Are Charitable Deductions Going To Be Wiped Out Under Trump?

For many American families who prepare for year end tax planning, no discussion is complete without talking about charitable contributions.   Many families make charitable contributions by tithing a percentage of their family income, giving cash to local charities, or they end up taking non-cash items from their household and donating them to a worthy charity.  With the potential shake up in the tax law under a Trump regime, will you have your charitable contributions completely wiped out in 2017? First things first.   You don’t really need to worry about charitable contributions if you don’t itemize your deductions at all.  Today, a single filer has a $6,300 standard deduction and a married couple has $12,600 for a standard deduction. In addition, you get to deduct you, your spouse, and your children as personal exemptions on your tax return.  The suggested policy going forward would be to wipe out the personal exemptions and offer a larger standard deduction of $15,000 for a ...

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Five Holiday Gifts To Help Your Friends And Family Build Wealth

There is no doubt that this entire month is going to be spent hanging out at holiday parties, shopping at the department stores, and thinking about how fast each goes by as you get older.   While we will see all sorts of gadgets, clothes, and toys that you can buy this holiday season, perhaps it might be a good idea to consider a gift that could help one of your friends or family members build some wealth.  Here are my five your smart money moves that can help the ones you love increase their bottom line. uniquestockgift.com – What better way to help someone build wealth than actually purchasing them ONE share of stock? With Unique Gift Stock, you literally have hundreds of companies to choose from to buy one share of stock in a company and then give it away as a gift.   You can present the stock in a beautiful frame with a personalized plaque note.   From that ...

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Helping You Not Have A Holiday Financial Hangover

How to Get Rich w/ oXYGen Financial – Ted Jenkin | Atlanta Money Guy Topic: Ted Jenkin stops by the studio to help you not suffer a major financial holiday hangover! Taped 11/29/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. All your money questions answered Sign Up For His Fun & Casual Financial Newsletter: http://eepurl.com/eBqro Breathe Easier with oXYGen Financial: http://www.oxygenfinancial.net ...

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One BIG 2017 Georgia 529 Plan Change For College

As the cost continues to rise for college education, the state of Georgia is stepping up for the residents of Georgia and offering a new increased tax deduction that can really help Georgia taxpayers. All Georgia single taxpayers may deduct up to $2,000 each year on behalf of any beneficiary regardless of their annual income. Beginning with returns filed in 2017, all Georgia joint taxpayers may now deduct up to $4,000 each year on behalf of any beneficiary regardless of their annual income. Please note that a transfer of funds from another state’s 529 plan is not eligible for the Georgia income tax deduction. Georgia tax forms refer to the Path2College 529 Plan as the “Georgia Higher Education Savings Plan” (GHESP); the Path2College 529 Plan is established by the GHESP. Contributions made during the tax year, or before the following year’s federal tax filing deadline are eligible for the deduction. State tax benefits offered in connection with the Path2College 529 ...

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Helping You Shop on Black Friday

How to Get Rich w/ oXYGen Financial – Ted Jenkin | Atlanta Money Guy Topic: The best Black Friday shopping tips from Oxygen Financial! Taped 11/22/16 Listen every Tuesday morning at 8:00 a.m. on ROCK 100.5 | Atlanta’s Rock Station to “Your Smart Money Moves” with The Rock 100.5 Morning Show and oXYGen Financial. Ted Jenkin, CFP® and Kile Lewis, CRPC® are the founders of oXYGen Financial, and our chief financial officers. Sign Up For His Fun & Casual Financial Newsletter: http://eepurl.com/eBqro Breathe Easier with oXYGen Financial: http://www.oxygenfinancial.net ...

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Top Gifts For Your Pet

In a majority of households, those shiny presents under the Christmas tree or Hanukkah bush, are meant for the family pets. The holiday season is one we traditionally dedicate to giving, and it turns out the most Americans extend that spirit to our furry four legged family members. Christmas is, unsurprisingly, the most popular pet-giving holiday, ahead of their birthdays and Valentine’s Day according to Rover.com. I was in attendance at the American Pet Products Association (APPA), when CEO Bob Vetere announced that the overall spending in the pet industry for 2015 came in at a record $60.28 billion. “The pet humanization trend is alive and well and continues to drive growth at the premium end of the market,” said Vetere. “As millennials prepare to take the reins from the baby boomer generation as the primary demographic of pet owners, they stand to further develop this trend.” Spending on supplies such as beds, collars, leashes, toys, litter, bedding, food and water ...

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Six Smart Ways To Save Money On Thanksgiving Dinner

Forty-six million turkeys will be ready to go during Thanksgiving this year. The American Farm Bureau Federation says the cost of a Thanksgiving dinner for 10 people will average $49.04, a 44-cent decrease from last year’s average of $49.48. Supermarkets are charging $21.76 for a 16-pound turkey, which works out to $1.36 per pound (and three cents less than the per pound cost in 2012).   However, we are interested in saving money, so here are six ways to cut down on cost for Thanksgiving dinner if you are working on a budget. Go Generic – There may be a few brands that you cannot live without for Thanksgiving, consider items such as salt, spices, frozen vegetables, and other items that can save you money without giving up the taste.   Generic brands at many stores have come up in quality over the past five years and in some cases have the same exact ingredients as the big brands. Go pot luck with your ...

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VIDEO: Is Your Spouse Cheating On You?

As I get to meet literally thousands of people every year to talk about personal finances and their struggles and successes toward building their net worth, I’ve noticed an interesting trend phenomenon that seems to have an uncontrollable growth. That is the behemoth that we all know and have come to love as Amazon…. Read Full Article at: http://bit.ly/2gefCjY ...

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