posts by Mark - 4/80 - Beacon Hill Investment Advisory, LLC

Deducting 2017 Property Losses from Your Taxes

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Hurricanes, wildfires, tornadoes, floods, earthquakes, winter storms, and other events often cause widespread damage to homes and other types of property. If you’ve suffered property loss as the result of a natural or man-made disaster in 2017, you may be able to claim a casualty loss deduction on your federal income tax return. What is …

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Is a nursing home the only option for long-term care?

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If you or a loved one needs long-term care, other choices besides nursing home care may be available. Here are some of the other options. Home care Most people would prefer to stay in their homes as long as possible. Depending on your needs, you may only need help with some common daily living activities …

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Why is it important to factor inflation into retirement planning?

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Inflation is one of the key factors you will need to consider when planning for retirement. Not only will the cost of living rise while you’re accumulating assets for retirement, but it will continue to rise during your retirement, which could last 25 years or longer. This, combined with the fact that you will not …

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Don’t Wait to Ask Aging Parents These Important Questions

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It’s human nature to put off complicated or emotionally heavy tasks. Talking with aging parents about their finances, health, and overall well-being falls into this category. Many adult children would rather avoid this task, as it can create feelings of fear and loss on both sides. But this conversation — what could be the first …

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Key Retirement and Tax Numbers for 2018

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Each year, the Internal Revenue Service announces cost-of-living adjustments that affect contribution limits for retirement plans, thresholds for deductions and credits, and standard deduction and personal exemption amounts. Here are a few of the key adjustments for 2018. Employer retirement plans Employees who participate in 401(k), 403(b), and most 457 plans can defer up to …

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