Tax

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Pandemic will deplete Social Security trust funds
RETIREMENT RETIREMENT PLANNING MAY 05, 2020
Pandemic will deplete Social Security trust funds

The economic slowdown resulting from COVID-19 will cut into the program’s revenue and boost its expenses

Advisers should be able to use the pass-through deduction
RETIREMENT OPINION MAY 04, 2020
Advisers should be able to use the pass-through deduction

Amid the unprecedented economic disruption, independent contractor financial advisers are among the small business owners adversely impacted

Restore the tax deduction for advisory fees
RETIREMENT OPINION MAY 04, 2020
Restore the tax deduction for advisory fees

During these challenging times, it is more important than ever that we protect and expand access to financial advice

Wealthy shielded billions with Trump tax break
RETIREMENT ALTERNATIVES APR 30, 2020
Wealthy shielded billions with Trump tax break

Opportunity zone funds have taken in over $10 billion, and more than $3 billion of that was invested since January

Undoing unwanted RMDs
RETIREMENT RETIREMENT PLANNING APR 25, 2020
Undoing unwanted RMDs

Ed Slott discusses whether clients who already took required minimum distributions this year can put that money back in light of the CARES Act

For charitable givers, CARES Act offers big tax breaks
RETIREMENT RETIREMENT PLANNING APR 24, 2020
For charitable givers, CARES Act offers big tax breaks

The coronavirus recovery bill allows for the full deduction of your donation up to your adjusted gross income

Dispelling CARES Act confusion
RETIREMENT RETIREMENT PLANNING APR 23, 2020
Dispelling CARES Act confusion

Ed Slott clears up questions about how the CARES Act will affect required minimum distributions

What does the Secure Act mean as we emerge from quarantine?
RETIREMENT PRACTICE MANAGEMENT APR 22, 2020
What does the Secure Act mean as we emerge from quarantine?

Ed Slott offers some tax strategies for you and your clients to consider in 2020.

Social Security funding still set to run out in 2035
RETIREMENT RETIREMENT PLANNING APR 22, 2020
Social Security funding still set to run out in 2035

The latest estimate is unchanged from last year's, but it does not reflect the impact of the COVID-19 pandemic on the trust funds

Escape hatch for workers claiming Social Security early
RETIREMENT RETIREMENT PLANNING APR 22, 2020
Escape hatch for workers claiming Social Security early

A special rule allows benefits for those who have exceeded the annual earnings limit in their first year of retirement

No free lunch (not even for Tom Hanks) on IRA distributions
RETIREMENT RETIREMENT PLANNING APR 21, 2020
No free lunch (not even for Tom Hanks) on IRA distributions

Ed Slott separates fact from fiction about how the CARES Act will affect clients’ retirement savings

Zero-commission ETFs could spur practice changes: Cerulli
RETIREMENT PRACTICE MANAGEMENT APR 21, 2020
Zero-commission ETFs could spur practice changes: Cerulli

Report says lower trading costs will encourage advisers to use exchange-traded funds for niche asset allocations

Extended tax deadline: What does it mean?
RETIREMENT TAX APR 20, 2020
Extended tax deadline: What does it mean?

The tax deadline has been moved to July, but that doesn’t necessarily mean clients should wait, Ed Slott says

IRS warns stimulus payments will attract scammers
RETIREMENT REGULATION AND LEGISLATION APR 15, 2020
IRS warns stimulus payments will attract scammers

The payments present opportunities for scams, identity theft and low-tech crimes such as stealing checks from mailboxes

IRS extends more tax deadlines
RETIREMENT RETIREMENT PLANNING APR 10, 2020
IRS extends more tax deadlines

The additional postponements cover trusts, estates and corporations, as well as individuals

Wealthy win, low-wage earners lose in tax filing extension
RETIREMENT REGULATION AND LEGISLATION APR 09, 2020
Wealthy win, low-wage earners lose in tax filing extension

The postponement of the tax deadline is likely to give some wealthy taxpayers an interest-free loan on their tax bills

Cares Act student-loan relief has few takers
RETIREMENT REGULATION AND LEGISLATION APR 07, 2020
Cares Act student-loan relief has few takers

Workers can receive as much as $5,250 for debt repayment, tax free, from employers

Pandemic prompts some to rethink Social Security claiming strategy
RETIREMENT RETIREMENT PLANNING APR 07, 2020
Pandemic prompts some to rethink Social Security claiming strategy

Concerns about shrinking portfolios, lost jobs may accelerate claims

Advice groups push for tax break for fees in next stimulus package
RETIREMENT REGULATION AND LEGISLATION APR 06, 2020
Advice groups push for tax break for fees in next stimulus package

Senate Finance Committee spokesperson says that it's ‘too early to know what the legislation might encompass’

Scammers claim Social Security benefits will be halted
RETIREMENT RETIREMENT PLANNING MAR 31, 2020
Scammers claim Social Security benefits will be halted

Meanwhile, the Social Security Administration is scaling back its hotline hours amid a flood of phone calls