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Who Wants to be Taxed like a Massachusetts Millionaire?
The 2022 midterm elections resulted in a change to local taxes that penalize those high earners with a so-called Massachusetts “millionaire tax” that state voters just approved by a margin of about 52% to 48%.
Pension? You Have Important Decisions to Make
With most pensions, there are a number distribution options that you can choose from. For example, you can an income stream based on your life or that of your life and your spouse.
For Many Americans, Their “Magic Number” is Rising
Whether you have an income plan in place or not, the so-called “number” that many Americans are striving for is increasing. In today’s uncertain economy, rising inflation and market volatility are causing many to become more conservative in their estimates.
The Crypto Trend-Not for Me!
While some folks have made huge profits investing in crypto, it’s a very volatile and high-risk asset and relying on it to help fund your retirement could be a dangerous move, especially because it isn’t as well regulated as most other investments you can purchase today. This week I’d like to dig into some of the risks you might face if you’re considering a crypto investment.
A Little Light Ahead as IRS Adjusts Tax Rules to Help Offset Inflation
The IRS has announced that it is adjusting a number of current rules to help us better weather the impact of the current inflation, and this will mean some real tax savings for some taxpayers next year.
Who’s on First?
Now, new laws involving taxes always come with some questions, but usually the IRS clears these up promptly. But in the case of the SECURE Act, it seemed like the IRS was floundering for answers, leaving many at risk of paying penalties due to misinformation and in some cases, no information.
