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Obama's Budget Threatens Retirement Tax Breaks

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Ancients studied animal entrails. Later, people consulted tarot cards, tea leaves and crystal balls. In short, there is no shortage of methods to peer into the future. When it comes to the tax law, though, the most credible fortune-telling technique may be to study presidential budgets. These documents are often considered DOA (dead on arrival on Capitol Hill), and President Obama's 2017 wish list is no exception (although many wags declared the lame-duck president's final budget dead before arrival). Still, ideas dismissed in one year often find their way into law later on.

For example, a couple of years ago, President Obama proposed eliminating "aggressive" Social Security claiming strategies that allowed some married couples to increase their lifetime benefits from the program. The idea went nowhere -- until, late at night this past Halloween and with no public hearings or debate, Congress put the kibosh on those valuable opportunities. (Folks who turn age 66 by May 1 can still take advantage of them, if they act quickly. See Big Changes Ahead for Claiming Social Security.)

With that in mind, we studied President Obama's just-released 2017 budget for other retirement-saving breaks that are getting a reputation for being too good to last. We want you to be able to take advantage of them while you still can. Read on.

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