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New August 31 Deadline To Return Required Minimum Distributions

There is not necessarily a right answer, but you want to consider what would be a tax rate that would cause you to want to liberate money from your IRA. This is not a computation you can do by just looking at the rate table. Reilly’s Sixth Law of Tax Planning – Don’t Do The Math In Your Head. The income tax is full of all sorts of thresholds and phaseouts that might affect your decision.

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Round Up Of My Student Loan Coverage

Round Up Of My Student Loan Coverage

I started covering student loans as part of my Occupy Wall Street coverage in 2011.  The coverage was from a big picture policy viewpoint.  I have now taken up a different approach.  I am going to study student loans from my viewpoint as a tax planner.  Frankly, I agree that the system is kind of screwed up, but so is the tax system, which accounts for Reilly’s First Law of Tax Planning – It is what it is.  Deal with it.

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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.