Personal Planning Ideas

Planned Giving

  • Start 2018 on the Right Foot

    The tax landscape has changed dramatically for 2018.  To make the most of the changes — and avoid missteps — take time early in the year to review your tax situation.  In particular:

    • Check your withholding and estimated tax payments.  Your tax adviser can help you avoid overpaying the IRS.  A large refund at tax time means you gave the IRS an interest-free loan of your money.  Especially with new, lower tax rates in effect, you may want to adjust your payments.

    • Rebalance your investments.  The markets hit several new highs in 2017.  It may be time to sell to harvest gains or to keep your portfolio in balance with your risk tolerance.  Think about making your charitable gifts with shares that have gone up in value.

    • Conduct an insurance audit.  See if you are sufficiently covered for life, health, auto, home, disability and other hazards.  If you find you have more life insurance coverage than you need, consider making a gift of the policy to charity.  You’ll be entitled to an income tax deduction that might allow you to itemize your deductions.



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