J. Hagan & Warren Wealth Advisors
Protecting Your Wealth
By: Jeff Reeves, Special for USA TODAY Increasingly, the Internal Revenue Service has been chasing the big tax cheats and top earners to uncover missing tax revenue. But don’t think you’re immune to an IRS audit just because you’re a middle-class working stiff. Often, a simple mistake or an honest deduction in an area rife [...]
“I have read the bill and can’t find the spending cuts, even with an electron magnifying glass,” complained Representative Trey Gowdy of South Carolina, a Tea Party Republican, to the New York Times after Congress passed its fiscal-cliff-averting legislation. Gowdy might have fared better if he’d used an electron microscope, but he was certainly [...]
Why Seniors Face Retirement ‘Perfect Storm’ in 2013 An estimated 7 million Americans will reach the age of 65 by the start of 2013, and many will no doubt be thinking about retiring. But even if falling off the “fiscal cliff’ is avoided, some financial experts are warning anyone thinking about trading in their paycheck for [...]
The Internal Revenue Service isn’t usually a place that retirees turn for help with their financial planning. But it turns out the agency’s rules for required withdrawals from retirement accounts could provide a framework for retirees trying to calculate how much of their savings they can safely withdraw every year and minimize the risk of [...]
by Robert P. Seawright The so-called “fiscal cliff” – a term coined by Federal Reserve Chairman Ben Bernanke – refers to the combination of tax increases and spending cuts scheduled to be implemented automatically in January, 2013 without peremptory Congressional action. As things stand now, the payroll-tax holiday will end, which means a tax increase [...]
There has been such a lot of talk this election year about tax changes and potential tax plans that we felt it was important to post the actual current marginal tax rates. The first thing you might notice is that there is no current rate for $1,000,000 or more for AGI (Adjusted Gross Income). There [...]
Key Tax Issues to Watch Post-Election Bischoff: These eight tax matters could see big changes — depending on who wins the White House. Whatever the outcome of the presidential election on Nov. 6, the next Congress and president will face a pile of unfinished tax business. Some of this stuff has been lying around since [...]
For those weighing what to do with the assets they have accumulated over a lifetime, the next few weeks may be time to make the final call. That’s because the current federal tax exemption on estates and gifts is set to roll back on Jan. 1, 2013, from $5.12 million to $1 million—the same level [...]
High earners will be hit by tax hikes as the costs of ObamaCare kick in on Jan. 1. Here are four strategies for softening the blow. Basing investment decisions on forecasted tax changes is about as surefire a strategy as asking the Ouija board for stock tips. But whether the Bush tax cuts are allowed [...]
Thanks to the so-called Bush tax cuts, lots of folks qualify for a 0% federal income tax rate on long-term capital gains and dividends. You read that right: 0%. Even if your income is too high for you to benefit, you may have children, grandchildren or other loved ones who can. However, the 0% deal [...]
