posts by Anne Zavaglia - Beacon Hill Investment Advisory, LLC

April 15 Tax Deadlines

New for the 2018 tax year, forms 1040A and 1040EZ are no longer available. Individuals will use Form 1040 to file returns. If you are unable to file your return by April 15, you may request an Automatic Extension (Form 4868). The extension provides an extra six months to file, however any tax payments are …

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Social Security Survivor Benefits

Social Security may pay benefits to eligible family members when a person dies, helping to make their financial life easier About 10% of the approximately 62 million Social Security beneficiaries in December 2017 were receiving survivor benefits.1 Who is eligible for benefits? A dependent child may be able to receive survivor benefits based on the …

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Qualified Business Deduction for Real Estate

Business owners will be able to deduct 20 percent of their qualified business income on their 2018 federal income tax return. The 20% pass through deduction applies to businesses that qualify as a Section 162 trade or business. The IRS has issued further guidance for those wondering if income from rentals will qualify as Section …

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Will the Shutdown Affect Tax Season?

We are currently experiencing the longest shutdown in since the Congressional Budget Office was created. A number of departments and agencies have been shutdown including the IRS. IRS offices have been closed, and almost ninety percent of its workers were furloughed when the shutdown began last month. The small percentage of employees that have been …

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Women face challenges when planning for retirement.

Women generally earn less over the course of their lifetimes than men which is often due to family care giving responsibilities. Statistically, women live longer than men1 which means women will need to stretch their retirement savings and benefits over a longer period of time. Women and men may start out on relatively equal financial …

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