Do You Know the Codes?

How the Tax Changes Might Impact You

One of our largest partners, Charles Schwab, recently posted a very extensive review of the tax code changes now in effect. You can read the full article here, and we recommend maybe even printing it out as a primer for your next conversation with your CPA.

The DLK team is hard at work making sure our clients are well-positioned to benefit from the changes in the new tax laws passed last year.

Here are the highlights:

Some Mortgage Interest Deductions have been restored.
Estate Tax Exemptions have been expanded or reinstated under recent legislation, and increases will be tied to inflation.
The Alternative Minimum Tax (AMT) is expected to impact fewer citizens.
529 Plans have expanded distribution amounts and increased qualifying expenses.
Younger taxpayers have expanded savings mechanisms and less taxes on tips and overtime.

If you have any questions about how this might impact you or a family member, please reach out to us. We also introduce people to CPAs and estate planning attorneys every month, as it seems more and more of these service providers are retiring.

Client Centered, Quality Focused. We are an independent, employee owned investment advisory firm with institutional quality practices that are applied to all aspects of our business. Our disciplined and balanced approach allows us to focus on the most important aspect of our job: creating long-term value for our clients. DLK is a diverse team of professionals who have experience in multiple areas of investment management, on both the advisor and client side.