2020 was an unusual year that had several major legislative bills passed that could have an impact on your taxes. It is also a presidential election year, so investors might want to think about potential future tax strategies. Although it will take more than a change in president to enact tax laws changes …
SECURE Act Changes That Affect Your Retirement
The “Setting Every Community Up for Retirement Enhancement” (SECURE) Act was signed into law. This new legislation made major changes to a number of tax rules that govern retirement savings. Many of these changes started in 2020, and they include significant changes that retirement savers should know …
Filing 2019 Income Taxes and Planning for 2020
For 2019, Form 1040 has been slightly redesigned. There is time to look into tax planning ideas for your 2020 taxes, but here are some things tax filers should review. There are seven federal income tax brackets for 2019. The lowest of the seven tax rates is 10% and the top tax rate 37% …
New Tax Changes: The SECURE Act
The New SECURE Act and Proactive Retirement Planning Tatyana Bunich CEP.RFC. The House of Representatives passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act on May 23. The next step is to pass through the Senate and be signed by the President. With strong bipartisan support and the Senate already considering changes for retirement plans, industry expert Bob …