The Tax Cuts and Jobs Act, while controversial, especially in high state income tax states, will result in tax savings for most people. Continue Reading
Given the relatively small limit of nondeductible IRA contributions and complexity of calculating allowable contributions, tracking basis, and calculating the taxable portion of IRA distributions, are they worth the effort? Continue Reading
Making deductible retirement plan contributions and “recapture my deductions” beginning when you turn 70-1/2 may not be the best strategy for optimizing after-tax retirement plan distributions. Continue Reading
The alternative minimum tax, or AMT, dreaded by many taxpayers for years, has been given a long-overdue facelift by the Tax Cuts and Jobs Act, with an associated reduction in affected individuals from 5 million to 200,000. Continue Reading
The new Tax Cuts and Jobs Act contains several provisions that partially, or completely, negate what appear at first blush to be potential tax savings. Continue Reading
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