Social Security recipients will get a 1.6 percent cost-of-living adjustment (COLA) in their monthly benefits starting in January. The average individual retired Social Security beneficiary is expected to see a monthly benefit jump from $1,479 to $1,503, an increase of roughly $24 per month or $288 for the year.
With the end of the year fast approaching, now is the time to take a closer look at tax planning strategies you can use to minimize your tax burden for 2019. With that in mind, we have listed several important items to consider as you review potential tax changes between now and the end of the year.
Fall Update
As we transition from Summer to Fall, we are just wrapping up Tax Season 2019 with the passing of October 15th extended tax deadline. With the passing of this deadline, comes a little rest… but then we start getting ready for Tax Season 2020. As in the past, we will be mailing out some information in November on scheduling your tax appointment, so be on the look-out for this to arrive by the first week of December. In the meantime, we wanted to provide everyone with this quick update about some changes occurring at the office.
