Neal Templin, Barron’s, 07.12.2021
Getting money into a tax deferred savings vehicle like a 401K or IRA is only half the job; getting it out tax efficiently is the other half”.
Robert McClelland, MarketWatch, 05.03.2021
Don’t feel too relieved just yet that you’ll probably dodge President Biden’s proposed 43.4% capital gains rate for taxpayers who cross the $1 million income threshold. Why? Because his proposals seek to tax unrealized gains at death rather than allow a step-up in basis. Right now, estates taxes are governed largely by the estate tax exemption of $11.7 million per individual. This proposal would add a layer of tax on estates that kicks in at Biden’s much lower exemption amount of perhaps $1 million per individual. This could prove to be a change to tax law that captures not just the wealthy, but also the moderately affluent, like you.
Evie Llu, Barron’s, 01.12.2021
Barron’s take on Biden’s likely legislative agenda is fairly positive for most reading this post – fiscal stimulus programs on top of massive existing monetary stimulus from the Fed, with potential for a few modest tax increases. The loser is the national debt. Nothing new there!
Kerry Hannon, Next Avenue, 11.23.2020
If you worked from home this year it might be worth making sure you’re up to speed on the main rules around claiming home office expenses and/or being reimbursed by an employer for work-related expenses.
David Afraimi, Kiplinger.com, 04.23.2020
These tax diversification strategies are becoming even more important given how much extra debt the federal government is incurring during the COVID-19 pandemic.
William Baldwin, Forbes, 01.05.2020
Are you thinking about your mortgage interest the right way? The Tax Cuts and Jobs Act of 2017 changed the mortgage interest deductibility rules.
Joy Taylor, Kiplinger.com, 11.14.2019
A good checklist to keep in mind as you prepare your 2019 tax file.
Ron Carson, Forbes, 10.30.2019
Year-end is just around the corner. Here are 10 items to help minimize your tax exposure for 2019.
Ron Anno, Kiplinger.com, 10.16.2019
Higher future tax rates are a key risk that every high income earner should be thinking about. The following article outlines one of the key strategies to address this risk.
Bill Bischoff, MarketWatch.com, 08.03.2019
Some basic rules regarding estates that everyone should know.
Karen Hube, Barron’s, 05.07.19
Upstream planning is probably something you’ve never heard of, but in the right circumstances, could be worth considering. Of course there are risks, as with any strategy, including that Congress could change the estate tax exemption yet again in the next few years.
Laura Saunders & Elisa Cho, Wall Street Journal, 12.07.18
If you’re over 70, and feeling charitable, make sure you read this.
David McKnight, MarketWatch.com, 11.21.2018
Given our massive and rising national debt higher taxes from 2026 onwards are a very likely event. Plan your retirement accordingly.
Lorie Konish, CNBC, 12.04.17
This time of year is required minimum distribution (RMD) time for a lot of retirees. Here’s a good list of missteps to avoid.
Beverly DeVeny, Ed Slott & Co., 10.10.2018
The following article highlights how inherited IRAs can be complex to manage. Unless you’re very familiar with the rules regarding inherited IRAs, it is best to seek advice promptly after receipt of this type of IRA. Penalties for mistakes can be severe.
Helen Modly, CFP, CPWA, Morningstar.com, 10.03.18
The recent tax cut legislation modified the kiddie tax rules that have significant planning implications for parents. The following article provides a nice summary of the impact for families at various income tax brackets.
Bill Bischoff, MarketWatch.com, 12.20.2017
Good summary of the tax reform package about to go into effect for 2018. Key items for investors are 1) recharacterizations of Roth conversions will no longer be allowed, 2) tax rates on long-term capital gains and dividends stay the same, and 3) the dreaded FIFO rule for capital gain calculations was dropped.
Catherine Golladay, MarketWatch.com, 06.16.18
You must keep planning as you age. This article touches on many of the key tax issues that anyone with retirement savings needs to think about well before retirement arrives.