Note From The Partners


Dear WZ Clients and Friends,

As the end of the year is fast approaching, we should consider any last minute strategies that might help reduce your individual or business 2019 tax bill. Last year was the first year to be impacted by the Tax Cuts and Jobs Act of 2017 (TCJA). While there was no significant new legislation in 2019 affecting individual taxes, situations do change from year to year, thus requiring a fresh look at how to approach year-end tax planning. There are some strategies we can implement to benefit you and we should discuss before December 31.

For individuals:

  1. Bunching deductions into 2019
  2. Deduct Medical Expenses and Health Savings Accounts
  3. Mortgage interest deductions
  4. Home office expenses
  5. Revised kiddie tax rules
  6. Education-related deductions and credits
  7. Charitable contribution deductions
  8. Rental real estate
  9. Retirement planning
  10. Reevaluating your stock portfolio
  11. Substantial increases in deductions or non-taxable income could result in AMT exposure
  12. Planning for 3.8% net investment income tax
  13. Additional Medicare tax
  14. Timing income and deductions
  15. Foreign bank account reporting

For Businesses:

  1. Section 179 Expensing and Bonus Depreciation Deductions
  2. Qualified Improvement Property Glitch Remains Unfixed
  3. Qualified Business Income Deduction
  4. Rental Real Estate
  5. Vehicle-Related Deductions and Substantiation Requirements
  6. Fringe Benefit/Retirement Programs
  7. Increasing Basis in Pass-thru Entities
  8. Electing the De Minimis Safe Harbor
  9. S Corporation Shareholder Salaries

Please contact us with any questions or concerns so we can discuss ways to reduce your taxable income and tax liability for 2019.

From all three partners at Wagner & Zwerman, thank you for your patronage. Your continued support and suggestions throughout the years are a vital part of our growth. And for that, we are most grateful.

We look forward to serving you for many years to come.


Andrew Zwerman, Vincent Preto, John Antinore and the Wagner & Zwerman Team