Boot Camp

Well it’s that time of year again. Presently at the firm we are transitioning from the Income Tax Review season into the CPA / PFS Live Review season. This tax season was particularly difficult for our clients and their advisers. The reality of the reinstatement of the Personal Exemption Phaseout and the limitation on Itemized Deductions became quite apparent to many of our clients. Also, the Net Investment Income tax, created to support the Affordable Care Act, gave shocking results to our clients, to say the least! Long story short, taxes are higher for almost everyone. [Read more…]