Are you aware of them?
The federal government offers some major tax breaks for older Americans. Some of these perks deserve more publicity than they receive.
A bill now in Congress proposes to alter some longstanding rules.
Most Americans are not saving enough for retirement, despite ongoing encouragement to do so (and recurring warnings about what may happen if they do not). This year, lawmakers are also addressing this problem, with a bill proposing big changes to IRAs and workplace retirement plans.
The Retirement Enhancement and Savings Act (RESA), introduced by Senator Orrin Hatch, would amend the Internal Revenue Code and the Employee Retirement Income Security Act (ERISA) in some significant ways.1
Your withholding may need to be adjusted due to the 2017 federal tax reforms.
You might get to deduct the mortgage interest premiums you paid in 2017 after all.
Federal tax reforms lead to new possibilities for these education savings accounts.
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