The Wall Street Journal has done a very thorough job of estimating taxes under each of the Democratic candidates for president.
The takeaway is clearly that there’s a possibility that the Democrats may once again control the presidency and one or both houses of congress. When that happens the current plans on the table (representative of future plans) make it clear that taxes will need to be raised.
At today’s tax rates it makes it look like taxes are ‘on sale.’ What are you doing now to prepare your retirement to avoid possible future tax increases? There are a number of strategies that should be investigated.
See more in this Wall Street Journal article, The Tax Increases to Come.
If you’re unable to retrieve this article let us know and we’ll send you a copy.
Is there good news? Yes, President Trump is floating the idea of another tax cut. Taxes on sale creates a great window of opportunity.
See more in this Fox Business article, Trump’s tax cuts 2.0 could include this retirement savings perk
If you’re unable to retrieve this article let us know and we’ll send you a copy.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.
