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New Tax Law Creates Opportunities

This month we wanted to introduce some tax planning strategies for 2018 to take advantage of some of the new tax law changes. The main changes we are considering in these recommendations are related to the standard deduction doubling. The standard deduction has gone from $6,000 to $12,000 for single filers and from $12,000 to $24,000 for married filing jointly. This may impact clients who make charitable donations to qualified charities each year. With the standard deductions doubling, some clients may not itemize and thus will not take their charitable donations. Please consider: Over 70.5 - If you’re over 70.5 and you have IRAs or other tax deferred accounts you must take something cal

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