tax planning

Top 5 Year-End Tax Tips for 2019

As 2018 winds down to a close we wanted to provide you with a list of the Top 5 Last-Minute tax reduction solutions.

1. Appreciated Assets: (Stocks, Real Estate, etc...) 

  • With a soft stock market, but a robust real estate market in 2018, it makes sense to lock in gains and to gift appreciated asset(s) instead of writing checks. 

  • Example of why: Stock purchased for $5,000 has now appreciated to $10,000. A gifting of the stock to a 501(c)3 avoids the capital gains taxes of $750 (assuming a 15% LTCG tax rate). Also, you still get a tax deduction for the $10,000 donated.