There a lot of questions surrounding the new tax bill that is coming down from the Trump administration. These changes are planned to take affect in the 2018 tax season. Check out this article from Forbes to see what changes you can expect. https://www.forbes.com/sites/kellyphillipserb/2018/01/27/as-tax-season-kicks-off-heres-whats-new-on-your-2017-tax-return/#39b79aec23d3
You may have seen that the new Department of Labor (DOL) “Fiduciary Rule” came into effect on June 9th, 2017. The wide-reaching rule further defines what a fiduciary is to include anyone who helps an individual with retirement funds. What does this mean for you as a Fortress client? No changes. Fortress already is a fiduciary firm. This rule has no impact on our operations, practices, or advice. Rather, we welcome the rule because it makes the investment landscape more consumer friendly, which is good.