2019 Tax Planning for Individuals: Opportunities to Consider

As the holiday season approaches, you may find yourself reminiscing on the year that is to close and looking ahead to the year that is yet to be. We hope that it was a great one!

While you’re reflecting, it’s also a good reminder to look forward to the 2019 filing season and consider any last-minute planning. Below is a list of important topics and opportunities to consider for individuals in the 2019 tax filing season.

In addition, let your Lurie advisor know about those key moments or changes that we can, hopefully, help you celebrate! We’re always happy to help and are looking forward to reviewing 2019 with you if not before year-end, early in 2020!


Topics for Individuals


Capital Gain:

Have you triggered a capital gain or are planning on selling stock or assets that will generate a capital gain? If so, you may want to consider investing within an opportunity zone.



Maximizing Deductions:

Were you on the border of itemizing or claiming the standard deduction last year and thinking you may be on the border again for 2019 ($24,400 for married filing joint and $12,200 for single filers)?



FSA Contributions:

Glasses getting a little bent and scratched? Haven’t made that doctor appointment yet? Make sure that if you have been making FSA contributions that the funds are used by December 31st so that money doesn’t disappear!



Retirement Planning:

Do you have enough set aside or have you considered the availability of a cash balance plan?



Bonus Pay Structuring:

Depending on what you’re anticipating for next year and what tax brackets may await you, it may be advantageous to discuss with your employer if you are expecting to receive a bonus whether or not you could wait to receive until early 2020.




For more information contact Julie Helms – Director of Specialty Tax Services or your Lurie trusted advisor. 

Julie Helms, CPA
Specialty Tax Services










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