Page 14 - Leisure Living Magazine August 2017

Summertime Tax Ideas
Continued from page 13
your IRA to a Roth IRA over the course of many years and keep your income in the 10-15% in- come tax bracket. Of course please consult a tax advisor before embarking on any tax plan.
In addition to the progressive tax system we
have are the deductions and exclusions that we are entitled to by the IRS. For a married couple the standard deduction for 2017 is $12,700. That comes off the taxable income for tax purposes. Also, you get two personal exemptions of $4050 each! If you are over 65, deduct another $1250 as well. If you do the math, that’s a little more $23,000 of potential deductions and exclusions that lower your taxable income!
Do some homework and find out if taking money from those taxable accounts and moving them into tax free accounts is a wise strategy to employ not only for you, but perhaps your bene- ficiaries that are in high tax brackets due to their employment.
Thank you reading and enjoy the rest of your summer near the Lake!
Investment advisory services offered through Brookstone Capital Management, LLC. (BCM), a registered investment advisor. BCM and McIntire Retirement Services are indepen- dent of each other.
Information provided is not intended as tax or legal ad- vice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.
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VIP Club
After years of hard work and dedication, raising children, being active within the community, maturing gracefully, and planning for retirement, it’s time to take advantage of the events, trips and discounts through Magruder Hospital’s VIP Club for seniors 60 years old and older!
August & September Entertainment
Fri. Aug 18 Sat. Aug 19 Sat. Aug 19 Sun. Aug 20 Thurs. Aug 24 Fri. Aug 25 Sat. Aug 26 Sun. Aug 27 Thurs. Aug 31 Fri. Sept 1 Sat. Sept 2 Sat. Sept 2 Sun. Sept 3 Sun. Sept 3 Mon. Sept 4
7:45pm Gary Cover
3-6:00pm Jordan Weiwandt 7:45pm The Music Room 3-6:00pm Sea Jamz 7
6:45pm David Lester
7:45pm Master TC & The Visitors 7:45pm Michael Drum
3-6:00pm Jordan Weiwandt 7:45pm Steve Jadwisiak
7:45pm Kaptain Kurt
3-6:00pm Whiskey Business 7:45pm The Trio
3-6:00pm Jordan Weiwandt 7:45pm Miss Kitty and The Litter 3-6:00pm Matt Goodrich
For more information please contact
the VIP phone line at 419-734-3131 ext. 3147 or visit us online magruderhospital.com
121 E. Perry Street, Downtown Port Clinton
866-734-2101
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