Consumer spending picked up in April: Weekly Economic Review & Outlook
Weekly perspectives on the economy and financial markets and our outlook of the week ahead.
2023 could be a really good year to fund a Roth account. Why? Because of low current tax rates and changes to how the standard deduction, tax brackets, and retirement account contribution limits are adjusted for inflation. The high inflation of 2022 means that in 2023 the standard deduction will be higher, and federal income tax brackets will be expanded. As a result, some people could be looking at a lower federal income tax bill this year, making contributing to a Roth account more efficient.
Succession planning is much more than just the act of selling your practice; there are many items to consider when planning the successful transition of your firm, like finding the right successor, client/relationship communications, receiving the proper value, and reducing taxes on the sale of your firm.