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The GOP Tax Plan Has The Wrong Real Winners And Losers

Whenever a government changes a taxation scheme, there are current winners and current losers. After a new tax scheme goes into effect, most people adjust and then there are a different set of winners and losers. A simplier tax scheme with fewer loopholes would be welcome. With...
Posted On 18 Nov 2017

Things You Should Know About the GOP Tax Plans

We knew immediately that the tax overhaul blueprint released by House Republicans November 2 was a long way from the finish line Despite fitful efforts at crafting tax plans beginning when the Republicans took over the House of Representatives in the 2010 elections the detailed Source
Posted On 16 Nov 2017

The States With the Scariest Death Taxes

Federal estate taxes are no longer a problem for all but the extremely wealthy In 2017 as much as 5 49 million in assets is exempt from federal estate taxes double that for a married couple In 2018 the exemption will rise to 5 6 million However state estate taxes which kick Source
Posted On 16 Nov 2017

Most-Overlooked Tax Breaks for Investors

With Congress attempting the most sweeping overhaul of the nation s tax laws in a generation this could be your final chance to take advantage of some of these too often overlooked tax deductions Be sure you make the most of them with your 2017 return while they re still Source
Posted On 16 Nov 2017

In A Week Of Distractions, Stay Focused On Data And Taxes

What matters above all else to traders and investors alike this week is that they remain focused on the two subjects that have real, long-term significance, and don’t get distracted by stories that seem more interesting, but have limited impact. By the end of the week we will...
Posted On 16 Nov 2017

Sterling Trounced by Growing Political Challenges

The US dollar has begun the new week on firm footing, without the help of either higher interest rates or increased confidence that Congress will agree on a tax plan.   Indeed, over the weekend the Chair of the House Ways and Means Committee was explicit that the Senate plan to...
Posted On 16 Nov 2017

5 Tax-Planning Steps to Take Before the Year Ends

By  Lawrence Sprung, CFP® As we enjoy the final quarter of 2017 (yes the last two months of the year are here), I am sure you cannot believe how fast this year has gone by.  Keep in mind that the year is not going to slow down and there are several things you should be thinking...
Posted On 16 Nov 2017

Gifting a Life Insurance Policy to a Charity

Earlier this year Grace who is a recent widow and longtime client found herself questioning the need of an old whole life policy The policy had cash value of 100 000 and a death benefit of 220 000 With the passing of her husband and her two grown children financially independent...
Posted On 16 Nov 2017

Here’s What the Republican Tax Plan Means for You

House Republican leaders on Thursday released details of reforms that would overhaul the U S tax code cut individual income tax rates and remove a number of breaks and deductions in the name of making Americans tax bills simpler and smaller Much political Source
Posted On 04 Nov 2017

How to Report a Tax-Free Transfer From Your IRA to Charity

Question I have to take a 20 000 required minimum distribution from my Vanguard IRA this year I d like to give 5 000 tax free to a charity and withdraw the remaining 15 000 for myself A Vanguard rep said it would send me a check for 15 000 payable to me as well as a 5 000 check Source
Posted On 25 Oct 2017