Breaking news

[jfoxcpacfp]

Breaking news from Nerds Eye View (Michael Kitces): President’s Budget Proposes Elimination Of Backdoor Roth, Stretch IRA, and Step-Up In Basis At Death. More here 

[madhandles]

Thanks for the update @jfoxcpacfp

[Zaphod]

Lots of stuff in there. Agree most unlikely to pass, and unlikely to pass full fanged, but its on the radar. Especially Roth harmonization, seems easy to pass as just "making it equal among a type" idea without ruffling much feathers.

[jfoxcpacfp]

Zaphod wrote:

Lots of stuff in there. Agree most unlikely to pass, and unlikely to pass full fanged, but its on the radar. Especially Roth harmonization, seems easy to pass as just “making it equal among a type” idea without ruffling much feathers.

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I agree. Many of the proposals are devastating on their own. No basis step-up for non-spouses? We'll need a whole new bag of tricks for small business succession plans.