Don’t Count on a Lower Tax Bracket in Retirement
If you keep contributing to tax-deferred accounts on the assumption that you’ll be in a lower income tax bracket in retirement, it’s time to rethink your retirement plan.
My Upcoming Book, Legislative Update and Thoughts on Hyperinflation
The situation with the Biden infrastructure plan continues to evolve. Senators Joe Manchin and Krysten Sinema have continued to be obstacles in the Democrats’ way from getting the bill passed. The Democrat caucus has been in disarray and seems…
Updated Tax Thresholds for 2022 AND Is the Biden Tax Plan Really Cost Neutral?
Joe Biden has talked about how his tax plan is cost neutral, where the increases in taxes on the wealthiest Americans will offset the costs. Maya MacGuineas recently took a look at the numbers to find out if that’s true. The Build Back Better Act is…
How to Access Your 401(k) Prior to 59 1/2 without Penalty
There is a little-known part of the IRS tax code that allows you to access your 401(k) or 403(b) prior to 59 and a half without penalty. Traditionally, the penalty is 10%, but the Rule of 55 gives you access without paying a penalty, but it comes with…
Can a Billionaire’s Tax Save Joe Biden’s Signature Legislation
The Joe Biden legislature is currently dead in the water. Congress people are looking for ways to pay for the package, but even if they could there may not be a package to pay for. Every Senator wields considerable power and a couple in particular…