The new tax law is over 1,000 pages and has significant impact on your filing for 2018 and beyond. Are you ready for some light reading? Changes in 2018 tax law could impact your investments and savings plans. Here are a few of the modifications made to the tax code: retirement savings, IRAs and Roth IRA contributions and estate taxes. The new code revises limits for retirement savings and may have an effect on your planning. Savings limits for IRAs are different. The government has also modified contribution levels for Roth IRAs. The code made changes to estate taxes for the tax year as well.
These are just a few of the differences between 2018 tax law and those from previous years. All these changes may affect how you invest for the future and that means you may need to consult with your financial planner unless you’d like to do a little light reading.
Since all these changes could impact your investments and savings plans, you might need meetings with both your accountant and your financial planner. That is unless they are one and the same person. Les Merritt is the only professional who is both a CPA and CFP (Certified Financial Planner) in Zebulon. He can assist with investment and overall financial planning and prepare your taxes keeping in mind how each influences the other. These modifications to the code will continue to influence how you invest in the future. Why not work with Les who has been helping families and businesses with taxes for over three decades?
Call the Les Merritt office at (919) 269-8553 to have your taxes prepared or to begin planning for 2019 so that your investments and tax liability are aligned. Using the same CPA and CFP has never been more important and you can begin or continue working with Les Merritt to get this professional advantage. Leave the heavy lifting of understanding the new tax code to a professional. You can spend your time instead reading an entertaining novel or watching a great movie.