Tax Alert: Your Weekly Update - Just Over A Week Until IRA Deadline

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Weekly Market Recap

This week the Federal Reserve (Fed) provided the minutes of their most recent March meeting. The Fed see the US economy "expanding moderately" with strong job growth somewhat offset by weaker exports because of the strong dollar. Internationally, the Canadian economy has weakened due to the low oil price, and Japanese consumer spending was sluggish. European growth remains steady, if modest. Outside of China, which is soft, several other countries in emerging Asia show strength. Overall, most Fed committee members voted to hold rates steady, with one member voting for interest rates to increase.

Importantly, this Wednesday, the US Department of Labor released revised rules with the aim of improving investment advice for those saving for retirement. Though the rules aren't expected to be fully implemented until 2018, we applaud the spirit of these rules in ensuring that retirement savings products put clients' needs first and avoid excessive commissions. These are principles that have always guided FutureAdvisor, but we hope that these new rules raise standards across the investment industry, ultimately leading to better retirement outcomes.

The tax deadline of April 18th is now a little over a week away. With it comes the deadline on 2015 IRA contributions. An IRA can be a tax efficient way to save for retirement by potentially deferring or eliminating tax on your savings within an IRA. As the deadline draws near we have some advice on whether an IRA makes sense for you and which type to consider here:
https://www.futureadvisor.com/content/resources/getting-started/portfolio-essentials/roth-ira-vs-traditional-ira

Notes:
Federal Reserve Minutes:
http://www.federalreserve.gov/monetarypolicy/files/fomcminutes20160316.pdf
Department of Labor ruling:
https://www.federalregister.gov/agencies/employee-benefits-security-administration

Disclaimer:
The views expressed are for informational purposes only and are not intended to serve as a forecast, a guarantee of future results, investment recommendations or an offer to buy or sell securities by FutureAdvisor. All expressions of opinion are subject to change without notice in reaction to shifting market, economic political conditions, and as subsequent conditions vary. The investment strategies mentioned are not personalized to your financial circumstances or investment objectives, and differences in account size, the timing of transactions and market conditions prevailing at the time of investment may lead to different results. This material may contain "forward-looking: information that is not purely historical in nature. Clients may lose money. Past performance is not indicative of future results. Investments in securities involve the risk of loss. Any tax strategies discussed should not be interpreted as tax advice and do not represent in any manner that the tax consequences detailed will be obtained. Clients should consult with their personal tax advisors regarding the tax consequences of investing.

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