Full service accounting services and tax preparation for Westminster, Columbia, Pikesville, Baltimore, MD

Tax Tips

Our Special Report for Year-End 2016

Financial 1 Tax Services - Tax Year 2015One of our major goals is to help our clients identify opportunities that coordinate tax reduction with their investment portfolios. In order to achieve this goal, we stay current on ever-changing tax reduction strategies. On November 8, voters elected Donald Trump to serve as the 45th President of the United States. Comprehensive tax reform was one of his priorities, however, his ideas and proposal will not affect 2016 tax returns. This special report covers the details of numerous year-end tax strategies for 2016. As always, call us at 410-908-9293 for advice and help with your unique situation.  We look forward to working with you this year!

Tax Brackets For 2016

Michael Bunich - Real Estate SpecialistTax brackets changed slightly for 2016. For example, for the 2015 tax year, the top of the 15% federal income tax bracket for married couples filing jointly was $74,900. In 2016, that figure increased to $75,300. Below is a table of federal income tax rates for 2016. Read More

Read the entire year-end report!

Reduce Your Income Taxes and Plan for 2017

While campaigning for the position of President, Donald Trump shared some views of his tax position. President-elect Trump stated that comprehensive tax reform to significantly lower individual and business tax rates was one of his top priorities. According to CCH’s Tax Briefing, his proposals included a simpler tax system with 3 tax brackets: 12, 25 and 33%. He also shared that he would recommend no change in capital gains rates and a repeal of the 3.8% Medicare Tax. Another item discussed was capping deductions at $100,000 for single filers and $200,000 for joint returns. Read More

Reduce your taxes and plan for 2017!

Tatyana Bunich - CEOFinancial 1 Wealth Management Group
Financial 1 Tax Services

8850 Columbia 100 Parkway Suite 403,
Columbia, MD 21045
(410) 908-9293

3701 Old Court Road, Suite 24
Baltimore, MD 21208-3901
(410) 908-9293

Tatyana Bunich, CEP, provides financial and tax services through Financial 1 Wealth Management Group and Financial 1 Tax Services.

We urge you to begin your final year end planning now for your unique situation.

Don’t hesitate to reach out if we can answer any of your questions. Visit the link below for more information on 2016.

* Read the entire year-end report
* Need to know what to bring to your appointment?
* Reduce your taxes and plan for 2017

Client Year-end Tax Review Checklist
Have you…?

  1. Maximized Retirement Plan Contributions
  2. Identified Opportunities for Capital Gain Harvesting
  3. Identified Opportunities for Capital Loss Harvesting
  4. Explored All Roth Conversion & Recharacterization Opportunities
  5. Reviewed RMD Timing
  6. Considered Charitable Gifts / IRA Charitable Gifts
  7. Reviewed Charitable Remainder Trust Opportunities
  8. Maximized Annual Exclusion Gifts
  9. Reviewed Use of 529 Plans & Coverdell Saving Accounts
  10. Discussed Tax Bracket Management
  11. Discussed Potential Deduction Timing

Here’s what to bring to your next appointment

Call 410-908-9293 to go over these together!

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