Craig Lundquist's Financial Sense E-Delivery

Craig Lundquist, MBA

Sr. Financial Advisor

Wealth Advisors

Located at Ideal Credit Union

8499 Tamarack Rd., Woodbury, MN 55125

Phone: 651-773-2876

Email: craig.lundquist@cunamutual.com

Spring 2019

Retirement Investments That May Help Reduce Taxes

As April 15th approaches, it is natural to consider any and all ways to reduce the amount of taxes you pay in the future. Traditional and Roth IRAs are two options that may help reduce your total tax bill for 2018 and beyond, and you can open one for tax year 2018 up to the tax filing deadline in 2019.

Changes That Affect 2018 Tax Filings

As the filing deadline nears for your 2018 federal tax return, it may be helpful to brush up on changes that can affect how much you pay. Some of the changes cited below are subject to income limits and other qualifications, so check with your tax professional to learn about these and other changes to your 2018 return. Also beware that many individual changes will expire in 2026.

6 Ways to Find More Money to Budget

Ever wish you could find extra money to put toward your child’s college expenses or your own retirement? Maybe you would like to take a bucket list vacation or buy a larger home. Whatever your financial goals may be, finding the money to help pursue them can be challenging, but not impossible. Here are some ways to find more money:

Get Retirement Planning Right

It’s easy to put things off until tomorrow, especially when that tomorrow is years away. This attitude is just one of many ways we can derail or delay saving for retirement. Here are some mistakes to avoid.

Unmarried with Children

Pew Research Center analysis of 2017 census data found that one in four parents were unmarried, a sharp increase in recent years. More parents also have unmarried partners than in the past, which doesn’t change the fact that most parents — especially single ones — should have life insurance.

Tax Break for Business Owners

If you are self-employed or own a business, a Simplified Employee Pension IRA (SEP-IRA) can be one way to help reduce taxes and plan for retirement.

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