First, your 2017 taxes will not be affected. And remember, nothing has passed into law yet, so time will tell if we even end up with any kind of tax reform.
Currently, there are two versions of tax reform: one proposed by the house and the other by the senate. They seem very close:
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Because there is no required minimum distribution with a Roth IRA, most of the people we talk to about their Roth IRA accounts are thinking the best thing to do is to leave the account alone, ideally, never touching it themselves, and leaving it to their kids or other family members. If you are an heir, it’s much better to inherit…
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Several years ago, we got a call from one of our clients at tax time who was not at all happy with their tax bill.Instead of a small refund, as anticipated, they were looking at a $12,358 tax bill. Earlier in the year, following our recommendation, they had sold a mutual fund. We told them there wouldn’t be much of a tax bill from the sale, but now it looked like the mutual fund sale was the culprit triggering that $12,358 tax bill. Ouch!
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We recently received an email from someone who was concerned about new tax surprises and how they would be affected. Now a days not only do we have to question the accuracy of what we come across on social media and emails, we even have to be careful about what we see and hear in main stream media.
The email that was forwarded to us turned out to be…
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You’ve probably heard stories about large companies having their data hacked. These thieves steal customer and employee information like name, address and Social Security numbers. A while ago one of our clients who works for a large company was notified by their employer that they in fact had been hacked. Several months went by with nothing happening so they thought they had dodged a bullet.
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