Is your tax plan optimized for 2018?

Did you claim any of the following deductions in 2017? If so, now is the time to plan to re-evaluate and restructure your tax plan as they are no longer deductible in 2018. Atlantic Wealth Partners can help. Call 561.632.0566 or reach Steve Olson directly at

  • Appraisal fees for a casualty loss or charitable contribution.
  • Casualty and theft losses from property used in performing services as an employee.
  • Clerical help and office rent in caring for investments.
  • Depreciation on home computers used for investments.
  • Excess deductions (including administrative expenses) allowed a beneficiary on termination of an estate or trust.
  • Fees to collect interest and dividends.
  • Hobby expenses, but generally not more than hobby income.
  • Indirect miscellaneous deductions from pass-through entities.
  • Investment fees and expenses.
  • Loss on deposits in an insolvent or bankrupt financial institution.
  • Loss on traditional IRAs or Roth IRAs, when all amounts have been distributed.
  • Repayments of income.
  • Safe deposit box rental fees, except for storing jewelry and other personal effects.
  • Service charges on dividend reinvestment plans.
  • Trustee’s fees for an IRA, if separately billed and paid.
  • Business bad debt of an employee.
  • Business liability insurance premiums.
  • Damages paid to a former employer for breach of an employment contract.
  • Depreciation on a computer a taxpayer’s employer requires him to use in his work.
  • Dues to a chamber of commerce if membership helps the taxpayer perform his job.
  • Dues to professional societies.
  • Home office or part of a taxpayer’s home used regularly and exclusively in the taxpayer’s work.
  • Job search expenses in the taxpayer’s present occupation.
  • Laboratory breakage fees.
  • Legal fees related to the taxpayer’s job.
  • Licenses and regulatory fees.
  • Malpractice insurance premiums.
  • Medical examinations required by an employer.
  • Occupational taxes.
  • Passport fees for a business trip.
  • Repayment of an income aid payment received under an employer’s plan.
  • Research expenses of a college professor.
  • Rural mail carriers’ vehicle expenses.
  • Subscriptions to professional journals and trade magazines related to the taxpayer’s work.
  • Tools and supplies used in the taxpayer’s work.
  • Purchase of travel, transportation, meals, entertainment, gifts, and local lodging related to the taxpayer’s work.
  • Union dues and expenses.
  • Work clothes and uniforms if required and not suitable for everyday use.
  • Work-related education.
  • Repayments of income received under a claim of right (only subject to the two-percent floor if less than $3,000).
  • Repayments of Social Security benefits.
  • The share of deductible investment expenses from pass-through entities.

Steve Olson CFP®, AEP® CEO | Family Wealth Advisor

Steve Olson’s experience spans over a decade of focused tax planning, legal strategy interpretation, investment management, and advisory services to wealthy individuals and families throughout the U.S. Over the course of his still young career, Steve provides counsel and management on individual assets and portfolios—encompassing a combination of securities, real estate, privately held businesses and other alternative investments—ranging in value from $5 million to over $400 million in value.

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