The legislative highlight of the year was Democrats raising fewer taxes on the wealthy than anticipated.
Many advisers are telling clients to wait until the smoke clears on Capitol Hill before making major tax planning decisions.
The Fidelity Charitable poll confirmed an upward trajectory in giving, while Vanguard Charitable updated a web tool that helps investors target donations toward homelessness and hunger.
The pandemic is boosting retirement among baby boomers, as well as their questions about when to claim benefits.
Is it better to donate cash or stock to charity? Learn about the after-tax benefits of both methods of charitable giving—plus a third option you may not have heard of before.
Joint Committee on Taxation data show that while millionaires collectively would pay a higher tax rate under the Build Back Better Act passed by the House, those earning at least $1 million would collectively pay $46.8 billion less in taxes.
The House measure lifts the cap on state and local tax deductions to $80,000 from the current $10,000 limit, while a Senate proposal would cap the deduction based on income.
House Democrats have proposed increasing the cap to $80,000 from $10,000 through the end of the decade; Senate Democrats are working on a less generous option.
Investors may bristle at the mere mention of tracking error—but that’s what helps them keep more of their money while maximizing their after-tax returns.
As fund companies start to post annual tax distributions, more than 110 funds are already showing capital gains distributions of more than 20%.
Congress has retirement accounts in its sights for future tax increases, but financial advisers can help their clients make some defensive moves now.
Discover 5 of the most common misconceptions your female clients may have about Social Security and how you can help them maximize their benefits as part of an overall retirement strategy.
The measure would place limits on individual retirement accounts, including preventing contributions to accounts once they reach $10 million, and give the IRS more oversight over them.
An expansion of the alternative minimum tax, would require some top earners to pay more in taxes.
House Democrats are considering a five-year suspension of the cap on federal deductions for state and local taxes, but the Vermont senator disapproves.
Listen to a particular client's needs rather than the noise in Washington, advisers said at the IN Retirement Income Summit.
The White House framework includes a 15% minimum corporate tax and a tax surcharge on wealthiest Americans, but leaves out an automatic retirement plan provision and changes to IRA rules
The administration believes the package, which includes tax increases and climate and social welfare spending, can pass Congress.
The plan, sponsored by Senate Finance Committee Chairman Ron Wyden, would require the richest Americans to pay taxes annually on appreciation in publicly traded assets, such as stocks and bonds.
The bill would increase the average benefit by 2% and impose the payroll tax on wages above $400,000.
