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Legislation approved by Congress last week to avert hundreds of billions of dollars in tax increases and spending cuts may turn out to be the easy part of addressing the country's fiscal challenges. By the end of next month,
The Senate's decision to lift restrictions on Roth 401(k) conversions will be a boon to select individuals — those who can afford the tax bill now and whose employers have a Roth plan in place. A key to the American Taxpayer
The patch ends here. As part of the fiscal cliff negotiations, Congress agreed to boost the level of alternative-minimum-tax exemption retroactively for 2012 and to index future exemption levels to keep pace with inflation.
Financial advisers can cheer on behalf of some of their clients — individuals with annual income below $400,000 and couples below $450,000 — but they shouldn't cheer too loudly or too long.