If you’re retired with roughly $5 million or more in net worth and $300,000+ of annual income, taxes still play a meaningful role in cash flow, flexibility, and long-term planning. The recent OBBBA tax bill doesn’t fundamentally change the tax system, but it does adjust incentives in ways that matter for retirees at this level.
Under the recently enacted One Big Beautiful Bill Act, a new limitation applies to itemized deductions for taxpayers in the top marginal tax bracket. This provision doesn’t eliminate deductions outright, but it does reduce their tax value in a way that can meaningfully affect high-income households.
Bonus depreciation is back! Our article touches on the OBBBA restoration of bonus depreciation, what qualifies, and how investors can use it to save on taxes and improve cash flow.
A look at how the 2022 year-end Omnibus bill affects your taxes and retirement.
Breaking down the 2022 Inflation Reduction Act in plain English.
As experienced advisors, we’ve compiled a brief guide to HNWI financial planning to outline the steps that should be taken to protect and grow your wealth.