High-Income Households Would Benefit Most From Repeal Of The SALT Deduction Cap
By: Forbes - October 24, 2018
Only about 9 percent of households would benefit from repeal of the Tax Cuts and Jobs Act’s (TCJA) $10,000 cap on the state and local property tax (SALT) deduction, and more than 96%of the tax cut would go to the highest-income 20% of households, according to a new analysis by the Tax Policy Center. The top 1% of households, those making $755,000 or more, would receive more than 56%of the tax cut. TPC estimated repeal would reduce federal tax revenues by $620 billion between 2018 and 2028.
When To Replace Bonds With Annuities
By: Forbes - October 23, 2018
Annuities receive a bad rap in many circles, yet there is solid evidence that supports including the right kinds of annuities in your portfolio. Here’s when you should consider replacing bonds with annuities.
GRATS - Why The Trump Family’s Estate Plan Has Everyone Talking
By: Moshe B. Genet, Esq. - October 23, 2018
A New York Times report recently detailed how President Donald Trump received at least $413 million in today’s dollars from his father’s real estate empire. Donald Trump’s parents successfully transferred over $1 billion in wealth to their children, paying only about $52.2 million in taxes, or about 5 percent. One way they were successful was through the use of Grantor Retained Annuity Trusts, or GRAT for short. Find out more about GRATs here...
Estate Planning And Your Pursuit Of Happiness
By: Daniel Scott - October 23, 2018
While we can debate what “pursuit of happiness” genuinely means, suffice to say it is the belief and acknowledgment that we as individuals are much more than what we own; that the lives we live, and are entitled to live, are meaningful far beyond the mere accumulation of wealth and property. Wealth without application is valueless. Wealth management focuses on how you can acquire more wealth to fulfill your life goals. More here...
In Your 40s With No Retirement Savings? Make These Your Next Moves
By: Maurie Backman For The Motley Fool - October 22, 2018
It's no secret that Americans, on the whole, are behind on retirement savings. While it's one thing to be in your 20s or 30s with no nest egg, by the time you reach your 40s it's a bad situation.