Financial Matters

Tips and news from the financial experts at Attentive Investment Managers.
Oct
27

Year-End Tax Planning

Year-End Tax Planning
​As we near the end of another year, it's a good time to see if there are any actions to implement in order to lower your tax bill next April. Portfolio review for capital lossesA review of your non-retirement accounts in order to liquidate any holdings that would produce capital losses. If your losses exceed your capital gains, you can deduct up to $3,000 against ordinary income. Any excess losses above the amount are carried forward to future years. Establishing a 401(k) planIf you're self-employed you have a 12/31 dead-line to establish a 401(k) plan. Other types of retirement accounts (SEP-IRA's, traditional IRA's) can be set up after year end and still be timely funded in 2017 to produce a 2016 write-off.Roth ConversionsIf your income is down in the current year (hopefully it is not), a Roth Conversion can make lemonade out of lemons. Converting an IRA to Roth IRA may be something to consider. You should talk this over with your tax preparer ahead of time ...
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Due to renewed State orders for shelter-in-place we will be modifying our office operations. We will be suspending services at our physical office for the public. However, we are available to you via web meeting (zoom), email and telephone (Phone lines have been forwarded to our personal cell phones) during regular business hours. We will be able to fully service all your investment needs with no interruption.

You may drop contribution checks at our office through the mail slot or they may be mailed directly to TD Ameritrade (address listed below). Please be sure to notate your account number on the check.

TD Ameritrade
PO BOX 650567
Dallas, TX 75265-0567

Rest assured that we will continue to monitor your investments and market conditions on an ongoing basis with no interruption. Should you have any questions or concerns please feel free to contact us.

We will navigate this crisis as best we can, coming together and making shared sacrifices. We hope that we can help to slow down the effect of this virus together and solve this swiftly. We also wish everyone well and would like to extend our gratitude for your patience during these trying times. Continue to watch for updates from us.