Health & Fitness
Raising the Federal Debt Ceiling, Corporate Jets, and Beneficiaries
Raising the Federal Debt Ceiling, Corporate Jets and Beneficiaries
Raising the Federal Debt Ceiling has definitley been a HOT topic and will hopefully be resolved in the next 1 to 2 weeks. We will probably see some tax changes and one that has been mentioned is changes in itemized deductions. We will do our best to keep everyone updated on any changes that may occur so if you'd like to stay in the loop, feel free to visit our website at www.mjbakercpa.com and sign up to receive our email blasts.
They will also be looking into corporate jets used for corporate travel. Get a glimpse of our fabulous corporate jet when you view the attached podcast!
It is also a great time to to re-visit your beneficiary designations on IRAs, 401k's and Life Insurance policies. Often times the wrong names are listed and this may mean money going to the wrong people. Having the correct beneficiaries can also help avoid probate and minimize state taxes.