CMP Financial Planning

Tax Planning

Helpful Year End Tax Strategies

- Dec 30, 2019

By Barry Jamieson, CFP®, MAThere is still time to save on your taxes for 2019! For most tax-saving type accounts (not including 401Ks and 403B) you have until April 15 of 2020 to contribute. For those who have extra savings that you would like to invest, consider maxing out your contributions to your HSA, 401K, IRA or…

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Year-End Tax Planning

- Jan 01, 2019

 By Barry Jamieson, MA, CFP® With increases in the standard deduction ($24K for couples, $12K for singles) resulting from last year’s tax changes, it has become harder to take advantage of the tax breaks provided through itemized deductions. For those of you who are taking required minimum distributions, or RMDs, having the part of your distribution…

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How the Tax Overhaul Bill Affects People with Disabilities

- Jan 17, 2018

By Barry Jamieson.   The tax overhaul bill passed at the end of 2017 ushered in major changes for all taxpayers including people with disabilities.  Here are a few of the major changes that could impact individuals with disabilities depending on their tax situation. Standard Deduction Increase to $12K. Starting in 2018 the new threshold…

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Five Things To Do With A Tax Refund

- Mar 20, 2014

Five Things To Do With A Tax Refund by Alissa Henry It’s the most wonderful time of the year – tax refund season. A new poll found that 80% of Americans expect to receive a check from Uncle Sam this year. In fact, the IRS says that for every dollar it collects, it returns…

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Surefire Ways to Increase Investment Returns!

- Sep 10, 2013

Surefire Ways to Increase Investment Returns! While academic research has shown it is difficult or impossible to beat market returns, often we can effectively improve our returns simply by reducing the taxes on our investment income and gains! The first step is to understand how tax treatment differs for each account type, especially when taking…

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