For taxpayers who are relying on their retirement plans on a month-to-month basis for living expenses, the expiration of the suspension won’t be an issue. For those who had extra cash on hand, however, it could provide something of a windfall this tax season.
When it comes to protecting your assets, minimizing your tax liabilities, and securing your clients' legacy, financial and estate planning should always be a joint consideration. An integrated approach ensures you have a plan to preserve and grow their wealth while providing peace of mind that their affairs will be managed according to their wishes.
More Americans are living paycheck to paycheck, largely because lower-income earners spend most of their money to cover essentials.