Given the likelihood of increased income tax rates, it's important to review financial, retirement and estate-planning objectives with your clients
For decades, the United States had a top marginal tax rate as high as 50, 70 and even 90 percent.1 As a matter of fact, for the past 50 years there have only been five years (1988 to 1992) when the top marginal tax rate was less than the current 35 percent tax rate. Considering the cost of the stimulus, soaring U.S. government debt, a $3.72 trillion federal budget, a projected record-breaking $1.6 trillion deficit, expiring tax cuts passed in 2001 and 2003, and proposed tax legislation, ...
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