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Happy New Year! Wow! There certainly was a lot of activity in the month of December above and beyond Santa’s visit! U.S. stocks rose nearly 11%, Congress extended the Bush tax cuts AND came up with a short term solution for estate and gift tax planning. We take a closer look at each of these activities in our first quarter 2011 newsletter. A strong fourth quarter rally, punctuated by a December sprint, turned an okay year for stocks into a very good one. The S&P 500 gained nearly 11% for the quarter and ended 2010 up 15%! Of course this is good news but as Littman Gregory points out in their year end investment commentary we shouldn’t become too complacent because structural risks do remain. We hope you find their comments and outlook insightful. On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Relief Act). The 2010 Tax Relief Act extends Bush-era tax cuts for two years, and provides significant estate and gift tax changes and alternative minimum tax (AMT) relief. Our friends at Akerman Senterfitt put together a nice summary and were kind enough to let us use it in this quarters newsletter. We hope all of you have a happy and healthy 2011!! Best Regards, Keith & Debbie
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