Lifetime income? Tax deferral? What you should know about annuities

  Whether it’s lifetime income, tax deferral or the prospect of protection from falling markets, an annuity can sound like a good idea for many investors. But clients ought to bring plenty of questions and some skepticism to the table before they commit. “We know that there are people in this industry who have annuities in their bag, and if you have a hammer, everything looks like a nail,” said Skip Schweiss, managing director of retirement plan solutions and advisor … Continued

Unvaccinated teen who sued over ban from school contracted chickenpox; his appeal is still pending

  A Kentucky teen banned from his high school because he didn’t get vaccinated for chickenpox can return to the classroom, but the reason doesn’t stem from his religious freedom case. Jerome Kunkel, 18, can return to class because he contracted chickenpox, he won’t be contagious and he has immunity, his lawyer, Christopher Wiest, told several publications. The Washington Post reported that Kunkel returned to class Monday. Other publications with stories include the Cincinnati Enquirer, NBC News and CBS News. … Continued

Less estate tax planning may be better for older rich clients: Tax Strategy Scan | Financial Planning

  Less estate tax planning may be better for longer-living richThanks to longer retirement horizons, rich households may benefit from doing less tax-related estate planning, experts told Bloomberg. “People used to do a lot of wealth transfer planning when they were in their 60s, and I’m seeing people waiting longer to focus on transfers of wealth to the next generation or generations,” according to Jessica Galligan Goldsmith, co-managing partner of Kurzman Eisenberg Corbin & Lever. They’re not as willing to … Continued

Yes, there is a fact-based argument regarding graduated income tax

  Anyone who pays attention to state government knows Illinois’ fiscal system is a hot mess. Illinois has a huge — as in $8 billion plus — accumulated deficit in its General Fund. Not good, considering over $9 out of every $10 of spending on services goes to the four core areas of education, health care, social services and public safety. On top of that, Illinois is also one of the most notoriously unfair taxing states in the nation. The … Continued

Tax Day: The Best Single Change to the Tax Code – Bloomberg

VERY INTERESTING READ The Tax Cuts and Jobs Act of 2017 left some Americans celebrating their gains, others decrying losses, and a good chunk of the nation unsure of what to think, actually. That’s to be expected – it will take time to understand the true impact of such sweeping changes. For Tax Day, we posed a simpler question to our columnists: What single change in tax policy would do the most good for the nation? They offered the following … Continued