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Revision as of 08:01, 17 September 2024

As the real estate market began to slide three years ago, my wife and i also began to sense that we were losing our alternatives. As people lose the value they always believed they had in their homes, their options in remarkable ability to qualify for loans begin to freeze up too. The worst part for us was, that we were in real estate business, and we got our incomes to help seriously drop. We never imagined we'd have collection agencies calling, but call, they did. Your end, we had to pick one of two options - we could apply for bankruptcy, or we had to find ways to ditch all the retirement income planning we have ever done, and tap our retirement funds in some planned way. As may also guess, the latter is what we picked.

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To cope with the situation, federal, state and local governments are raising tax. It doesn't matter if Republicans or Democrats are typically in control with the particular govt. Everyone is doing that it. It might be a sales tax increase, it can be a gain income taxes or even property income tax. The only clear thing is tax rates are planning up as well as are not kicking in till January 1, 11.

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