Good news! The new CARES Act made several retirement-account (RMD) tax-law changes that can save you a lot of money. To take advantage of these changes, there are two totally-legal, powerful strategies that you can put to use. What are they? We’ll give you all the money-saving details when you read the full article. IMPORTANT: Be aware that the new rules apply only … [Read more...]
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COVID-19 Crisis Creates Silver Lining for Roth IRA Conversions
If you’ve ever considered convertingyour traditional IRA to a Roth IRA… Why? Because the financial fallout from the COVID-19 crisis has created a once-in-a-lifetime opportunity to do a profitable Roth IRA conversion. You see, you’ll be able to make the conversion at an affordable tax-cost and protect yourself against future tax-rate increases. You’ll get the whole … [Read more...]
COVID-19: New SBA Loans for Small Businesses—Maybe a Great Deal
___________________________________________________________I hope this issue of the Tax Reduction Letter finds you and your family in good health. Warmest good wishes at this difficult time from all of us at the Bradford Tax Institute.___________________________________________________________ I don’t have to tell you that the terrible COVID-19 virus pandemic has devastated … [Read more...]
Eight Answers to Questions About the SECURE Act
In late December 2019, Congress passed the “Setting Every Community Up for Retirement Enhancement Act” (SECURE). If you have questions about how the new SECURE Act affects your retirement and Section 529 planning, you are not alone. We’ve received many questions from readers of the Tax Reduction Letter that deal with the impact the SECURE Act will have on their retirement … [Read more...]
Top 8 Changes in the New SECURE Act You Need to Know Now
As year-end approached in 2019, all was not deadlocked in Washington. You see, on December 20th the president signed off on an important new law called the Setting Every Community Up for Retirement Enhancement Act of 2019, also known as the SECURE Act. The new law, explained in my new article, makes significant changes in how you can… Save money for retirementUse your … [Read more...]