In the quest to reduce your tax bill, year end planning can only go so far. Tax-saving strategies take time to implement, so review your options now. Here are three strategies that can be more effective if you begin executing them midyear:

August 12, 2017 Stuart Mordfin, CPA, CGMA medical expenses, kiddie tax, deductible expenses, defer income, net investment income tax, affordable care act, tax rate, married filing jointly, investment income, capital gains rate, modified adjusted gross income, NIIT, tax saving strategies, income producing asset, consider your bracket, shift income, health insurance premiums, taxible income, head of household, married filing seperately, parents marginal rate, unearned income, dependent child, depreciated investments, generate losses, MAGI, long term care insurance premiums, medical services, dental services
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If your estate plan includes one or more trusts, review them in light of income taxes. For trusts, the income threshold is very low for triggering the:
July 8, 2017 Stuart Mordfin, CPA, CGMA income tax, trusts, income threshold, net investment income tax, capital gains rate, income tax rate, NIIT, completed gifts, investment strategy, nongrantor trust, distribute income, beneficiaries, future generations, grantor trusts, intentionally defective grantor trust
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Mortgage interest rates are still at low levels, but they likely will increase as the Fed continues to raise rates. So if you’ve been thinking about helping your child — or grandchild — buy a home, consider acting soon. There also are some favorable tax factors that will help:
May 27, 2017 Stuart Mordfin, CPA, CGMA estate tax, adult children, capital gains rate, income tax bracket, low federal interest rates, tax factors, stock, mutual fund shares, lifetime exemption, applicable federal rates, intrafamily loans, loan agreement, grandchildren, mortgage interest rates, long term appreciated assets, annual gift tax exclusion
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