Thomas W. Barber CPA
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We've gone to the dogs! Under current tax laws, your charitable deductions may not even be deductible (if you take the standard deduction), but that's not always the point, is it? Giving to your broker's Donor Advised Fund can accelerate current deductions if that's your goal. Seniors may be able to deduct taxable IRA distributions and RMDs by having their custodian divert some or all of them directly to any 501(c)(3) organization, even when taking the standard deduction (they're called Qualified Charitable Distributions)!
Estate planning isn't just for the uber rich. What if you become incapacitated? What happens when you die? Living wills with durable medical powers of attorney (and family trusts for those in litigious professions, sneaky ex-spouses, or blended families) can give you more orderly control over yourself and your assets in life and beyond. Always evaluate estate planners according to your personal needs and how they address your particular concerns (when all they sell is a hammer (the trust), every problem can look like a nail). If you're treated like a boilerplate, move on. Ask questions. Expect Answers.
Find investment advisors, social security or medicare planning strategies, personal IRAs and employer pensions. From hands-on service to occassional guidance, investment advisors and retirement planners aren't created equally. If you plan to use one, find an advisor you feel comfortable with, charges you a fair price any service they provide, and is there to respond to questions and explain why their fees are fair! Fiduciary advisors should have your interests at heart, not theirs. These days, you can do a lot by yourself, but advisors can offer resources and experience you may not have.
Find resources for landlords, small real estate investors looking to defer gains on a potential rental property sale with a 1031 Exchange, Accredited Investors looking to invest in larger scale Delaware Statutory Trust (DST) real estate, business owners looking for structural advice, professional liability insurance, household employee and general payroll services, self-paced technical training and updates on the latest tech.
Non Resident Aliens, U.S. citizens living abroad, foreign students in the U.S., people with foreign assets, accounts, or business interests all have unique personal tax issues which are subject to some of the most arcane tax rules in the business. Although we do routine foreign filing (FBAR, FACTA) and general FTC reporting, we won't fault you for choosing a foreign specialist in this area. We're happy to consult in tandem, especially when you're getting started. The goal is to get it right.
Client tax organizers can be cumbersome and under utilized. We've made our organizer simple and streamlined to help you gather the documents that may apply to your situation in any tax year. They're digital, interactive, and quick and can be completed and submitted right in the client portal. Oldschool PDF organizers are available in the folders section of the documents tab if you prefer.