You’ve posted some very impressive performance since Donald Trump’s victory in the recent presidential election. While the debate will continue in regards to what changes will take place with the new regime in Washington D.C., individuals are contemplating how they will be impacted. What can you expect and how might you be able to make some strategic moves to take advantage of these changes? Let’s specifically look at what Trump and his team are proposing to change with the current tax laws and how it will impact your finances both today and in the foreseeable future.
With Trump in the White House and Republicans taking control over both the House and Senate, tax cuts are virtually a sure thing. Our current tax codes have individuals paying rates on a graduated level with seven brackets ranging from 10% to 39.6%. What many don’t realize is that with ‘Obamacare’ the top tax bracket pays an additional 3.8% on net investment income which brings their rate to 43.4%. Here are some key points to keep in mind as we move into 2017 and the potential changes: Continue reading →
Don’t over think this…quickly name two of the most polarizing topics you can think of. Allow us to throw two out that are often top of mind but very few people actually want to dig in and address…. Politics and Taxes. Both of these ‘ugly’ topics are incredibly relevant as we move closer to an election day that is quickly approaching and will impact nearly everyone for the foreseeable future!
Keep in mind that the information we are sharing is based on what each candidate is currently proposing and could be outdated within minutes of us publishing this article. It is also important to remember that any tax policy changes require congressional approval … one more reason to keep a close eye on this election! We won’t dig into every detail of their tax proposals or share our opinions, but rather highlight some basic facts and allow you to form your own opinions. Continue reading →