What New Washington Leadership Means For Your Money

Today Richard Oring of New Century Financial Group and Jag are joined by Bill Cass, Director of Wealth Management Programs at Putnam Wealth Management in Boston.

With Democrats now in control of the White House, and both houses of Congress, we've received many questions from clients on what that will mean for taxes going forward.  This is one of Bill's many areas of expertise.   We look at the the pending COVID relief bill, what can be passed, and what may be done through the process of budget reconciliation - Bill breaks it all down in an easy way to grasp.

After we get through COVID relief, the Biden tax plan will likely come into focus.  Bill and Rich cover what may happen with corporate taxes, FICA, and personal taxes as well.   And how do capital gains charitable giving, and the alternative minimum tax figure in to the math?   Also, how might estate taxes change?

Finally, could we see an extension of some aspects of the CARES Act in 2021?  How might that, and the current state of the market affect your RMD's?  Is it a good time to look at a ROTH conversion?

Resources:
Putnam Wealth Management Website (and Bill's Blog):  https://www.putnamwealthmanagement.com/

Charts:
Should I consider doing a Roth Conversion? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EZ-Wxah3Rx1Bo4bmHcxZkx4B59SI1iaEFkBVIDBjcfU3ig?e=bOPjKl

Can I make a backdoor Roth Contribution? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EUV0lLN6I4ZKqaC1ttcGR4sBjddnlvrKJhpE79stzmghfQ?e=BK7lQ6

Can I make a MEGA Roth backdoor Contribution? https://newcenturyfinancialgr-my.sharepoint.com/:b:/g/personal/roring_ncfg_com/EbknGLg50QhEvTHpDJlJJscBYqwKogWXPSO-WnGLoti5Kw?e=xOk0HK

Contact Richard Oring at New Century Financial Group:
New Century Website: https://www.ncfg.com/
Call Rich: 609-924-2049, x126
Email Rich: [email protected]
Address:  One Airport Place, Suite 3
                      Princeton, NJ 08540

Securities offered through Royal Alliances Associates, Inc. (RAA), member FINRA / SIPC.  Investment advisory services offered through New Century Financial Group, LLC RAA is separately owned and other entities and/or marketing names, products or services referenced here are independent of RAA.

Branch Office One Airport Place, Suite 3, Princeton NJ 08540 Phone: (609) 924-2049

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