Biden’s Tax Proposal: Door Closing on Trusts
So, Biden has a new tax bill that he’s proposed, and one of the provisions of the tax bill is to aggressively shut down Grantor Trusts. Most people have no idea what Grantor Trusts are. But should this happen, your estate tax bill could be increased significantly. The proposed tax law as written eliminates […]
The One Thing You Can Safely Do Now Ahead of Biden’s New Tax Bill
The backdoor Roth. It’s a great technique for getting after tax dollars into a Roth IRA if you don’t otherwise qualify. That deal might be a goner by the end of the year. What can you do? Is there anything that’s risk-free, meaning even if they don’t pass the bill as it stands – […]
Has the Need for Quantitative Easing Passed?
Back in March 2020 massive cash infusions saved the economy from what could have been a deflationary spiral, the worst-case scenario at that point in time.
Tax Deadline – What to Know for Next Year and Biden’s Taxes
We’re coming up on June 15th – tax deadline after all the extensions for Texas; was May 15th if you’re not in the state of Texas. What do we we expect next year? There’s a lot of talk about Biden 2020, 2021. Where are we going to talk about? Obviously if you’re not ready for […]
How Does Inflation Affect Your Long Term Plan?
Inflation in April was 4.2%. It’s as high as it’s been in a long time. How does inflation impact your plan? So everybody’s concerned about stock rally, stock corrections, how’s that going to affect my future? Nobody really thinks too hard about inflation. I mean, there’s been a lot of concern lately, but how does […]
The Capital Gains Conundrum
With proposals to eliminate the capital gains tax for people earning over $400,000 a year, it leaves us with a conundrum. Should we deliberately be taking long-term capital gains at this point in time? Taxes are easy to manage, yet difficult to avoid. Typically strategies involve some combination of rescheduling strategies, such as: Roth conversions, […]
A Focus on the New Threat of Inflation
$1.9 trillion in economic stimulus on top of $2.9 trillion in 2020. Will almost $5 trillion of economic stimulus – printing money – reignite inflation, and if so, what can we do about that? When I came to the United States in the Fall of 1979, with $200, inflation in the United Kingdom was 13.4%. […]
Women and Wealth: Taking Charge of Your Finances
When it comes to financial planning, women are likely to face different challenges than men. For one, they earn less than men on average, and they’re more likely to work part-time jobs or take time away from their careers to raise children and care for family. Time off and lower lifetime income means women face […]
Donating Appreciated Bitcoin, Stocks and other Assets
Bitcoin’s above $50,000, the S&P 500 is above $3,800. There’s a lot of hurting out there with COVID. Is there a way that you can give back and also skip the taxes on some of these outrageous capital gains? So with all that’s going on with COVID out there right now, there’s a lot of […]
It’s Tax Season Again
Tax time is just around the corner. Here’s a couple of pointers that may help mitigate the cost and difficulty of preparing your taxes this year. We’ve got a lot of different clients with a lot of different desires when it comes to how best to file their taxes. Some clients, every single document, as […]