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What will tax reform proposals mean for your clients?

Tax reform change is in the air, but It’s not yet clear what form it will take as president-elect Donald Trump takes office. Michael Kitces digs into the details of both proposals from Trump and House Republicans to give advisors a better understanding of how potential tax changes could affect their clients. See his post below from Nerd’s Eye View blog. Also, many advisors are concerned that sales of fixed-index annuities are expected to be exempt from the DOL’s fiduciary rule, according to Financial Advisor. Read the full story below.


Understanding The 2017 Income Tax Reform Proposals: President Trump Vs House Republicans

by Michael Kitces                                             Source: Nerd’s Eye View blog

With the Republican clean sweep of both the White House and both houses of Congress, momentum is building for 2017 to be a major year of tax reform, both for corporations, and for the individuals that financial advisors work with. Accordingly, in today’s blog post, we delve in depth into both the likelihood of individual tax reform itself, and the details of the proposals from both President Trump, and the House Republicans. In fact, a deeper look reveals significant differences in both the style of tax reform between the President and House GOP proposals, as well as the deficits they imply – which itself could actually prove a stumbling block to getting legislation passed.

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Advisors Wary Of Fiduciary Rule’s Annuity Exemption

By Juliette Fairley                                             Source: Financial Advisor

The Department of Labor is expected to make it easier for insurance agents to continue selling fixed-index annuities, but many financial advisors say allowing such an exemption defeats the purpose of the looming fiduciary rule. “It allows for what I believe is one of the biggest problems in the industry, which is people holding themselves out to be a financial planner or the like with limited licensing,” said Allan Katz, a financial advisor in Staten Island, New York.

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