March  2018
Market Update


The March 2018  Market Thoughts Video  is now available on our website.  Brad McMillan, Commonwealth's CIO, recaps the economic news for February. Last month, there was a 10-percent market drawdown in the U.S., something we haven't seen for almost two years. Although many were worried that this was the "big one," the markets recovered more than half of their losses by month-end, and the economic fundamentals remain sound. Job growth is strong, business confidence is high, and consumer confidence is at the highest level since 2000. Will this good news continue into March?

Quick Links
 

 
   
 
____________________

1478 Marsh Road
Pittsford, NY 14534

P:  585-512-8453
F:  585-625-0477

Mortgage and Home Equity Loan Interest Deductions Under the Tax Cuts and Jobs Act
 
With its passage in December 2017, the Tax Cuts and Jobs Act (TCJA) changed the deductions for interest on mortgage and home equity loans.  This article answers some questions on how the TCJA is applied to mortgage and home equity loan interest going forward.
Estate Planning and Income Tax Basis
 
Periodically reviewing your estate plan to ensure it is current with your wishes is something we all should do.  One of the areas to review is the income tax basis and how it factors into whether to make gifts during your lifetime or transfer property at death.  
Get Tax Help 24/7 on IRS.gov
 
Tax help and information is not only available during tax time, but year around, whenever you need it.  Visit the IRS website where you will find publications, handy apps and full instructions for many topics, including preparing your tax return, changing your withholding, paying your tax bill and more.
Tax Calculators
 
Are you wondering if you could be getting a refund or if you will owe the IRS in April?  The 1040 Tax Calculator can help you estimate your total taxes for 2017.

The value of your savings can be affected by both taxes and inflation.  The Savings, Taxes and Inflation Calculator can help you determine how much your savings will be worth with this in mind.