Family Matters: Retirement & Tax Planning as Tax Filing Date Approaches

23 January 2019

Although the calendar has turned to the new year, some retirement-account tax-planning strategies remain available in advance of filing tax returns for 2018 income. Also, since 2018 is the first full year affected by the recent tax reform, there are important new factors to plan for. These include new rules for state and local tax deductions (SALT) and related discrepancies in how some states and the federal government handle property-tax deductions. For some owners of pass-through businesses, there’s also the vital topic of the qualified business income (QBI) deduction.

This installment of Family Matters touches on topics relevant to retirement and tax-planning strategies subsequent to year-end but prior to filing. We are pleased to offer insights from New York-based Gary Weissman, CPA, of Wolf Weissman CPA's, P.C. and Calamos Wealth Management Sr. Wealth Advisor Geoffrey Sargeant.

We created the Family Matters insight series to spark ideas and spur conversation among family members on a wide range of important financial topics. They’re purposely written as a primer for more in-depth discussions with your Calamos Wealth Management advisor on how the matters presented will apply to you and your family’s unique situation. We hope you find that the multi-generational lens by which topics are revealed promote pass-along readership to multiple family members. Your Calamos Wealth Management advisor is available to all members of your family to provide guidance on matters you care about most.

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