December 31st is Right Around the Corner

Dec. 31 is just around the corner. It’s time to start thinking about next season and to make any last-minute moves that might improve a client’s tax position.

For starters, the standard deduction amounts remain $6,300 single/married filing separately, and $12,600 for married filing jointly. The standard deduction for heads of households, however, rises to $9,300.

Contact us for other important insights to do before the end of the year such as deferring income, keeping an eye on your adjusted gross income, new permanent incentives for individuals and business and retirement.

"Know Before You Owe"

Compliance professionals have been consumed by TRID for the past twelve months, and with good reason. The magnitude of change TRID has spurred in the mortgage industry is unparalleled in recent memory, and only recently has the Consumer Financial Protection Bureau (CFPB) acknowledged that the rule has been less than clear in several aspects.

Being immersed in the day-to-day challenges of ensuring compliance with TRID is certainly the highest and best use of compliance professionals’ time.