Wealth Column: Getting the most out of filing your taxes – Brainerd Dispatch


Between the Tax Cuts and Jobs Act of 2017, state level tax reforms of 2018, the SECURE Act, the tax landscape changed for almost every filer. Depending on where the market is, you could be making IRA contributions at a discount relative to 2019, which presents an opportunity to rebalance your portfolio. But if you are at or around one of the cutoff points (phase outs begin at $75, 000 for single filers and $150, 000 for couples filing jointly, with a complete phase out at $99, 000 for single filers and $198, 000 for couples filing jointly) there is still time to reduce your income for 2019.

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