February 13th, 2019 Newsletter

Start Trimming Your 2019 Tax Tab Now
As you complete your 2018 tax return, turn some attention to your tax plans for 2019. Although tax reform triggered a slew of major changes in 2018, the landscape has settled this year. In terms of tax rules, “2019 will …
Kiplingers

Are Home Improvements Tax-Deductible?
With Tax Day just around the corner, it’s time to start gathering those tax documents together and figuring out if certain expenses …
Handyman Connection

Another recession will happen eventually, start preparing now
Recessions are like natural disasters: They’re inevitable, but smart preparation may reduce the impact on you. The U.S. economy has grown …
USA Today

When it Comes to Retirement, Small Businesses Are Failing Their Employees
Social Security alone won’t cut it Opens a New Window. in retirement. And thankfully, a growing number of working Americans are finally …
Fox Business

How To Set Up a Trust Fund If You’re Not Rich
If you’ve heard of trust funds but don’t know what they are or how they work, you’re not alone. Many people know just one key fact about …
Investopedia

At a loss about lost deductions? IRS website has some guides
The new tax law has eliminated or limited some popular business deductions including those for entertainment expenses and interest on loans …
ABC News

4 of the 5 most affordable retirement spots are in this state
When 55places.com, an online resource for active adult communities in the U.S., identified the most affordable places to retire in 2019 …
CNBC

Helpful Considerations For Giving Gifts And Funding Expenses
If you’re fortunate to have enough wealth to transfer to your family members upon your death, you might want to start thinking about …
Forbes

Savings Accounts 101
Savings accounts are just about the simplest of all income-producing investment accounts. They are even less complicated than their first …
Investor Junkie

37 States That Don’t Tax Social Security Benefits
Some retirees are surprised to learn that Social Security is taxable. The federal government taxes up to 85% of your benefits, depending on …
Kiplinger

Do beneficiaries pay taxes on life insurance?
Generally speaking, when the beneficiary of a life insurance policy receives the death benefit, this money is not counted as taxable …
Investopedia

“If you claim depreciation on the hat, I can save you a fortune on your taxes. Call me.”
Copyright © Randy Glasbergen

Trivia
Who was on the front of the once circulated US $10,000 bill?
See the answer below.

Ouch! Some business owners may be shocked by lost tax breaks
As small business owners compile their income tax returns, they’ll confront some of their losses from the new tax law: popular deductions …
ABC News

What Year Was It?

Galileo Face Charges of Heresy

Italian philosopher, astronomer and mathematician Galileo Galilei arrives in Rome to face charges of heresy for advocating Copernican theory, which holds that the Earth revolves around the Sun
The day was Feb 13. What year was it?

Quote of the Week
“Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time.”
Johann Wolfgang von Goethe

Trivia Answer
Who was on the front of the once circulated US $10,000 bill?
Answer: Salmon P Chase, the 25th US Secretary of the Treasury.

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Tom Umstattd, CPA
13276 Research Blvd, Ste 101
Austin, TX 78750

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Tom Umstattd, CPA

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