Congress enacted the Presidents “Tax Cuts and Job Act” at the beginning of the year. If you receive wages, then you have already felt the effect of the law changes in the reduction in withholding taxes taken out of your pay. There are many sweeping changes to the new tax laws that will affect all taxpayers. Elimination and/or reduction of popular deductions and adjustments to tax rates are just the beginning of the changes.
limitation of SALT deductions,
limitation of home mortgage interest deduction,
elimination of equity line interest deduction,
increase in standard deductions,
elimination of exemptions and adjustments to deductible charitable contributions.
These are only a few and changes also affect small businesses and corporations. It’s time to fine tune your year-end tax plan. Adjust your withholdings, contribute to a retirement plan, payoff or extend debt, and much more.
What effect will the new tax laws have on you?
Schedule your year-end tax planning meeting now and let the professionals at Milton Financial Group review your personal tax plan to give you the best advice for your needs.
BOSTON MAGAZINE names Milton Financial Group a “Five Star Wealth Manager”
Milton Financial Group president, William Pappafotopoulos, was pleased to hear that his accounting firm was selected as a “Five Star Wealth Manager” company for 2010. This elite award is given to less than 4% of the wealth managers in the Boston area and the results were published in the February 2010 issue of Boston Magazine.
“It is truly an honor to be selected for this category by more than 100,000 high- net-worth individuals and over 10,000 financial service professionals,” stated Bill. It was even more impressive to know that the list of candidates are then carefully selected and reviewed by a professional panel of financial advisors, estate planning attorneys and CPAs in the Boston area. “I am grateful to those who not only recommended me for this position in the financial community, but to those who further evaluated what we do and the integrity and service we provide our clients.”
Milton Financial Group was created in1985 as a small accounting practice, but went beyond the common tax practice duties. Bill soon realized that small to medium sized businesses needed assistance in many areas including accounting, tax consultation, controller services, business consulting, and strategic planning. Milton Financial Group soon took on those roles and in addition trains his clients to assist them with managing daily operations as well as use the latest technology to keep a business running efficiently.
With the state of the present economy, it is good to know that there is a qualified place with people you can trust to handle your finances and listen to your monetary concerns.