015 – Understanding the Complexity of the New Tax Code

KTsMoneyMatters Podcast

George Ferullo

 

In this episode, KT and George discuss:

  • Getting taxes done this year
  • Keeping a cool financial head
  • Writing off state and local taxes against the federal return
  • The trade off

 

 

Key Takeaways:

  • Your total tax obligation may not change as much as you think
  • Not everybody is going to save taxes
  • Alternative minimum taxes is a method on how to calculate your tax liability (state/local taxes and miscellaneous itemized deductions)… it wasn’t adjusted along with inflation
  • Only children under the age of 17 at the end of the tax, qualify for the tax credit

 

“This is a very, very complex tax code that has just been introduced to us… so tread lightly.” – George Ferullo

Connect with KT Thomas: https://ktsmoneymatters.com/

Twitter: KT Thomas

Purchase KT’s book- The Hardworking Woman’s Guide to Money

 

 

Show Notes by Show Producer: Anna Nygren

 

Audio production by Turnkey Podcast Productions. You’re the expert. Let us help you prove it.

About the author, Kathleen

Kathleen Thomas, who often goes by KT, has over 25 years of experience in the financial services industry and understands the need for women to take control of their financial lives.

A Certified Investment Management Analyst, Chartered Life Underwriter, and Certified Financial Planner™ practitioner, Thomas earned her degrees in Finance and Political Science from Salem College.

Prior to founding NewDay Solutions, an independent Registered Advisor Firm, Thomas spent 20 years as a private wealth advisor for Ameriprise Financial Services. Many of her earliest clients continue to work with her.

Thomas is an avid long-distance runner and triathlon participant. She has completed the Boston Marathon seven times and the Ironman Distance Triathlon three times. She has volunteered as coach and mentor for Girls on the Run New Hampshire and Team in Training.

Raised in Newton, Massachusetts, Thomas now lives in Seabrook, New Hampshire, with her husband, John. They have one daughter.

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