Home|About Us|Our Services|News|Resources|Disclosures|Client Login|Contact Us

Act Before The Tax Pendulum Swings Back

(Tuesday, July 21, 2020, 9:00 p.m.) For business owners, professionals, and wealthy retirees, tax rules are about as favorable as they've been in decades, but the tax pendulum is likely to swing back the other way. You don't need to be a political pollster to know higher taxes are likely in the years ahead, with U.S. Government debt soaring and the U.S. Senate possibly changing parties. Now is the time to consider how a reset in tax policy is likely to affect you and your family.

Managing wealth requires tax planning. If investment management is the sizzle, tax planning is the steak. 

Retirees, for instance, have a significant opportunity to create a lifetime tax-free income stream by converting to a Roth IRA. But they must act by the end of 2020 and getting it done correctly requires careful advanced planning and forethought.

The difficulty in tax planning is that it is entirely dependent on your personal situation, including complex variables such as the needs of your children or other heirs, your charitable inclination, your age and health and a host of other personal preferences. It's personal.

At the risk of sounding alarmist, today really is a good time for business owners, professionals, and families with wealth to be considering tax minimization strategies. 


Email this article to a friend


This article was written by a professional financial journalist for Neiman & Associates Financial Services, LLC and is not intended as legal or investment advice.

©2020 Advisor Products Inc. All Rights Reserved.
 
Printer Friendly Version
Index
Anomalous Financial Economic Conditions Of The Covid Crisis
Three Easy Ways To Increase Your Chance Of Financial Success
Act By The End Of 2020 For A Major Retirement Income Tax Break
Business Owner Alert: Main Street Lending Program Offers Covid Aid
Financial And Tax Planning For The Long Run
A Constellation Of Facts Squarely Aligns With 2020 Roth IRA Conversions
Covid-19 Tax Break Suspends Required Minimum Distributions
PPP Update For Business Owners
Business Owner Alert: Covid-19 Retirement Loans
Coronavirus Tax-Breaks For Individuals; Details Emerge From IRS
Coronavirus Tax Planning Alert
Amid The Awful News, Some Good Signs
How Negative Interest Rates In Germany Limit Pandemic Economic Damage To U.S.
The Current Economy And Outlook For May And June
To Fight The Financial Crisis Spawned By The Coronavirus, The Fed Is Utilizing Powerful New Tools
© 2020 Neiman & Associates Financial Services, LLC | 22 Mill Street, Suite 303, Arlington, MA 02476 | All rights reserved
P: 781-641-5700 | F: 617-812-2594 info@neimanonline.com |
Disclosure | Contact Us