SULLIVAN & COMPANY
CERTIFIED PUBLIC ACCOUNTANTS

 

PAUL F. SULLIVAN, CPA                                                                                               

RAJ GOENKA, CPA
MONIKA BENKOVIC, CPA                                                                                              

 

 

December 27, 2017
 

MEMO


To:      Our Clients

From:  Paul F. Sullivan, CPA
           Raj Goenka, CPA

             Radka Windt, Business Services Manager
 

RE:     New Tax Law Changes
 



     As 2017 comes to an end, you have most likely read that Washington has passed new tax laws. It might be beneficial to review your tax situation.

     The major change for individual taxpayers that itemize is that the state tax and the property tax deduction will be capped at $10,000 for 2018. For some clients, it might be beneficial to pay your real estate tax to the extent you are able before 12/31/17. In addition, it may be beneficial to pay all of your state tax payments before 12/31/17 also. In general, this will allow a deduction in 2017 that would not be allowed in 2018. This does not apply if you are subject to the alternative minimum tax in 2017.

     In addition, there will be no deduction allowed for investment management fees or tax preparation fees in 2018. Some of you can deduct these on your tax returns in 2017. You can speak with us if it will be beneficial for you to prepay investment fees and/or tax preparation fees before 12/31/17.

     These are general suggestions that apply to many of our clients that are contacting us. If you have any questions or would like to discuss your individual tax situation, please contact us. In general we are available until the end of this year should you have questions regarding your individual tax situation for 2017.

     We hope you have a wonderful remainder of the holiday season. We look forward to seeing you in 2018.

 

   

Very truly yours,

     
   

 

 

4709 MONTGOMERY LANE, SUITE 201, BETHESDA, MD 20814 TEL (301) 657-8080 FAX (301) 657-9055
MEMBER AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS

 

 


 



4709 Montgomery Lane | Bethesda, MD 20814

Direct Dial (240) 316-3531 | Phone (301) 657-8080 Ext 102 | Fax (301) 657-9055
Website:
www.esullivan.net | E-mail: paul@esullivan.net
 

The opinions contained herein are not intended to be investment advice or a solicitation to buy or sell any securities. Information obtained from sources deemed to be reliable, but accuracy or completeness is not guaranteed. Past performance is not a guarantee of future results. Performance figures contained herin do not represent actual client portfolios or results. Actual results may significantly differ from the model portfolio returns presented. Archer Investment Corporation manages the Archer Funds. You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Funds before investing. The investment return and principle value of an investment in the Funds will fluctuate so that an investorís shares, when redeemed, may be worth more or less than their original cost. The Fund prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the prospectus by calling 800-581-1780.
 
 

Sullivan & Company | Certified Public Accountants | 4709 Montgomery Lane #201 | Bethesda, MD, 20814 | 301-657-8080