An increase in inflation is resulting in a cost-of-living increase in Social Security benefits in 2018, as well as adjustments to tax-exempt earning levels.
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Intergenerational Wealth Transfer
Some investors start the new year with resolutions to improve their financial situation, and many include an emergency — or rainy day – fund for unexpected expenses.
A House and Senate conference committee agreed on a final tax bill that is expected to pass this week.
Despite the ongoing tax reform debate and potential for change, there are some key year-end planning considerations and deadlines that remain for 2017.
A House-Senate conference committee will need to iron out the differences following Senate passage of a tax reform bill that differs from the House version.
The current tax reform debate in Washington makes tax planning critical as year end approaches.
The Senate revealed its tax plan last week, which differs significantly from the House version.
Seniors age 70½ and older may benefit from a unique provision of individual retirement accounts (IRAs) when considering gifting strategies.
House Republicans introduced a tax reform bill that would reduce tax rates, eliminate some taxes, and make changes to certain deductions.
Investors may want to consider a three-bucket strategy to manage risks in retirement such as longevity and liquidity risk.