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Olivia Schnell

Is 6% Inflation the New Normal?

  With headline inflation at 6%, is this now the new normal? And what does this mean for you and your portfolio? So why do we have this inflation? Really, there are three reasons. One, we’ve been printing money. We’ve needed to do asset purchases, which is code for the Fed buys bonds in the open market as a way to inject capital into the system. This saved the country from a depression when the first shutdown occurred in March last year. It’s always easy to start this money printing., it’s harder to taper. Second, and this has gotten almost no airplay because it’s so bipartisan, it appears, but every economist is choking on the concept, and that is tariffs. When the Trump tariffs came in and they have been maintained by the Biden administration, that basically increased the cost of everything that had a tariff applied. Tariffs are insidious…

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What’s Up With The Biden Tax Bill?

  September 13th, the Democrats came out with the new tax plan for 2022. A lot of significant changes that affected a lot of our clients in a number of different ways. As the conversation has evolved, this plan has pretty much completely fallen into disarray. So what’s left? What do we need to worry about? The original September 13 plan had a number of provisions: a new higher tax bracket, 25% capital gain, qualified business income rules, a high MAGI surtax, refundable tax credit, backdoor Roth elimination, grantor trust elimination. Now, where are we? There’s a certain amount of doubt. I get emails from CPAs almost every day, and it really depends on who you talk to, what was posted, where and what can still be negotiated. But there’s three things that definitely appear to be surviving. For those whose modified adjusted gross income is an excess of $10…

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