Tag: Plan

Financial Planning Considerations Under Joe Biden’s Proposed Tax Plan

With the U.S. presidential election only a few weeks away, it’s timely to evaluate the details of Joe Biden’s tax plan, the potential implications and some strategies that might be worth considering.

Before we begin, it’s worth noting that even if Biden is elected, his tax plan becoming a reality would likely hinge on Democrats also gaining control of the Senate this November. And, even if that occurs, it could prove difficult to increase taxes if the 2021 economy is still fragile due to COVID-19. With that said, it is prudent to understand what the tax implications might be so we can evaluate which planning strategies could be beneficial in advance.

Income Tax Impacts

If you earn more than $400,000 per year, Biden’s income tax plan would negatively impact you in several ways:

  • Under Biden’s plan, the top tax bracket, which is currently $622,051 for married couples filing jointly

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Transamerica Grows Retirement Plan Business With Newly Created Pooled Employer Plans

BALTIMORE, Oct. 14, 2020 /PRNewswire/ — Transamerica announced today that the company has been selected to be a retirement plan recordkeeper of the Lockton Northeast (NE) Series pooled employer plan. Lockton is a global professional services firm and the world’s largest privately held independent insurance broker. Pinnacle, an NPPG Company, will serve as the third party administrator and NPPG Fiduciary Services as the Pooled Plan Provider (PPP). This collaboration is a new milestone in Transamerica’s pioneering history in pooled retirement benefit plans, encompassing nearly two decades of advocacy and specialization.

To support the new Lockton NE Series pooled employer plan, Transamerica will leverage its pooled retirement plan experience. Transamerica can offer a flexible plan design to each adopting employer in the pooled plan, enabling employers to customize their retirement plan’s design elements based on employees’ needs. Transamerica also offers specialized recordkeeping specific to each adopting employer in the pooled

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McConnell slates October revote on relief plan

For her part, Pelosi issued a statement again criticizing Trump for caring chiefly about the direct payments.

“A fly on the wall or wherever else it might land in the Oval Office tells me that the President only wants his name on a check to go out before Election Day and for the market to go up,” Pelosi said in a letter to her colleagues.

She defended her hardline position on a Tuesday conference call with fellow Democrats, claiming Democrats have more leverage than ever. But the risk of emerging empty-handed until next year appears very real.

To recap, talks on the latest potential round of COVID relief began in July, collapsed in August, and were revived last month. Last week alone saw Trump cause the talks to collapse on Tuesday, only to revive them heading into the weekend. They then cratered again on Saturday after Trump’s latest $1.8 trillion

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E-Commerce Economics Are Broken, Says Tech Startup Tradeswell. It Has A Plan To Help Fix Them.

Paul Palmieri was looking at various direct-to-consumer startups as possible investments for his venture capital fund when he decided the e-commerce economics didn’t add up.

“I definitely saw a lot of opportunity to invest in direct to consumer brands, but every time we would get close, we would look at it and say, gosh, the numbers are somewhat broken,” he said.

While the sales potential is great, the fees brands pay to what Palmieri calls the ecosystem of e-commerce enablers—for advertising, for keywords, for warehousing, for fulfillment—are destroying margins.

So instead of investing in a DTC brand, Palmieri decided to invest in starting a company that would help brands large and small master the new math of e-commerce.

The company, Tradeswell, emerged from stealth mode last week after beta

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Smart Sprinkler Irrigation Systems Market: COVID-19 Business Continuity Plan | Evolving Opportunities with Hunter Industries Inc and NxEco Inc | Technavio |

LONDON–(BUSINESS WIRE)–Oct 13, 2020–

The global smart sprinkler irrigation systems market size is expected to grow by USD 442.81 million as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 17%.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201013005853/en/

Technavio has announced its latest market research report titled Global Smart Sprinkler Irrigation Systems Market 2020-2024 (Graphic: Business Wire)

For the Right Perspective & Competitive Insights-Request Free Sample Report on Pandemic Recovery Analysis

Read the 120-page report with TOC on “Smart Sprinkler Irrigation Systems Market Analysis Report by End-user (Commercial and Residential) and Geography (North America, APAC, Europe, MEA, and South America), and the Segment Forecasts,

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Why Lifetime Gifting Should Be Central To Your Estate Plan

By Anna Davies

Right now, the lifetime exemption for gifts and estates is the highest it has ever been—$11.4 million for individuals or a $22.8 million joint exemption for married people. But this number isn’t permanent and could change. That’s why financial advisors are saying it’s a smart idea to put vehicles in place, like trusts, to enable seamless lifetime gifting. 

