BASKING RIDGE, NJ - At the March monthly meeting of the Basking Ridge Business Alliance (BRBA), the full room of local professionals received helpful and timely tax and financial information from WFP Tax Partners' CEO and Wealth Strategist Walter Pardo.

Prior to the workshop, BRBA President Ryan McCloskey of Computer Sharp discussed upcoming events and the members and guests had the opportunity to introduce themselves. 

Pardo provided the group with high level tips on how to maximize the tax incentives and opportunities available to individuals and businesses. He said, "My goal is to have you walk out with better knowledge of the new tax situation and benefits for New Jersey business owners." He asked the room if they had strategies in place to lower their taxes now and into retirement. "There are two challenges when you transition from working to not working -- 1. Cash Flow and 2. Tax Mitigation." He emphasized the importance of planning and preparation.

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He discussed the changes of the 1040 form including the increased standard deduction, business deductions, progressive tax rate and change in child credits. He also answered questions from the audience about capital gains, home sale gains, advantages of 401K conversions and Roth IRAs. 

The BRBA's next monthly meeting will be held at 8 a.m. on April 9 at the Bernards Township Community Center at 289 South Maple Ave. in Basking Ridge. Visit the BRBA website for more information. 

Editor's Note: Walter Pardo is the CEO of Wealth Financial Partners & WFP Tax Partners, located in the historic Liberty Corner section of Basking Ridge, NJ. He is a Certified Wealth Strategist and Professional Plan Consultant with Series 7, 66 and 63 licenses. Walter is licensed in the states of AZ, CA, CT, FL, KS, OH, NY, NJ, IL, PA, SC, and TX, and VA. Walter is a Master Elite member of the Ed Slott Elite IRA Advisor Group℠.