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Mega-Rich Backdoor IRA Strategies May Backfire If New Tax Bill Passes

While it’s usually true that the “rich get richer,” a proposed tax code will prove a remarkable exception if the House has its way. The legislation would mandate an annual required minimum distribution for retirement accounts exceeding $10 million and is aimed at accounts used as tax shelters by the...

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The Ins and Outs of Bookkeeping: All the Best Practices to Get the Best Financial Outcome From Your

If you had to make a list of some of the most critical elements of running a business that most new entrepreneurs don't think enough about until it's far too late, bookkeeping would undoubtedly be right at the top.On a surface level, bookkeeping is simply the process of keeping accurate,...

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Costs for Installing Medically-Related Home Improvements Have Tax Benefits

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Aging Population Home Improvements for Medical Care or Treatment Improvements That Increase the Home’s Value Improvements That Do Not Increase the Home’s Value Medical AGI LimitationsAccording to the Social Security Administration, 10,000 baby boomers a day are reaching the age of 65. As of 2018, 16%...

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Mega-Rich Backdoor IRA Strategies May Backfire If New Tax Bill Passes

While it’s usually true that the “rich get richer,” a proposed tax code will prove a remarkable exception if the House has its way. The legislation would mandate an annual required minimum distribution for retirement accounts exceeding $10 million and is aimed at accounts used as tax shelters by the...

Read more...