China Eases Tariffs
Most market indexes rose this holiday shortened week with the biggest gains in developed and emerging markets. However, the small company Russell 2000 index had modest losses. China announced a cut in tariffs, effective January 1st, on frozen pork, pharmaceuticals and some high-tech components. The 10-year Treasury yield fell to 1.879%. Crude oil rose to […]
Markets React to Good Data
Stocks rose this week on good economic data. Despite the impeachment, congress completed several important pieces of legislation. Spending bills were passed to fund the government through September of 2020. Congressional leaders agreed to extend a number of tax breaks including for biodiesel. They also agreed to revive a more generous medical expense deduction. Notably […]
2020 Numbers
Click on the link below for the 2020 key tax numbers. Many items have been adjusted for inflation. 401k contribution limits have increased to $19.500 under age 50 and $26,000 with the over age 50 catchup. Please call us if you have any questions. 2020 Numbers Best Regards, Loren C. Rex, CFP®, AIF®, MA […]
Saver’s Credit
Tax Credit for IRAs and Retirement Plans (Saver’s Credit) What is it? The Economic Growth and Tax Relief Reconciliation Act of 2001 made significant changes to IRAs and retirement plans. One provision of the act allows some low- and middle-income taxpayers to claim a partial, nonrefundable income tax credit (the “saver’s credit”) for contributing to certain tax-deferred retirement savings […]
Finally, a Phase 1 Trade Deal
Both the U.S. and China have announced a phase 1 trade deal. While not all the details have been released, the following has been released: The U.S. will not impose the additional tariffs scheduled to go into effect on 12/15. The U.S. will also reduce the tariff rate from 15% to 7.% on 120BN of […]
