Tax season is right upon us, and that means you need to know what has changed during the 2016 tax year, and what to anticipate for the 2017 tax year and beyond.
With Donald Trump as the new president in the White House promising major tax changes, the question becomes: What are the changes he has promised, and how would they affect your 2016 filing, if at all?
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Over the past 30 years, interest rates have been on a downward trend. The Federal Funds Rate, a key influencer of interest rates in the U.S. economy, hovered around 8.75% in December of 1988. Since that time, it has fallen significantly, with the rate dropping to a range of 0% to 0.25% in the wake of the Great Recession due to the Federal Reserve’s efforts to stimulate spending in a diminished economy.
All of that is about to change.
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It’s been just a short time since Donald Trump took the oath as 45th President of the United States, and already there has been a lot of debate around how he will impact the lives of average Americans in terms of jobs, economy, taxes, investments, and more.
Whether you are a Republican, Democrat, Independent or indifferent, you may find yourself wondering how the Trump presidency will affect you, your family and your investment strategy. Will this new president make any unprecedented changes that will profoundly impact your financial future, for better or for worse?
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Achieving your financial goals and obtaining the retirement lifestyle of your dreams takes careful financial planning.
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You might be a rock star when it comes to running your own business or advancing your career, but that doesn’t cut it when it comes to handling your personal financial planning and your investment portfolio management.
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