Archive for July, 2008
Two issues immediately jumped out at me in this legislation.
Homeowners now have an above the line deduction for property taxes (maximum $500 single, $1000 joint). This is great for retirees who don’t itemize.
Starting in 2009, a rental unit that is converted to a personal residence will have its percentage of time as a rental unit [...]
Guaranteed Minimum Income Benefit (GMIB) are one of the ways that variable annuities are being sold. Unfortunately, I have yet to meet a single person who understood what they bought when GMIBs are involved.
The bold print talks about guaranteed 5% annual growth in the income base no matter the underlying performance. And the charge for [...]