The taxes people pay on their homes can pose a major burden, but it depends on which state they live in.
The political makeup doesn’t bode well for passing major tax legislation — and a bill that imposes a specific levy on billionaires would be substantial.
Advisors and clients will see a flurry of coveted tax breaks come and go in the next three years. Here’s how to keep track.
A study by the Employee Benefit Research Institute shows that relatively few account holders invest their funds in assets other than cash, although the number who do so is increasing.
Thirty-four percent of Americans surveyed fear their tax refund won’t make as big of an impact as a result of rising costs, while 33% worry the refund will be smaller than they expect.
A change in cash flow meant it temporarily wasn't worth it to itemize donations of goods and money, a development that provided an unexpected bonus.
Some business owners are able to accumulate more retirement savings in the vehicles than in a SEP IRA, and such funds can also become part of a Roth IRA rollover strategy.
While the popular guideline is a good starting point, inflation and rising interest rates are factors that change the game when it comes to retirement withdrawals.
While the legislation provides an attractive option for families who end up not needing the money in a 529 plan, it's not clear how many will be eligible to use it.
If a surviving spouse is collecting their own Social Security retirement or disability benefit when their spouse dies, or is not yet collecting Social Security, they will have to apply for survivor benefits.
Even though investors can't access their accounts with bankrupt crypto lender Celsius Networks, they still owe taxes on the interest income they earned from the accounts last year.
A survey by the Senior Citizens League shows a majority of older consumers remain skeptical that the 8.7% Social Security COLA for 2023 will keep pace with rising costs this year.
House Republicans had suggested negotiations on the debt limit could include an agreement to set up a commission to negotiate later changes to Social Security and Medicare to extend the programs' solvency.
eMoney Advisor and FP Alpha have tools to help advisors with Roth conversions.
The House Republican bill is likely to hit a wall in the Democratic-majority Senate. There might be a better chance to extend some 2017 tax cuts set to expire in 2025,
The convergence of low bond prices, high inflation and market volatility has boosted the number of retirees being forced to go back to work.
Not only did Social Security benefits increase in 2023, but Medicare Part B premiums declined for the first time in more than a decade, resulting in larger net Social Security benefits for most retirees.
An unusual coordinated effort among state lawmakers seeks to impose wealth taxes across the country, but advisors warn levies on assets will drive high-net-worth clients to lower-tax states.
Half of near-retirees are relying on self-education to understand Social Security and Medicare, while 53% plan to use an advisor to maximize retirement income sources.
Direct indexing looks a lot like separately managed accounts, and SMAs may provide more control and flexibility for investors.
