> Home
   > Contact Us
   > Disclosure
 
Home
Wealth Management Services
Who We Serve
About Centricity
Client Center
Resources
Featured News
Articles Of Interest
Financial Briefs
Market Data
Contact Centricity
 
More Articles  Printer Friendly Version

 

Retirement Income Reality Check

With stocks closing today near an all-time record high, a good chance of an increase in Federal tax rates in 2021, and the deadline for end-of-year tax tactics closing in, this is a reminder to run a reality check on your retirement income plan.

The $1 trillion federal deficit, the soaring U.S. debt level to pay for entitlement, and changing political fortunes make it much more likely that income taxes will head higher.

Managing your tax bracket now — with the growing likelihood of a hike in federal income tax brackets — can lower your tax bill not just this year but next year, as well. This is especially timely for business owners with an interest in a pass-through entity, like an LLC, S corp, or a sole proprietorship.

The possibility of higher tax rates, along with the stock market's recent highs, presents an opportunity for individuals with a concentrated position in a single stock. With the end of the year approaching, this is a good time to consider taking a long-term taxable gain to lower your risk of something going wrong with that company or industry.

The Standard & Poor's 500, after closing at a record high on Monday of 3,122.03, closed the week at 3,110.29.


This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial or tax advice without consulting a professional about your personal situation. Tax laws are subject to change. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. No one can predict the future of the stock market or any investment, and past performance is never a guarantee of your future results.


Email this article to a friend


Index
Economists Expected Q1 U.S. Growth Of 1.6%; It's 2.6%! 
Stocks Close At New High As Business Owner Optimism Surged
Retirement Revolution Unexpectedly Is Boosting Economy
Coronavirus Scare Reveals The Nature Of Stock Market Risk
Leading Indicators Slightly Off Again
S&P 500 Breaks All-Time Record Again
Steady Economy Briefly Drives Dow Beyond 29,000
Why Stocks Shrugged Off Iran Escalation
A Spectacular Year For Stocks
A Case For A Bull Market In 2020
Good Economic News Again
An Unusual Constellation Of Economic Surprises
Longest U.S. Expansion Keeps Rolling
Find The Major Economic Trend Hidden In This Picture
Is The New Record High In Stocks Irrational?

This article was written by a professional financial journalist for Centricity Wealth Management and is not intended as legal or investment advice.

©2020 Advisor Products Inc. All Rights Reserved.
© 2020 Centricity Wealth Management | 515 Executive Campus Dr., Suite 100, Westerville, OH 43082 | All rights reserved
P: 614-392-5155 | info@centricitywealth.com |
Privacy | Form ADV | Disclosure | Contact Us | Home

Centricity Wealth Management, LLC is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Centricity Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Centricity Wealth Management, LLC unless a client service agreement is in place.