Recent News

Tax Deductions Gone in 2018

Now that the new H.R.1 (popularly called the Tax Cuts & Jobs Act) is the law, all kinds of itemized federal tax deductions have vanished. The final bill left many more standing, but plenty of others fell. Here is a partial list of the itemized deductions unavailable this year.

Avoiding the Cybercrooks

How can you plan to avoid cyberattacks and other attempts to take your money over the Internet? Be wary, and if attacked, respond quickly. Most online money threats can be avoided with good security software, the latest operating system, and some healthy skepticism. Here is where a little suspicion may save you a lot of financial pain. If you do end up suffering that pain, the right insurance coverage may help to lessen it.

What Do You Have in Reserve for 2018?

How much does the average American household have in the bank? Estimates vary, but the short answer to this question is “not enough.” Living without an emergency fund can invite worry. Save a little each month to build up your emergency fund.

The Medical Expense Deduction in 2018

The Tax Cuts and Jobs Act has lowered the threshold for medical expense deductions. If you are considering surgery or dental work, it may be better to schedule these procedures for 2018 instead of 2019. Read more on how the changes will impact medical expenses for 2018 and 2019.

The Backdoor Roth IRA

A backdoor Roth IRA might be a real plus for your retirement. If it frustrates you that you cannot contribute to a Roth IRA because of your income, explore this possibility with insight from your financial or tax professional.

How New Tax Laws Affect Small Businesses

The Tax Cuts & Jobs Act changed the tax picture for business owners. Whether your company is incorporated or held closely, you must recognize how the recent adjustments to the Internal Revenue Code can potentially affect you and your workers.

Watch for These Insurance Blind Spots

A good auto, homeowner, or renter policy will insure you against what the carrier believes to be common threats. There are other risks, however, that you might need to address.

Tax Changes Around the Home

Three recent tax law changes impact homeowners and home-based businesses. They may affect your federal income taxes this year.

Why the U.S. Might Be Less Affected by a Trade War

A trade war does seem to be getting underway. Investors around the world see headwinds arising from newly enacted and planned tariffs, headwinds that could potentially exert a drag on global growth (and stock markets). How badly could these trade disputes hurt the American economy?

Debunking a Few Popular Retirement Myths

Generalizations about money and retirement linger. Some have been around for decades, and some new clichés have recently joined their ranks. Let’s examine a few.

Searching for Health Coverage in the Years Before Medicare

If you retire before age 65, you must be prepared to address two insurance issues. Review these options before you retire. See how the costs fit into your budget. Have a conversation about this topic with an insurance or financial professional, because you may end up leaving work years prior to age 65.

Is Generation X Preparing Adequately for Retirement?

Traditional pensions are largely gone, and Social Security could change in the decades to come. At midlife, Gen Xers must dedicate themselves to sufficiently funding their retirements and squarely facing the financial challenges ahead. Is this generation prepared for the financial realities of life after work
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For more information please contact
Rich Ramsay at Rich@RamsayWealth.com

Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Ramsay Wealth Management and JWC/JWCA are unaffiliated entities.

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