Earlier this week, in a dark basement theater deep in New York’s Soho neighborhood, I debated Social Security in an Oxford-style debate sponsored by the libertarian Reason magazine. I was there to argue the affirmative in the following prompt: “Resolved: Given Social Security’s nearly $3 trillion trust fund, the system cannot add to the federal deficit.”
Taxes
Getty The Internal Revenue Service (IRS) has issued additional guidance on state or local tax (SALT) cap workarounds, and there are no real surprises. The guidance largely puts an end to the benefits of those workarounds aimed at mitigating the consequences of SALT caps following the Tax Cuts and Jobs Act (TJCA). Under the TCJA,
What To Do While We Wait To See If The Stretch Provisions Are Gone! Getty Getty A great many conscientious tax lawyers and other professionals have spent countless hours learning how to allow IRA and pension accounts that are payable to trusts for children or other non-spouse beneficiaries to remain under the IRA or pension
Most people spend too much time worrying about things they can’t control or influence and not enough time on factors over which they have some influence. When considering retirement plans, many people think first about the investment markets, the future of Social Security and what Congress will do about taxes. They can’t influence any of