Blog

Mortgage Interest Deductions Changing for 2018 and Beyond

January 18th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

As part of the Tax Cuts and Jobs Act (“Act”), the ability to deduct mortgage interest was one of the few deductions left standing.  However, the deduction did take a few hits.  Under the Act, interest on newly acquired mortgages is only deductible up […]

She’s a Butte!

January 16th, 2018|

By Pete Biebel, Vice President

The first two weeks of 2018 have produced a beauty of a rally in the stock market.  The Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) both gained more than 4% in just the nine trading sessions year-to-date.  The NASDAQ Composite Index (COMP) has tacked on more than […]

Can I Still Claim Investment Expenses as an Itemized Deduction?

January 16th, 2018|

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Changes to both standard and itemized deductions have been among the most discussed provisions of the new tax rule.   The new rule significantly modifies itemized deductions, while completely eliminating miscellaneous itemized deductions.

Under the new tax rule, individuals will no longer be able to claim miscellaneous […]

Roth Conversions Can No Longer Be Reversed in 2018

January 11th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

One of the key retirement account changes within the 2018 tax reform package was a change impacting Roth IRA conversions, and more specifically, “undoing” a Roth conversion. Prior to 2018, if you completed a Roth conversion, you had the ability to reverse that conversion […]

The New Year Brings Big Changes to Estate Tax Rules

January 10th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Happy New Year!  And what a new year it has been already.  First, the annual gift tax exclusion (the amount you can gift tax-free each year) has increased from $14,000 to $15,000 per person.  Thus, you can give up to $15,000 per person to […]

529 Savings Plans Are Not Just For College Any More

January 9th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA and Retirement Plans

In the past, tax-advantaged ways to save for K-12 education expenses at public, private or religious schools were limited. One popular option, Coverdell Education Savings Accounts (ESAs), have been around since 1998, but limit contribution amounts to $2,000 a year for children under the […]

It’s My Party and I’ll Buy If I Want To

January 8th, 2018|

By Pete Biebel, Vice President

The 2017 stock market party continued through the first week of 2018 with raucous enthusiasm.  Revelers seemed to all be belting out their favorite tune, It’s Buyin’ Time Again.  The Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) both jumped about 2 ½% for the week, and the […]

Should I Still Itemize?

January 4th, 2018|

By Kortney Christensen, CFP®, Executive Vice President, Director of Sales and Marketing

One of the most impactful aspects of the new tax law involves changes made to the standard and itemized deductions.  While taxpayers can still choose to either take the standard deduction or to itemize, the decision-making math has changed.  In 2018, the standard deduction […]

Top 10 Individual Taxpayer Impacts of the New Tax Rule

January 2nd, 2018|

By Kortney Christensen, CFP®, Executive Vice President, Director of Sales and Marketing

The passage of the Tax Cuts and Jobs Act has presented us with one of the biggest tax rules in recent memory. At over 1,000 pages, it will take everyone a while to sort through the changes, much less develop strategies to take […]

Year-End Financial To-Do: IRA Checklist

December 21st, 2017|

By Theresa Fry, Senior Vice President and Manager, IRA and Retirement Plans

The final few weeks of the year can be a busy time filled with shopping, parties, and family time.  As you sit down together and make your to-do lists, don’t forget to check on your retirement savings accounts.  Here are some IRA to-dos before […]