In order to help offset the $3.5 trillion domestic investment plan, House Democrats are proposing tax hikes in several areas. See below for some of the highlights: Increase the top corporate tax rate to 26.5% Increase the top individual tax rate to 39.6% 3% additional tax surcharge on individual income above $5 million Increase capital…

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For many American families with children, the Treasury Department started depositing money into their bank account starting in July. What is this new money? Well, the American Rescue Plan (passed earlier this year) expanded the child tax credit from $2000 per child* to either $3,600 (for kids under 6) or $3000 (for kids over age…

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Retiring takes a lot of hard work, saving, and discipline. However, if you chose to retire in Georgia, there are some great tax benefits that make the transition to retirement a little cheaper and easier. Here are the main benefits of retiring in GA: GA Retirement Income Exclusion: This allows GA taxpayers (age 65 and…

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The SECURE Act was recently enacted by Congress. There are several new rules pertaining to retirement such as new Required Minimum Distribution (RMD) ages, inherited IRA provisions, and accessing your IRA money for certain expenses. One of the planning opportunities that arises with the new law is potentially doing more Roth IRA conversions for retirees.…

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