Ending the step-up in basis and raising the capital gains tax rate would amount to the biggest curb on dynastic wealth in decades.
Exchange-traded funds are generally more tax-efficient, spinning off fewer capital-gain disbursements that for some could soon become a lot more costly.
One should always model and prepare for changes to the current reality, but the idea of moving money today based on an unknown reality seems a clear abrogation of duties.
With potential tax changes on the horizon, here are the IRA moves to make now.
Narrow Democratic majorities in the House and Senate provide plenty of political obstacles that could impede the president's tax plan.
The president promised tax increases on the wealthy to pay for ambitious plans to spend trillions on infrastructure, education and other Democratic priorities.
While the IRS has not corrected the publication that suggested annual required minimum distributions under the 10-year rule, no one believes this to be correct.
Social Security Administration Commissioner Andrew Saul warns that underfunding the system will increase benefit delays.
The president's tax package could take aim at a long list of sometimes obscure deductions, exclusions and loopholes that are favorites of the 0.1%.
Republicans are likely to oppose the tax increases en masse, but the White House is also risking a struggle with Democratic lawmakers who want the administration to address the $10,000 cap on state and local tax deductions.
Big banks' finance work involving environmental, social and governance projects saves them a lot on taxes.
The idea of hiking taxes on capital gains from the current top rate of 23.8% is viewed by some as a trial balloon to test levels of support and resistance. The top tax rate would apply to those with annual incomes of at least $1 million, which is about 500,000 American taxpayers.
The administration reportedly is considering boosting the tax rate on the capital gains to 39.6% from the current base rate of 20%.
The annual EBRI survey underscores workers' and retirees' optimism about the outlook for Social Security and Medicare.
Tax-related advice is one of the few areas where advisory expertise so clearly and quickly shows its worth.
To maximize benefits over the couple’s joint lifetimes, claiming her Social Security benefits early will likely result in the largest payout.
The record deal volume in the first quarter is being attributed to multiple factors, not the least of which is President Joe Biden's threats to hike capital gains taxes.
The level of knowledge is improving but the public still needs guidance on decisions about claiming benefits.
There's a sense of urgency to make moves to take advantage of today's low tax rates because they may be going up soon. A $2.3 trillion package contains a proposal to increase the corporate tax rate from 21% to 28%.
Three House Democrats say they won't support the tax hikes needed to support the administration's infrastructure proposal unless the plan repeals the cap on state and local tax deductions.
