Kiplinger

How to Buy Out Your Retirement 'Business Partner' - with a Roth Conversion

We've all heard the saying, "There are only two guarantees in life: death and taxes."

With that in mind, let's discuss the tax law that was passed under President Trump -- the Tax Cuts and Jobs Act of 2017. This law has changed the rules for at least a few years. Essentially, it created two tax cuts -- one for businesses, the other for individuals and couples.

The big difference between the two is that one is permanent, and the other is temporary. Can you guess which is permanent?

If you answered individual, you guessed wrong.

The tax cuts for individuals will expire in 2025. One bit of good

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