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U.S. Trade, Tariffs and Tax Breaks

In Articles, Investments, Taxes by Brad Stark

For a little background, tariffs – which are taxes or duties on imported/exported goods – are largely considered economic detractors, with the end product being trade wars that cause higher priced goods and lower productivity. In layman’s terms, it is counter-productive to economic activity for all involved. That hurts the Trump agenda (and it hurts China and Mexico, for instance). …

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Department of Labor Postpones Fiduciary Rule for 60 Days

In Articles, Investments, Taxes, Wealth Management by Amanda Thomas

What is the Fiduciary Rule? One would assume that the financial industry must or should have clients’ best interests at heart, but – per the rules now – it is actually legal for most to not. Last year a rule was passed to create a “fiduciary” requirement for all advisors when providing advice on retirement plans and IRA accounts where …

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Three Stages of Retirement Account Withdrawals

In Articles, Taxes, Wealth Management by Brad Stark

If you are under the age of 59 ½, retirement plans are typically the last place you want to pull money from, but there are exceptions. Regardless of your age, understand that tax-qualified money (e.g., 401(k) accounts, IRAs, pension plans, etc.) grows tax deferred and becomes taxable when funds are pulled out. The taxes owed are NOT subject to the …

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The Bipartisan Budget Act of 2015

In Articles, Taxes, Wealth Management by Mission Wealth

Today, President Obama signed into law the Bipartisan Budget Act of 2015, legislation that raises the federal debt limit and establishes the framework for a two-year budget deal. The legislation, needed to avoid an impending default on U.S. debt, also contains multiple unrelated provisions, including an elimination of two Social Security retirement benefit claiming strategies and a provision to prevent …