Build Back Better Act (BBB) UPDATE!

If you missed our Nov. 12th update, you can read it here. These are the latest updates as of today: CORPORATE TAXES A 15% minimum tax on corporate book income. This would only apply to corporations with that report at least 1 BILLION in book income to shareholders. Clearly , companies that could fit this […]

BSMG Tax Updates 2021

The taxation parts of the HR 5376 (President Biden’s “Build Back Better Act”) have changed dramatically over the last couple of months.  This is a result of the back and forth negotiations between the “moderate Democrats” and the “progressive Democrats”.   The latest Legislative Text of the House bill targets extremely profitable corporations and extremely […]

Pre-59 1/2 Substantially Equal Periodic Payments (SEPP) from an IRA to Increase Income and Fund Insurance

Generally, taxable withdrawals from non-qualified deferred annuities before the participant attains age 59 ½ are subject to an additional early withdrawal penalty tax. Learn more about avoiding this penalty and helping your clients close an income gap.   The Scenario:   Within the past year, Ted Eller was let go by Acme Consulting after working […]