Tax

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Impact of raising the Social Security taxable wage base
RETIREMENT RETIREMENT PLANNING SEP 10, 2020
Impact of raising the Social Security taxable wage base

Taxing more earnings would improve the finances of the Social Security trust fund; it might also boost benefits

RMD return relief is over
RETIREMENT RETIREMENT PLANNING SEP 08, 2020
RMD return relief is over

Here are the rules on IRA rollovers that apply now that the Aug. 31 deadline for using the IRS relief has passed

Reframing Social Security claiming decisions
RETIREMENT RETIREMENT PLANNING SEP 04, 2020
Reframing Social Security claiming decisions

Focusing on benefit size rather than claiming age can improve outcomes

INmail: Navigating Social Security benefits and public employee offsets
RETIREMENT RETIREMENT PLANNING AUG 31, 2020
INmail: Navigating Social Security benefits and public employee offsets

Public employees in about a dozen states, as well as federal employees under the old Civil Service Retirement System, do not participate in Social Security and are not subject to payroll taxes.

Why 2020 is a good year to give
RETIREMENT OPINION AUG 28, 2020
Why 2020 is a good year to give

Existing tax laws, the CARES Act, and election year uncertainty make it wise to be generous now in support of extraordinary needs

Clients are tapping HSAs amid COVID-19
RETIREMENT RETIREMENT PLANNING AUG 25, 2020
Clients are tapping HSAs amid COVID-19

The accounts are frequently being used to cover pandemic-related expenses, and employers are increasingly playing up their benefits to workers

Advisers can shine a light on the darkness of 2020
RETIREMENT OPINION AUG 23, 2020
Advisers can shine a light on the darkness of 2020

Financial advisers are ideally situated to help clients talk through the unforeseen challenges a global pandemic brings

Why the payroll tax holiday is a bad idea
RETIREMENT RETIREMENT PLANNING AUG 19, 2020
Why the payroll tax holiday is a bad idea

Squeezing Social Security’s funding source could accelerate the depletion of the trust fund

Watch that RMD deadline, and other advice from the Retirement Income Summit
RETIREMENT RETIREMENT PLANNING AUG 17, 2020
Watch that RMD deadline, and other advice from the Retirement Income Summit

Despite the relief provided by the CARES Act, people are more worried about retirement than ever, and their concept of it is changing, panelists said

Virus spurs retirement resets, but what about Social Security?
RETIREMENT RETIREMENT PLANNING AUG 17, 2020
Virus spurs retirement resets, but what about Social Security?

Pandemic complicates Social Security claiming strategies in 2020, Mary Beth Franklin says

Gifting in uncertain markets
RETIREMENT OPINION AUG 17, 2020
Gifting in uncertain markets

In a volatile market, clients can give assets that are undervalued as a result of market instability, but are expected to appreciate in value

No plan to end payroll tax permanently, White House says
RETIREMENT RETIREMENT PLANNING AUG 14, 2020
No plan to end payroll tax permanently, White House says

Trump has suggested getting rid of the taxes several times recently, a move that threatens the solvency of Social Security and Medicare

Clients need 'life guides' for retirement — not just investment advice
RETIREMENT RETIREMENT PLANNING AUG 11, 2020
Clients need 'life guides' for retirement — not just investment advice

A long, successful retirement includes purpose, family, health, and of course, money, according to panelists at the InvestmentNews Retirement Income Summit

Trump says he's considering capital gains tax cut
RETIREMENT REGULATION AND LEGISLATION AUG 11, 2020
Trump says he's considering capital gains tax cut

The president could issue an executive order that indexes capital gains to inflation, which would cut investors' tax bills

Annuities and the 'great retirement reset'
RETIREMENT RETIREMENT PLANNING AUG 10, 2020
Annuities and the 'great retirement reset'

As COVID-19 has interrupted the retirement plans of millions, these products can play a role in their planning going forward, insurance execs said at the Retirement Income Summit

IRS gives businesses a break for donations related to SALT cap
RETIREMENT REGULATION AND LEGISLATION AUG 10, 2020
IRS gives businesses a break for donations related to SALT cap

Businesses that donate to charities in exchange for a state tax credit can deduct those costs from their federal taxes, according to new regulation

Trump’s payroll tax deferral raises red flags on Social Security
RETIREMENT REGULATION AND LEGISLATION AUG 10, 2020
Trump’s payroll tax deferral raises red flags on Social Security

The president is relying on an expansive and controversial reading of executive power that likely will face legal challenges

Pass it along
RETIREMENT RETIREMENT PLANNING AUG 09, 2020
Pass it along

Wealth transfer isn’t just for the well-heeled anymore as business owners and families of wide-ranging income levels embrace the latest strategies to keep intergenerational assets in the family — and out of the hands of the IRS

INmail: Signing up for Medicare nixes HSA contributions
RETIREMENT RETIREMENT PLANNING AUG 08, 2020
INmail: Signing up for Medicare nixes HSA contributions

If clients turn 65, and are still working and covered by an employer’s group health insurance plan, should they sign up for Medicare Part A?

Trade association pushes retirement savings provisions for next COVID relief bill
RETIREMENT RETIREMENT PLANNING AUG 04, 2020
Trade association pushes retirement savings provisions for next COVID relief bill

The Insured Retirement Institute calls for raising RMD age, allowing catch-up retirement contributions