WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

Looking forward to attending my first GOP Tax Act CPE seminar later this week.  I will post about what I learn after it is over.

* As part of its “Best States to Retire 2018” report KIPLINGER gives us “All 50 States Ranked for Retirement”.  The “slide-show” (52 “slides”) presents the states alphabetically and not in ranking order.

Kiplinger “ranked all 50 states based on financial factors critical to retirees, including living expenses, tax burdens, health care costs, household incomes, poverty rates and the economic wellness of the state itself.”

My former home state of NJ is #47 – not last on the list as in past years probably because of the gradual increase in the Retirement Income Exclusion.  NY is #50.  My current home state of PA is #14 – so I made a good move in 2012.

* Jason Dinesen makes a good point that apparently needs constant repeating when he states the obvious in “Turning a Profit is Not a Bad Thing” at DINESEN TAX TIMES.

The point (highlight is his) –

“They spent $7,700 to save $1,700 in taxes -- BUT THEY ARE STILL IN THE HOLE A NET OF $6,000 OF NEGATIVE CASH FLOW.”

How many times do I have to say this – taxes are only pennies on a dollar.  They may be a lot of pennies – but rarely more than 50.

* A recent real-life situation with a wealthy client underscored the lesson from this 2-year old post from Tony Nitti at FORBES.COM that also bears repeating - “IRS Increases 'Marriage Penalty,' Unmarried Cohabitants To Get Twice The Mortgage Interest Deduction”.

* Speaking of FORBES.COM, TaxGirl Kelly Phillipe Erb tells us “IRS Makes It Easier To Research Charities”.  

She is talking about “Tax Exempt Organization Search (TEOS)”.

* Anna Bahney explains “Why you might want both a traditional 401(k) and a Roth” at CNN MONEY.

THE FINAL WORD

Life imitates art. 

A while ago DC comics reimagined Superman’s chief villain, evil genius Lex Luthor, as a billionaire who becomes President.  Did they have a window into the future?

The big difference is that Donald T Rump is an ignorant self-absorbed reality tv buffoon and is not, by any stretch of the imagination, a “genius”.

TTFN