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Would You Like to Pay MORE Income Taxes?

| May 1, 2019 | Uncategorized |

By Philip Kavesh, Attorney

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You’re probably thinking, “Of course not!”

However, sadly, you may in fact be paying more than you have to – – especially now that the President’s “Tax Cut and Jobs Act” has caused many Californians’ federal income taxes to go up in 2018. (If you haven’t filed your 2018 return yet, I’m sorry to inform you that you may be rudely awakened when you do!)

My point is this. We may be able to help you navigate the new tax laws and significantly cut your income taxes, if any of these apply to you:

· You have interest and dividend income totaling over $50,000

· You are near to or over age 70, and have IRA accounts with a total value over $200,000 (if you are married, over $200,000 combined)

· You regularly make charitable donations of over $10,000 a year

· You have CD’s, stocks and bonds (outside of IRAs) worth over $500,000

· You have stocks, rental real estate or a business that you’re thinking of selling, which have appreciated more than $250,000

· You have over $100,000 of income on your Schedule C (self-employed business) or Schedule E (rental real estate, LLC or Subchapter S Corporation)

Please Don’t Wait!

The earlier in the year that you pursue tax planning, the more you’ll be able to save. So, even if you put your 2018 return on extension until October, don’t wait til then to come in!

Here’s Your Next Step

Call now 1-800-731-3623 and ask for Karrie to set up a free income tax planning consultation with a professional advisor of our affiliated firm of Pence Wealth Management (located right next to our office). It will definitely be worth an hour or so of your time to potentially save hundreds or thousands in taxes!

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