Tax Reform!

Can you imagine anything more exciting?

Ok, maybe not the most titillating subject in the world, but it could impact your retirement, so we need to talk about it!

We’re covering how Tax Reform will:

  • Reduce the number of taxpayers who itemize from roughly 30% to fewer than 10%.
  • Double the Standard Deduction to $12,000 for individuals and $24,000 for married couples
  • Cap deductions for state and local taxes (SALT)
  • Eliminate most miscellaneous itemized deductions (Including financial advisory fees!)
  • Change the deductability of medical expenses
  • Elimination of Roth IRA recharacterizations
  • Change 529 College Savings Plans
  • Change the deductability of charitable contributions
  • Double the Estate Tax guidelines
  • Eliminate the Individual Mandate from Obamacare

Stay tuned in 2018, where we plan on bringing laser-focused retirement content including:

  • Live webinars
  • Multi-part episode deep dives on Health Sharing Ministries and Becoming a Consultant in Retirement
  • YouTube!

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Bonus: If you listen to the very end, I’ll share how foster care has recently changed our lives. 

Sources:

Individual Tax Planning Under The Tax Cuts And Jobs Act Of 2017

Tax Reform Accomplished: How Does the Legislation Affect Investors and Businesses?

What You Need to Know About The Tax Act 2018