Major changes that kicked in this year, thanks to the American Taxpayer Relief Act of 2012, likely will result in increased interest in charitable giving by clients interested in softening the bite of even higher brackets on income and capital gains taxes. As a refresher, the highest income tax rate rose in 2013 to 39.6%, while the highest capital gains rate is now 20%. To make things even more interesting, ATRA has also established a net investment income tax of 3.8%.
They're a great way to save on federal taxes, but state treatments differ widely.
Advisers in storm-ravaged Oklahoma struggle to find clients and neighbors amid the devastation left by Monday's massive tornado.
Changing of the guard comes as Sarah Libbey moves to managing director role at Fidelity Investments.
Don't celebrate just yet: financial planning pitfalls still abound.
They're a great way to save on federal taxes, but state treatments differ widely
With the estate tax exclusion being set at $5.25 million per person, it's easy for affluent clients whose estates don't quite hit that level to write off creating estate plans or building trusts. But even those in-between clients benefit from establishing trusts in select scenarios.
But B-D is looking to purchase asset managers, he says
Details are incomplete, but it is clear that the filing point to the growing bifurcation in the variable annuity pool of offerings: There will continue to be traditional variable annuities with living benefits, but more and more, carriers will be bringing out products that are largely investment-focused.
Moving a trust to another state can extend its life or reduce your income taxes.
