Some of our community have been asking for an update on the Build Back Better plan and the future for Mega Backdoor Roth’s and SALT Tax Caps.
It looks like Joe Manchin has torpedoed the bill and when Chuck Schumer puts it up for a vote in January, it might be dead on arrival.
That said, it looks like nothing is going to happen before year-end for sure.
THAT said, no matter what the current tax policy is and what financial planning strategies are – or are not – available, none of it is as important as doing the basics right.
Spend less than you make.
Save 25% or more of your income.
If you can do those two things, you can ignore what goes on in Washington.
