Congress actually accomplished some important but lesser-known work beyond the SECURE Act it just passed on 12/20/2019 and Trump signed it into law a few days later. For example, as part of the year-end spending law to keep the government funded, Congress has retroactively revived through 2020 more than two dozen temporary tax breaks that had expired after 2017 with the new TRUMP tax laws (TCJA) effective 2018. Among those laws CONGRESS bought back to life: * Letting debtors treat … Continue reading

Every year millions of Americans make a New Year’s Resolution to finally get their estate planning done or updated to reflect current circumstances (live in a new state, the new SECURE Act provisions or perhaps need a multitude of possible adjustments). But sadly, each year most of these well-needed and very important resolutions never get completed. But EVERYONE already has an estate plan – EITHER the one you proactively had done with your personal wishes… OR the one your State … Continue reading

In the waning days of 2019, both the House and the Senate overwhelmingly passed the SECURE Act and President Trump signed it while flying somewhere on Air Force One (December 20, 2019). The new law’s name: Setting Every Community Up for Retirement Enhancement (SECURE) Act.  Effective 01/01/2020 there are 29 new provisions or changes to retirement that will affect retirees as well as a number of other Americans. Here are six of the most important changes that you should know: … Continue reading

ROTH CONVERSIONS   Although ROTH contributions and ROTH conversions do NOT save taxes today, they will save you taxes tomorrow as well as not cause your Social Security checks to be subject to taxation nor increase your Medicare Part B and D premiums! And there are NO RMDs either! If you think taxes must rise due to the growing Federal debt ($23+ TRILLION) and a total of $126+ TRILLION of unfunded federal promises made to the American people, then why … Continue reading

You may have heard that the Social Security COLA (Cost of Living Adjustment) for 2020 is 1.6%. That means the average American’s SS check will be $1,503 next year (that’s $24 up from last year’s $1,479 avg. check). The maximum SS check for those retiring at Full Retirement Age (FRA) in 2020 will be $3,011. Of course, for those who delay taking benefits after FRA can get 8% per each year of delaying until age 70. There is no advantage … Continue reading