PODCAST EPISODE 211: The 2021 Reconciliation Spending Bill & Its Impact on Your Retirement

ByPaul Adams

EPISODE SUMMARY

Topics Covered:

Topics Covered in Today’s Episode:
“CNN Article giving some detail to the spending set forth in the Bill”
by CNN

“Ways and Means releases list of tax provisions for budget bill”
By Journal of Accountancy

“House Democrats propose new retirement plan rules for the rich, including contribution limits and a repeal of Roth conversions”
By CNBC

“Hidden In The Reconciliation Bill: A Retirement Plan Mandate That Will Take Most People By Surprise”
By Forbes

“Update – Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy”
By The National Law Review

WHAT WAS COVERED

  • 00:00 – Paul Welcomes the show.
  • 03:50 – Reviewing the research for tax bill
  • 06:00 – Article Breakdown: “Giving some detail to the spending set forth in the Bill” by CNN & “Ways and Means releases list of tax provisions for budget bill” By Journal of Accountancy
  • 15:53 – Article Breakdown: “House Democrats propose new retirement plan rules for the rich, including contribution limits and a repeal of Roth conversions” By CNBC
  • 18:55 – Article Breakdown: “Hidden In The Reconciliation Bill: A Retirement Plan Mandate That Will Take Most People By Surprise” By Forbes
  • 30:36 – Article Breakdown: “Update – Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy”
    By The National Law Review
  • 40:15 – Closing thoughts.
  • 41:39 – Show ends, thank you for listening.

TWEETABLES

[Tweet “There’s more surprisingly different pages on this tax bill than pages of the cheesecake factory menu. #YourBusinessYourWealth”]

[Tweet “The second they start lowering that number [the max amount of contributions to your Roth]  means it’s going to go even lower in the future. It’s actually something we don’t really want to give any ground on #YourBusinessYourWealth”]

[Tweet “This would be the 2nd retroactive income tax assed, the last one was under the Clinton administration; it’s meant to not cause a bunch of upset in the markets with people trying to lock in capital gains. #YourBusinessYourWealth”]

LINKS

Article 1 – “CNN Article giving some detail to the spending set forth in the Bill” By CNN

Article 2 – “Ways and Means releases list of tax provisions for budget bill” By Journal of Accountancy

Article 3 – “House Democrats propose new retirement plan rules for the rich, including contribution limits and a repeal of Roth conversions” By CNBC

Article 4- “Hidden In The Reconciliation Bill: A Retirement Plan Mandate That Will Take Most People By Surprise” By Forbes

Article 5 – “Update – Tax Proposals of the House Ways and Means Committee: Reconciliation Bill to Target Trusts, Estates, and the Wealthy” By The National Law Review

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MUSIC CREDITS

Contains a sample of “King” by Zayde Wølf courtesy of Lyric House.

——————————————————————————————————————————-

Transcribed by https://otter.ai

This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation.

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PRODUCTION CREDITS

Podcast production and show notes by Greater North Productions LLC

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Paul Adams

Author

Paul Adams

CEO & Founder

As CEO and founder of Sound Financial Group Paul leads a team of financial professionals dedicated to helping clients define their financial goals then developing unique, tailored strategies to reach them. Paul tells his clients often that they should always make their financial decisions based upon indisputable math and independent scholarship, not based on media hype, hearsay, or trend.

Financial Advisor
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