Information CenterResources for WRDR clients
For many years, 529 college savings plans have offered a tax-favored way to save for higher education. These plans, officially qualified tuition programs, are named for the IRC section that provides their advantages. What's Inside How the new tax law affects 529 plans...read more
The Tax Cuts and Jobs Act of 2017 increased the federal estate tax exemption to $11.18 million for 2018. That's per person, so the combined exemption for a married couple can be as much ad $22,360,000 worth of assets this year. What's Inside More give in the gift tax...read more
As previously reported in the April 2018 edition of the CPA Client Bulletin, the Tax Cuts and Jobs Act of 2017 affected the tax deduction for interest paid on home equity debt as of 2018. Under prior law, you could deduct interest on up to $100,000 of home equity...read more
When couples divorce, financial negotiations often involve alimony. The tax rules regarding alimony were dramatically changed by the Tax Cuts and Jobs Act (TCJA) of 2017, but existing agreements have been grandfathered. In addition, the old rules remain in effect for...read more
The Tax Cuts and Jobs Act (TCJA) of 2017, passed at year end, has been called the most extensive tax legislation in more than 30 years. It's certainly far reaching, covering individual income taxes, business income taxes, and estate taxes. The new law has many tax...read more
Most portfolio allocations call for a mix of stocks (equities) and bonds (fixed income). The underlying theory is that stocks may deliver substantial results over the long term, whereas bonds contribute interest income and lower volatility. What's Inside Weighing the...read more
So far, following counties are known to allow prepayments: Cook, DuPage, Grundy, Kane, LaSalle and Will. Cook first installment only; can be paid online – bills already available online. Also by mail (postmarked by 12/31/2017) or at any Chase Bank branch in Illinois....read more
A transition is underway within investment firms. Increasingly, the people you hire to manage your money don't refer to themselves as brokers or stockbrokers. Instead, they're now financial advisers, financial planners, or financial consultants. What's Inside Pros and...read more
As of this writing, year-end tax planning is clouded by questions about federal legislation. President Trump and many of the Republicans in Congress favor changes that would affect the tax code. Currently, the success they'll have in their efforts is difficult to...read more
An AICPA survey discovered that parents are more likely to talk with their children about manners, eating habits, school grades, and substance abuse than about finances. All these topics are important, but it's also vital to teach your kids the basics of handling...read more
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