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Passing Shots

The Fifth Set Blog

Topics: 401k, Fiduciary, Roth IRA, Taxes, Traditional IRA

Four Strategies for Managing the SALT Deduction Cap

For those who live in states with high income tax rates like New York or New Jersey, you may have been impacted by the 2017 Tax Cuts and Jobs Act which limited the State and Local Tax (SALT) deduction to $10,000. Following are four strategies  …read more »

The SECURE Act – Congress passes significant new retirement plan legislation

In the final session of 2019, Congress passed and the President signed, the SECURE Act (The Setting Every Community Up for Retirement Enhancement Act), a significant piece of legislation that contains several important updates and changes for investors.  Among the most significant are the following:  …read more »

Getting to Know the Fifth Set Credentials – The Enrolled Agent (EA)

When an individual or business needs a tax professional, the credential most typically sought out is the certified public accountant (CPA). However, there is another, albeit less well-known designation, that also represents tax practitioner professionals authorized by the US Department of the Treasury: Enrolled Agent  …read more »

Five Last Minute Year-End Tax Tips for 2019

With the holiday season approaching and the end of 2019 right around the corner, we would like to highlight five last minute tax tips.  You have until the end of the year to tackle these tasks which can help maximize your tax benefits and improve  …read more »

Five Money Saving 2018 Year-End Tax Tips

As we approach the end of the year and begin making plans for 2019, it is an ideal time to take advantage of tax saving opportunities that are still available for 2018. Here are five ways to reduce your tax obligations before year-end. 401k/403b/457 Plans  …read more »