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The Tax Bomb…It’s Coming

In the U.S. we have seen a correlation between debt to Gross Domestic Product(GDP) as a leading indicator of tax increases.  The link below illustrates how the highest marginal tax income rate trends with the debt-to-GDP ratio.  Today, our debt is reaching...
61%

61%

Nearly 61% of U.S households paid no federal income taxes during pandemic-stricken year of 2020, because of declines in income and boosts to government subsidies that wiped away tax liabilities, according to data from the Urban-Brookings Tax Policy Center. The number...
Relocating in Retirement?

Relocating in Retirement?

Limits on state and local tax deductions add another consideration as you think about where you want to live in retirement. More here:  Taxes & Relocating in Retirement – What to Consider Before a Move (ml.com) Hat tip Merrill...
The Tax Bomb…

The Tax Bomb…

Estate planning with life insurance As Congress wrestles over Biden’s agenda, some advisors have been proactive with clients, exploring ways to lessen the possible impact. If taxes rise, some clients may buy more life insurance to cover the bills, said Herron. ...