Category: TAXES

The Medical Expense Deduction in 2018

Tax reform has lowered the threshold.


Provided by Gerald Quigley


If you itemize, you should note the reduced medical deduction threshold for 2018. This year, you can deduct qualified medical expenses exceeding 7.5% of your adjusted gross income. Next year, the threshold for the medical expense deduction returns … Read More

Less SALT for Taxpayers to Subtract
What does the new federal cap on state and local tax deductions mean for you?

Provided by Gerald Quigley


Have you routinely itemized your federal tax deductions? In 2018, you may decide to take the standard deduction instead. One possible reason: the new limit … Read More

Financially speaking, what moves might you want to make?
Provided by Gerald Quigley

By choice or by chance, some people wrap up their careers before turning 60. If you sense this will prove true for you, what could you do to potentially make your retirement transition easier? As a … Read More

A convenient move that could ward off probate on your accounts.
Provided by Gerald Quigley

TOD, JTWROS…what do these obscure acronyms signify? They are shorthand for transfer on death and joint tenancy with right of survivorship – two designations that permit automatic transfer of bank or investment accounts from a deceased … Read More

3 Important Retiree Tax Considerations


After you retire, your tax situation will change. Recognizing that oncoming change is crucial. Some ideas that may seem smart from a pre-retiree standpoint … Read More

Which Financial Documents Should You Keep On File?
… and for how long?
Provided by Gerald Quigley

You might be surprised how many people have financial documents scattered all over the house – on the kitchen table, underneath old newspapers, in the hall closet, in … Read More

What should you keep in mind as you donate?
Provided by Gerald Quigley

Are you making charitable donations this holiday season? If so, you should know about some of the financial “fine print” involved, as the right moves could potentially bring more of a benefit to the charity and … Read More

End-of-the-Year Money Moves
Here are some things you might want to do before saying goodbye to 2017. 
Provided by Gerald Quigley

What has changed for you in 2017? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If … Read More

If you do, there are some “minor concerns” to keep in mind.
Provided by Gerald Quigley

Should you make a minor child the primary beneficiary of your IRA? Are there any caveats to that choice?

IRA owners frequently name young children as contingent beneficiaries of their accounts, but designating … Read More

In-Service Withdrawals from Employee Retirement Plans

You might be able to take money out of your 401(k), 403(b), or 457 plan while still working.

Provided by Gerald Quigley


If you withdraw money out of a workplace retirement plan in your fifties, will you be penalized for it? In most cases, the answer is … Read More