Retirement changes for 2018

Steve & Ted
Tuesday, January 23rd

Moneytracker Don Grant talks about how the new tax bill could affect your retirement.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

646. Very big thing. Government shutdown was over for now seeing Wichita police captain faces charges after seventeen age. Revelry during youth basketball game. Big earthquake. Near Kodiak Island Alaska. Pretty big thing Stephen dead on Kate in a sense. Sandra right now out in traffic well the traffic volume was really are starting to make yet seen Tim yeah. Heavier traffic when the 1935. Of Brent north junction. Heavier traffic again near the airport on Kellogg so because then I parkway over the air traffic updates from taken SS radio I'm Jeff Jesus. Sunny today with a high of 46 degrees here tonight the Obama blew 24. Wednesday sunny and warmer tomorrow's high 54. Now partly cloudy 25 degrees northwest wind at nine. Miles per hour. Janus has weathered rock you've by the monarch. Loaded one of the best suburban bars in America by the verbal rebuke. Located at 579 less Douglas in his story delay no. The monarch. 647 now Steve intended in the morning Ted or. You say if I told you today is national pie day. I'd say bring it on bring it on where is it what are where's my fork in my work late where's our prize. May be our manager Jacqui wise is listening right now bring in a big old banana cream High Court. Coconut cream or are French silk Lohan. When got to the outside world Ellis of the top eight. The big survey in the top eight pies in the surfing according to Luke according to the survey. Actually don't even mention who it is but death. We're gonna we're gonna share those with you. In just a moment aren't I wouldn't wanna tell you that my favorite part of done grant being here aren't I don't let that identified by a scholar as he is. Rationed for Rosie the riveter the view of the iconic female World War II factory worker or has died in Washington State. The New York Times reports Naomi Parker freely died Saturday Longview she was 96. Multiple women have been identified over the years as possible models for Rosie. But a Seton Hall University professor and Tony sixteen focused on friendly as a true inspiration. James. Of a moment flexing with a caption that we can do it iconic poster man Freddie was born in Tulsa Oklahoma. After the Japanese attack on Pearl Harbor she went to work of the naval air station in Alameda. Among the first women to work to do war were there. And it Obama my my mother passed away in December at the age of 96. And one of the things we pointed out. And eulogy or whatever was affected she came. To Wichita from the larger area at the start of world war two and got a job a beach. As an electricians assistant. Because she date to a neighbor test on tools and cheat cheat anymore. The names of more tools in the guys we're in the test scenery she had been a great story she had been open for you there my grandkids that you demand branded helper in the garage even. And she knew what she was so she was really not a while she was a rose there that are. I mean it just a female worker during rove or other up so it. Hefty gains for energy and technology companies helped US stocks set more records Monday drug makers. Announced two major deals worth about twenty billion dollars in smaller company stocks climbed. After the senator reached a short term deal to end the government shutdown. The Dow rose 143 points the NASDAQ ended at 72 points the S&P picked up 23 points. President Donald Trump Monday approved tariffs. On imported solar energy components and large washing machines. In a bid to help the US manufacturers. The Chinese are already squeal and about that what. Puerto Rico to reverse from our previous administrations. Have cut tariffs you know I have a little leery about terrorists because of where you study your history. About the Great Depression the word terror comes up quite profit and through a process more for things and at least initially. Puerto Rico's governor says he is privatizing the island's government owned power company following decades of mismanagement corruption and black out or comes your answer. Monday's surprise announcement comes as nearly 30% of power customers remain in the dark more than four months after hurricane Maria. So we were wondering what the hell is wrong with their their system down their well. Apparently it's really crooked. Right 615 now Stephen Ted in the morning done grant Ciampi the money tracker. Retirement changes for 2018. Dot there's a few of you don't wanna pay attention to here I think user. You know the recent tax bill that passed by Republicans and was signed by the president made a change your return. Are meant to bid the manner in which you'd donate to charities and even where you decide to live in retirement could be affected by the tax changes and fortunately. We're still trying to figure out exactly how our lives may change it could take months to realize the tax bills effect. Well changes in the standard deduction may eliminate your need to itemize deductions. The standard deduction for couples moves up from just north of 121000 bucks to 24000. Dollars. Well if you itemize your taxes before particularly to take advantage of terrible donation right jobs. The threshold has just dropped jumped dramatically to 24000. Dollars. So unless you have a load of you know of of write offs. You may consider doubling donations every two years. To breach that threshold so you can get that deduction. Where you live may become an important factor to taxation the new tax laws. Cap deductible load the local state and property taxes at 101000. Dollars that means. If you live in a high tax state either for real estate or income tax and act could mean you're a vacation home someplace. Your local taxation right off against federal taxes may essentially increase your tax liability. Now if you move you may be able to lower that tax liability and stay within fold deductibility ranges. Lower corporate taxes from 35 to 21%. May encourage large companies to hire more employees. Hasn't really happened yet but it's starting to seem like it's hard to trickle down. Puerto possibly improve the lives of current employees through enhanced benefit programs that we've seen a bit of that. Will need to wait and see how that pans out of course. On the other side of the coin the cost of employee benefits are tax deductible for corporations. Under old tax laws they can write off those expenses at 35%. Now they'll have a just a 21% right off. Every company will have packed in different tax liabilities. But we're optimistic so it'll be a win win for employees and the business most households will see a reduction in their tax rates that means retirees who can control their income. Could work to keep income within the confines of lower brackets. Taking distributions for Ira as well before age seventy and a half. Might be wise as it would reduce the amount of your tax deductible accounts so. You're armed he's when you're required to take him will be lower. Thus reducing your tax liability in the course of you have any questions you give me a call number 634. Tutu to to deny some law courses is it as soon. Taxing you tax accountant he's he's still trying to figure this out kind of figured out you know beat India is yet to big clients that. They could have a real impact so yes definitely and you got to isn't planning yup that's stuff done it's in national pride in it and we have come up whoa from this web page date to there was a nice they tell me there was enough over blades Steve the third Ted is just snickering over here I think Nancy's the same in his mind's on the same thing that I see and that's with us with a couple cream pies just. You know just smashing public allies help help boldly I know where I'd smashed my or just masters ten. In this studio all of ask you dog what you get when your favorite pot. Well I tell I think I talked about is where my ground line that's been passed on down makes this this and you have on your side event while these are meander unity of physical. Your crotch. Yeah I remember you tell us about the oh man that's like that's only got two that's nonsense that really is good with whipped cream vicious violent when our dream mr. Roberts not a list okay the popular right. I hit I'm and a black bottom line black bottom. You get to be honest does that shock and among them now now now that Q1 Q oh yeah yeah yeah 09 key lime pies not green if it's green some draw. A go for a coconut banana cream all right I'm gonna give to you here and number eight a lawless blueberry 4%. Classic number seven strawberry 5% number channels for a number six lemon meringue 6% and not marrying number five cherry only 8%. He kind of got in fourth and flew it 813%. Just beloved in the south enough sugar free through chocolate 16% that is good. Regardless of blue pumpkin came in at number 270%. Of course were in the United States of America so. Apple got number one at 19%. I do see national pie day. Celery big fat Apple's hot seller it's like three inches high and there a law. With little cheddar cheese on top maybe some I think ice cream isn't what you're talking you know more about pie than you know about finance. Good point if it invested my future's here like you know keep. All right thank you guys 650 are either dead guy at 7 o'clock top of the hour all the news received intended got a big earthquake. Near Kodiak Island in Alaska gonna tell you about that coming up Stephen dead on tape and assess.