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American Taxpayer Relief Act of 2012

On January 2, 2013, the President signed the American Taxpayer Relief Act, thus ending the nation’s brief stint over the “fiscal cliff”—a confluence of expiring Bush-era tax cuts and the imposition of scheduled spending cuts—but not the national debate over revenue and spending issues. The Act increases taxes for high-earners as well as trusts, and [...]

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Politics and the Fiscal Cliff

It is more difficult to plan for retirement and income taxes when so much uncertainty swirls around what the tax laws and rates will be. Although the January 1, 2013, deadline fast approaches, decisions to change the scheduled rate hikes are uncertain. Further complicating the situation are: -The federal debt:  The $16.394 trillion federal debt [...]

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Converting to Roth IRAs

Now may be a good time to convert a traditional IRA to a Roth IRA- as increased tax rates in 2013 would mean that the income tax costs from Roth conversion would be higher next year than in 2012. There are many advantages of a Roth IRA. In particular, a conversion may be useful because, [...]

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