Prepare For Higher Taxes On Inherited IRAs
With the biggest change in the U.S. tax code in a generation signed into law less than six months ago, you might have thought you were safe from higher taxes for now.
Sorry, but a sweeping new law changing retirement investing tax rules was passed by the House of Representatives on May 29th. and it’s expected to be approved by the Senate. It also has the support of President Trump, so it is expected to become law.
Although the legislation may not be signed into law until late this year, it’s wise to consider how its enactment could affect your retirement savings and beneficiaries.
Waiting until the legislation is enacted may not leave enough time to adjust your plans.
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