Ted Bauman Reveals The Next Steps For Filing Taxes

Making the most of his more than 25 years of knowledge and skill, Ted Bauman shares his approach on the topic of the new tax plan for U. S. taxpayers, which will apply to income earned in 2018 and future years.

His advice takes in adjusting 2018’s mortgage interest and property taxes earlier than the end of 2017 as new thresholds and higher standard tax deductions may put an end to having that potential ability later on.

He urged people to finance their intended medical services in December and deduct them in April. Bauman also reminded people to collect receipts for all donations and he advocated making philanthropic contributions earlier than January 1, 2018.

Learn more at Seeking Alpha about Ted Bauman

Bauman advised purchasing cars before the end of December and to be sure to keep the sales receipts. Another of his strategies includes making an effort to ask for yearly bonuses during December instead of January as taxpayers may benefit by making use of lower federal tax rates.

And while student loan interest deduction legislation has not been done away with, Bauman recommended taxpayers could profit from additional advantages from paying interest in late 2017 rather than 2018.

What’s more, he put forward high-level advice for people with businesses or retirement accounts. For example, he advised people to change to Roth IRAs and to be aware of likely savings to clarify whether it is practical to convert a standard IRA in 2018.

The skilled professional called attention to the IRS rules that will only agree to 1031 swaps that have to do with real estate after January 1, 2018 and motivated owners of ventures to finalize other buy and sell deals before January 1 as well.

Bauman received a Bachelor of Science degree from the State University of New York as well as a Master of Business Administration from Georgia State University.

His career encompassed work as a fund manager for South African low-cost housing projects as well as work as researching and writing on topics such as finance and investments. He also co-authored a book on financing with his father.

In 2013, Bauman joined Banyan Hill Publishing and currently functions as the editor of The Bauman Letter, Plan B Club and Alpha Stock Alert.

He and his family live in Atlanta, Georgia.

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