Oops, you’ve lost your household tax deduction!

Had job expenses?

Oops, you lost those too?

You paid alimony?

Congratulations, to the other spouse–that is now tax free to them–no more tax deduction for you.

Have a home-based business and want to write off the deductions? Oh no! When you received your $25 bi-weekly tax cut were you smart enough to plan a W-4 readjustment at work, to put you in your correct tax bracket- for both 2018 and 2019?

Well, now you know just a part of the answer! Welcome to tax season 2018–the year the 2017 Donald Trump Tax Bill, which applied in our lives, Jan 1, 2018, came into our lives. Some of the most basic and radical changes since 1914.

And noticed I used the word planning.

If you are looking to save money on your taxes?

That’s not the job of a tax preparer!

Are you looking now for a tax preparer to teach you deductions & credits to lower your tax liability?

That’s not a job of a tax preparer! After all, 2018 is gone.

A tax preparer takes the information you have given them, process, and then e-files it away to the governments. The magic is not in the preparation, it is in the “planning.”

A tax planner, in simple terms, educates you on tax tips and strategies, designed to lower your tax liability, so when you see your tax preparer, they will process  the “value juice” out of it!

What is value juice? The tax savings that you will receive that helps you give your tax professional “the right ingredients,”  to process that income tax cake into one big juicy refund!

So yes, the proper way to execute tax season is to plan today for your preparation refund tomorrow. The only question now is, are you ready for tomorrow? If you are, then start tax planning, today–for April 2020–and we’ll say a prayer for you today.

Professor Anthony Rivieccio, MBA PFA is the founder and CEO of The Financial Advisors Group, celebrating its 20th year as a fee-only financial planning firm specializing in solving ones financial problems. Mr. Rivieccio, a recognized financial expert since 1986, has been featured by many national and local media including: Klipingers Personal Finance, The New York Post, News 12 The Bronx, Bloomberg News Radio, BronxNet Television, the Norwood News, The West Side Manhattan Gazette, Labor Press Magazine, Financial Planning Magazine, WINS 1010 Radio, The Bronx News, thisisthebronx.com and The Bronx Chronicle. Mr Rivieccio is also currently an Adjunct Professor of Business , Finance & Accounting for both, City University of New York & Monroe College, a Private University. For financial assistance , Anthony can be reached at (347) 575-5045. If you would like a FREE copy of The Forbes Magazine 2018 Tax e-Guide just give our office a call. Feel free to visit their FACEBOOK Business page for past Financial Focus articles:  www.facebook.com/iwantmytaxmoney