Know your story.    Archive for the ‘Tax’ CategoryThe President’s proposed future tax changes and some questions about past onesFrom Andy Friedman of The Washington Update: The United States government has once again hit its borrowing limit. The government is permitted to borrow through May 18, after which it can continue to operate without additional borrowing for about three months. By fall, Congress will have to raise the debt limit to prevent the United [...] Fiscal Cliff CompromiseHappy New Year. We begin this year as we ended the last – approaching another cliff. To start the year off right, Andy Friedman appeared yesterday on CNBC to discuss the ramifications of the fiscal cliff compromise. You may access the segment by clicking here. American Taxpayer Relief ActAs we wish you and your family a Happy New Year we’d like to provide you with some insight into the most recent tax legislation affecting your family and business. Congress passed the American Taxpayer Relief Act early Tuesday morning enacting tax hikes to the wealthiest Americans while extending other pro-business tax incentives. The act’s [...] Deadline for Roth Conversions at Preferential Tax Rates: December 31, 2012Market Trend: Beginning in 2013, a new 3.8% Medicare tax will apply to certain investment income, and income taxes generally may increase if the Bush tax cuts expire. Thus, individuals could have difficulty structuring their financial affairs in a tax efficient manner given the current uncertainty regarding future tax rates. Synopsis: Owners of traditional IRAs [...] The Washington Update from Andrew Friedman – Bush Tax Cut Extension UpdateA new excerpt from Andy’s speeches, added to the front page of his website, discusses his current thinking on the likely Congressional deliberations over the extension of the Bush tax cuts at year end. You may access the video by clicking here. Roth IRA conversions, AMT repeal, and VATThe Washington Update from Andy Friedman Roth IRA conversions: Tax rates are likely to rise at year end as Washington considers whether to permit some or all of the Bush tax cuts to expire. On the other hand, tax reform efforts in 2013 could reduce rates. Fluctuating tax rates provide an interesting arbitrage opportunity for [...] The Supreme Court Rules on Health Care Reform: What It Means For InvestorsThe Washington Update from Andy Friedman The Supreme Court has now upheld the individual mandate, the controversial part of the health care reform law (The Patient Protection and Affordable Care Act) that requires individuals to carry health insurance. At the same time, the Court struck down the requirement that states expand their Medicaid coverage to [...] The Washington Update from Andrew Friedman – Dividend Tax RateHow might a significant increase in the dividend tax rate at year-end affect the values of dividend-paying stocks? In his budget released last February, President Obama changed his position and proposed allowing the dividend tax rate for families with income above $250,000 to rise in 2013 to the ordinary income tax rate, rather than to [...] The Washington Update from Andrew FriedmanIf the Supreme Court rules that the health care reform law is unconstitutional, will the new 3.8% tax on investment income nonetheless take effect next year? Last month, the Supreme Court heard oral arguments on the constitutionality of the health care reform law’s “individual mandate”, which requires Americans to have health insurance or pay a [...]
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