Helping clients put a solid plan in place for paying their tax liability can make the annual tax process less painful for many.
The president wants to raise the capital gains tax rate to a base of 39.6 percent, up from 20 percent, and establish a minimum tax rate of 25 percent on households worth at least $100 million.
A host of new rules and regulations impacting high-net-worth individuals take effect this year, not to mention a significant old one that’s expiring at the end of 2025.
There’s a chance to do two 529-to-Roth rollovers this year – but only if the first one (for 2023) is done by April 15.
Most people are expecting a refund, and they could be getting more than they think.
The amount of unpaid tax is estimated to be hundreds of millions of dollars.
Financial advisors looking to move cash off the sidelines this spring see opportunities in the municipal bond market.
Senate Finance Committee targets private placement life insurance as a 'booming tax dodge' for the wealthy.
With the net unrealized appreciation tax break, company stock can be withdrawn from a 401(k) in a lump-sum distribution and have its appreciation taxed at capital gains rates, rather than as ordinary income.
'I’d love to see the [full] SALT deduction come back but not if it means rates go up,' one advisor says.
Veronica Karas, advisor at Captrust, explains why financial planning comes first.
Lackluster Republican support in the Senate threatens to sink the measure.
The program's chief actuary says the bill would improve the long-term solvency of Social Security.
'There are so many tax breaks out there that shouldn’t be there,' JPMorgan CEO says.
'If Trump wins the general [election], then it’s likely that the House and Senate go Republican as well, and the 2017 tax cuts get extended,' an advisor says.
As Social Security inches closer to insolvency, the tax breaks provided to 401(k)s, defined-benefit plans and IRAs could be revamped to fix the system, according to a recent paper.
Rushing to file early can lead to having to amend tax forms later on, advisors say.
A separate long-shot bill to eliminate the estate tax could help set the stage for tax reform in 2025, when individual rate cuts expire.
Firm announces new comprehensive addition to its wealth management platform.
Congressional negotiators are locked in talks over renewing expired business tax breaks and boosting the child tax credit.
