Just a couple weeks left in 2018. Folks 70 1/2 or more need to withdraw required minimum from retirement accounts, I know. Anything the rest of us should look at before year end?
Tax accountants, CPAs: What now?
- Thread starter Macfrommichigan
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simon1
Self Ignored by Vista
I just need to get the State Sales and Use tax form filled out and sent off by the middle of next month, and get the expenses put down on a spreadsheet for this year for my business to send to the accountant.
Oh, and I need to get the paperwork filled out for my police retirement so I can start drawing it after the first of the year.
Oh, and I need to get the paperwork filled out for my police retirement so I can start drawing it after the first of the year.
Our financial year in Australia runs from the start of July until the end of June the next year. Does the financial year in America run in the calendar year, or is this just an extra type of accounting period?
Usa financial year ends 31 Dec.
If you got an ACA subsidy in 2018 and your income increased from the amount you told them, you may need to move some money into an IRA or deferred comp to keep from getting hammered on the subsidy.
If you itemized last year, you may be filing a 1040EZ this year. The increased deductions are responsible for that. That saves me paying H&R Block $350.
If you itemized last year, you may be filing a 1040EZ this year. The increased deductions are responsible for that. That saves me paying H&R Block $350.
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Sent in quarterly tax payments, but it is a real crap shoot. Retired. Only did a little consulting for the university. The issue for me is capital gains in a mutual fund. Even though the market has been flat in 2018, the fund can still generate outsize taxable gains, on paper. And I won't know the damage until the end of the year. Don't have any losses to offset it. (Yeah, high class problem.)
If you received monies from the mutual fund, you have to pay capital gains on that. I have an Accounting degree but I am not an accountant but I think it is still 15% cap gains tax. You should have a statement of gains realized from the people holding the mutual fund.
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H4nk, this is a non-sheltered equity fund. Everything is automatically reinvested. The value of the fund will be about the same Dec. 31 2018 as it was Dec. 31, 2017. The market has been volatile but flat. Nevertheless, stocks in the fund sold by the manager in the calendar year can create taxable gains, sometimes sizeable, even though I am not any richer. It does add to my basis, tho.
If the fund were in an IRA, it would not be an issue.
If the fund were in an IRA, it would not be an issue.
