Mid Week with Day & Ennis

A leaked tax-plan draft reveals surprising changes from Biden’s original proposal. Joseph Zeballos-Roig and Juliana Kaplan of Business Insider tell taxpayers what to expect. We’re in the weakest season for stocks. Will their performance be different this year? Bryce Coward tracks 5 market divergences that can forecast the results. A back-door Roth IRA can be a tax saver for high-income investors. But there are a few caveats, as Ben Mattlin explains in Financial Advisor.

A Leaked Tax-Plan Draft Shows Many Tax Increases Not As Aggressive As Biden Proposed — House Democrats are poised to propose hitting large firms and the wealthiest Americans with a spate of new tax increases that would raise $2.9 trillion in tax revenue. Still, many of the increases are not as aggressive as what President Joe Biden originally laid out earlier this year in his push toward a fairer tax system. Read more..

5 Divergences In The Stock Market To Keep An Eye On This Fall — With the S&P 500 up nearly 20% and international developed stocks up 13% year-to-date, the markets are having a banner year so far. But, we are squarely in the weakest seasonal months of the year (September and October) and we are starting to see the first signs of divergences between stocks and variables that are related to stock market performance. Read more…

How The ‘Backdoor Roth IRA’ Can Benefit Some High-Income Clients — For high-income earners, Roths present a problem: You cannot use them if your modified adjusted gross income exceeds $140,000 in 2021, or $208,000 for married couples who file jointly. Fear not. The “backdoor Roth IRA” is a legal workaround that enables high-income investors to sidestep that restriction. There are, however, a few caveats. Read more…


John R. Day, Bill Ennis, Stephanie Hall, and Matt Heller

Disclosure – The articles mentioned in Mid Week with Day & Ennis are for information and educational purposes only. They represent a sample of the numerous articles that the firm reads each week to stay current on financial and economic topics. The articles are linked to websites separate from the Day & Ennis website. The opinions expressed in these articles are the opinions of the author and not Day & Ennis. This is not an offer to buy or sell any security. Day & Ennis is under no obligation to update any of the information in these articles. We cannot attest to the accuracy of the data in the articles.

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