“Some people are waiting to do things based on how things land, politically, but that could leave them scrambling if things were to change,” said Rebecca Duguid, a senior vice president and client advisor at Whittier Trust. “The earlier you get the process started, the better.” 

Having vehicles in place now can give you the maximum flexibility in terms of gifting to kids and grandkids — and can also help your children and grandkids learn how to be wise stewards of your wealth. That’s because, while “trust fund

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McConnell says Senate GOP will vote on targeted relief, but Trump calls for big stimulus plan

  • Senate Majority Leader Mitch McConnell said Senate Republicans would vote on “targeted relief” with a focus on small business aid later this month.
  • “Our first order of business will be voting again on targeted relief for American workers, including new funding for the PPP,” McConnell said in a statement.
  • The statement carried few specifics and it was unclear whether the proposal would contain federal unemployment benefits or $1,200 direct payments for taxpayers.
  • Trump is increasing his calls for another large stimulus package ahead of the election, and it may put the president and Senate Republicans on a collision course.
  • Visit Business Insider’s homepage for more stories.

Majority Leader Mitch McConnell announced on Tuesday the Senate will vote on a “targeted relief” plan for people with an emphasis on small business aid shortly after they reconvene later this month. But that may put Senate Republicans on a collision course with President

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McConnell slates October revote on GOP COVID relief plan

Senate Majority Leader Mitch McConnell says that he’s scheduling a procedural vote on a GOP COVID-19 relief bill for next week

WASHINGTON — Senate Majority Leader Mitch McConnell said Tuesday that he’s scheduling a procedural vote on a GOP COVID-19 relief bill next week, saying aid to hard-hit businesses shouldn’t be held up by gridlock involving other aid proposals.

The Kentucky Republican says the first item of Senate business when the chamber returns next Monday will be a procedural vote on a scaled-back aid bill. Democrats filibustered a GOP-drafted aid bill last month and recent talks on a larger deal between Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi, D-Calif., fell apart this past weekend, probably for good.

“Democrats have spent months blocking policies they do

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Will Baker’s $171M Plan to Fight Evictions Be Enough?

Gov. Charlie Baker. Photo by Chris Van Buskirk | State House News Service

Expanded rental assistance, rapid rehousing efforts and streamlined application processes are cornerstones of a $171 million plan announced Monday by the Baker administration to keep tenants in their homes and support landlords after the state’s eviction moratorium expires on Saturday.

The plan represents an alternative to extending the moratorium, which Baker is authorized to do under a law passed earlier in the pandemic and is a path that many community activists and some lawmakers say is preferable for the safety of tenants struggling due to job losses and other COVID-19 pandemic hardships, but which landlord groups and a federal judge have warned may be unconstitutional.

At least 80,000 households in Massachusetts, including both renters and homeowners, will struggle to cover the costs of both housing and basic needs this month, the Metropolitan Area Planning Council concluded last

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William & Mary faculty pushing for reinstatement of eliminated sports, new strategic plan

William & Mary faculty members will continue their push for reinstatement of seven varsity sports proposed recently for elimination in a resolution to be introduced at a Faculty Assembly meeting Tuesday afternoon.

Suzanne C. Hagedorn, an associate professor of English at W&M said that she, Business professor Katherine Guthrie and Law professor Tom McSweeney have drafted a set of motions in consultation with other faculty that at least two FA members plan to put on the floor for discussion and debate.

The resolution calls for W&M President Katherine Rowe and the W&M Board of Visitors “to appoint a new Athletics Task Force in consultation with Faculty Assembly with significant representation of W&M faculty, staff, students, and the local community to create a new strategic plan for W&M Athletics.”

The resolution further addresses the rationale, process and lack of transparency some have complained about in the decision to cut the seven

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