Representatives Josh Gottheimer, Tom Suozzi and Mikie Sherrill, who have led efforts to include an increase to the $10,000 cap on deductions for state and local tax, will support bill.
A much better-funded Internal Revenue Service would be equipped with new auditors and technology to uncover tax avoidance.
The provision is part of the Inflation Reduction Act the Senate approved over the weekend and the House will take up this week.
Beware of accidentally disenrolling in Medicare. If you keep Medicare coverage, you will need to pay your premiums directly to CMS.
Social Security's earnings restrictions disappear once individuals reach their full retirement age, but FICA taxes on income do not.
The tax deal in the Senate would eliminate the tax break used by private equity and hedge fund managers.
Several House Democrats have said their support of any tax-code changes is contingent on raising the SALT cap.
Two-thirds of Americans worry more now than they did last year about their retirement income, and 70% are concerned that Social Security will run out of funding.
Financial planning pioneers share their experiences and wisdom on the challenges of retirement.
Senate Majority Leader Chuck Schumer’s tax plan is key to the Democrats’ economic package.
Current inflationary trends point to the biggest benefit increase in 41 years, with June CPI showing a 9.1% jump over the last 12 months.
Advisers often ask whether there's a way to minimize payroll taxes for small-business owners while maximizing future Social Security benefits.
Vanguard lowered the account minimum for an institutional target-date fund, causing a migration from the retail TDF, leaving those who held onto it in taxable accounts with a big capital gains bill.
Congress continues to ignore the fact that Social Security's trust fund is expected to run out of money in 2035, which would result in a 20% cut in benefits.
A projected 20% benefit cut in 2035 could significantly reduce lifetime income for younger workers, according to a new paper from HealthView Services.
Other practices that help limit investors' taxes include asset location, rebalancing and maximizing retirement income.
The measure would raise the required minimum distribution age, increase catch-up contributions for people between 60 and 63, and enable workers to withdraw emergency funds from plans, among its many provisions.
Filing for benefits online can help individuals avoid faulty guidance from well-meaning Social Security Administration reps.
The bill would more than double the 0% tax bracket for long-term capital gains and dividends, but its political prospects in the Democratic-controlled Congress are cloudy.
A new study finds that tax incentives for saving for retirement primarily benefit high-income households.
