of Year Property Tax Strategy, Only IF You Meet Certain Criteria … Friday

In trying to get educated on the possible tax changes that MAY occur, we stumbled across one idea that we felt worth sharing.

Please do not take this as a forecast for what tax changes MAY occur, no one knows, but in this tax seminar the speaker brought up an interesting strategy, that if in the correct circumstance, may be worth a try.

If you do not intend to itemize i.e. Use the standard deduction in 2020, it may be worth paying your property tax for 2020 in 2021 on the possible chance a different tax rule MAY occur in 2021.

Again, no one knows for sure on tax changes, only a very low downside technique since not itemizing in 2020 essentially nullifies the use of your property tax in this tax year. Here is a reference to the strategy, before recent tax laws phased this technique out!

Sorry for the heavy on a Friday… we just caught wind of this and wanted to spread the word as fast as possible!

Have a Good Friday and super weekend!

Have a Great “Possible Tax Savings” Technique Day!

John A. Kvale CFA, CFP

Founder of J.K. Financial, Inc.

A Dallas Texas based fee only

Financial Planning Total Wealth

Management firm.

jkfinancialinc

street-cents

December 2018 Podcast Video, Financial Planning and Capital Market Update – By John Kvale

Hello and Welcome to our December 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 as well as Video!

Newbies – We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets and current events!

December – 2018 Video

Financial Planning Tip (s) –

Staying Invisible on the Internet

With concerns of our personal information being constantly delivered/sold to others, we found this really neat chart, here in our post as a great guide on staying invisible on the internet.

The chart is HUGE, noting the many ways we are being tracked this day and age… lots of neat, stop tracking me techniques included…

Capital Market Comments –

Good News – Such Fast Movements May Not  Last as Long

One time when being fast may be to our benefit …

Markets that throw a quick hissy fit frequently get their feet under themselves …

1-6-19 spx -

Using the Great Recession of 07-09 as a guide (below)  – BTW we DO NOT think this is what we are experiencing… it took years for the drop to occur, not days…

1-6-19 spx 07-10

We may be experiencing a slow motion 87, 91 or 99 like drop, which were faster, briefer, caused by outside worry and forces, but certainly concerning at the time!

Let’ all buckle up and be thankful we NEVER drive fast – time will tell!

 

Have a Great Day – Talk to you at the end of January!

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
street-cents

November 2018 Podcast Video, Financial Planning and Capital Market Update – By John Kvale

Hello and Welcome to our November 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 as well as Video!

Newbies – We like to articulate our thoughts and review on a Monthly basis our Financial Planning Tips, Capital Markets and current events!

November – 2018 Video

Financial Planning Tip (s) –

Clump – Maximizing the new standard deduction

With a $12k individual standard deduction and double that for joint filers it takes work to maximize the standard deduction threshold… Add the fact that SALT State and Local Tax deductions are now limited to $10k annually, clumping expenses into one year as mentioned here in our post and visually below may be the only way to get above the standard deductions for many …

Clumping Taxes

Capital Market Comments –

Powell Signals a Slower Rate Increase

Current FOMC (Federal Open Market Committee) chairman Jerome Powell signaled the rate increases may be closer to over than just was stated just a month earlier… where a December increase, which is still almost certain, but three additional increases were promised in 2019 – not any more.

Given the long/lower rates of the last decade, it is not a surprise that the new normal may be lower –

Market Participants cheered this statement!

10-31-18 Fed Funds Rate

Have a Great Day – Talk to you at the end of December!

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
street-cents