The most recent annual survey by the Investment Company Institute ("ICI") shows mutual fund shareholders' willingness to assume investment risk has not rebounded since the 2007/2008 financial crisis. John Sabelhaus, ICI Senior Economist and survey co-author noted, "Nearly all mutual fund-owning households reported being focused on retirement saving and three-quarters of them reported that as [...]
Proposed legislation from our friends in the House and Senate: HR 5318 (The Small Business Investment Penalty Relief Act of 2010) would waive the 10% penalty on early distributions from retirement plans if the funds were used for small-business investments. The bill is similar to HR 3612 and HR 3390. S 3720 and HR 6099 [...]
The Labor Department reported CPI fell 1.3% over the past 12 months. So much for worrying about inflation! As a result the IRS announced in Revenue Procedure 2009-50 that tax rate brackets and various tax benefits will remain unchanged or change only slightly for tax year 2010. Highlights include the following: The value of each [...]