Check the background of your financial professional on FINRA's Broker Check. Registered Representatives in the Simplifynance program offer securities through Cetera Advisors LLC (CA) a registered broker-dealer, member FINRA, SIPC. Advisory services are offered through Cetera Advisors LLC, an SEC Registered Investment Adviser. CA is under separate ownership from other named entities.
Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation(commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
This site is published for residents of the United States only. Registered Representatives of Cetera Advisors LLC may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every representative listed. For additional information please contact the contact the representative(s) listed on the site, visit the Cetera Advisors LLC site at www.ceteraadvisors.com.
#5 - Fun, Exciting Tax Season
Summary:
In this episode of Simplifynance, host Rachel Stewart and Nathan Ollish discuss this year’s tax season and what we can do to prepare.
Show Notes:
● 1:00– Proper documentation needed before you get started
● 1:20- The role taxes play in financial planning
● 1:43– 2018 Tax Reform: Taxs Cuts & Jobs Act
● 2:00- Key tax changes that are going to apply, with our generation in mind
● 2:13– Lowered taxed brackets, increased standard deduction and limits to a 401k
● 3:30– Health Insurance – individual mandate eliminated in 2019
● 4:00- Why Nathan and Rachel choose to do their own taxes
● 4:30- The benefits of having a CPA prepare your tax return for you
● 6:20– Some tax forms generally don’t get mailed out until February
● 7:00- Make sure you have all documentation before filing
3 Key Points:
1. Though we can do our taxes ourselves, relying on a CPA is ideal as life gets more complex.
2. Taxes play a big role in financial planning, but a financial planner is not to be confused with a tax professional, such as a CPA
3. There have been major tax changes that we need to take into consideration this year.
Resources Mentioned:
www.simplyfinance.com
Contact Information:
● Rachel Stewart
● Nathan Ollish,CFP