Tax

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Planning your tax payment strategy
RETIREMENT OPINION MAR 12, 2024
Planning your tax payment strategy

Helping clients put a solid plan in place for paying their tax liability can make the annual tax process less painful for many.

Biden's budget proposal would hike taxes on investors, businesses
RETIREMENT REGULATION AND LEGISLATION MAR 11, 2024
Biden's budget proposal would hike taxes on investors, businesses

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.

Advisors, don’t overlook these items during tax season
RETIREMENT TAX MAR 11, 2024
Advisors, don’t overlook these items during tax season

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.

An unexpected double tax break for 529-to-Roth rollovers
RETIREMENT RETIREMENT PLANNING MAR 04, 2024
An unexpected double tax break for 529-to-Roth rollovers

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.

Taxpayers reveal plans for refunds as IRS confirms $93B has already been paid
RETIREMENT TAX MAR 04, 2024
Taxpayers reveal plans for refunds as IRS confirms $93B has already been paid

Most people are expecting a refund, and they could be getting more than they think.

IRS targets those with high incomes who haven't filed tax returns, some since 2017
RETIREMENT REGULATION AND LEGISLATION MAR 01, 2024
IRS targets those with high incomes who haven't filed tax returns, some since 2017

The amount of unpaid tax is estimated to be hundreds of millions of dollars.

Tax season could be boon for muni bonds
RETIREMENT FIXED INCOME FEB 29, 2024
Tax season could be boon for muni bonds

Financial advisors looking to move cash off the sidelines this spring see opportunities in the municipal bond market.

‘Legal’ insurance tax break blasted
RETIREMENT LIFE INSURANCE AND ANNUITIES FEB 21, 2024
‘Legal’ insurance tax break blasted

Senate Finance Committee targets private placement life insurance as a 'booming tax dodge' for the wealthy.

High stock values and layoffs combine for big tax breaks on company stock
RETIREMENT RETIREMENT PLANNING FEB 12, 2024
High stock values and layoffs combine for big tax breaks on company stock

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.

Bill chips away at SALT block but comes with drawbacks, advisors say
RETIREMENT REGULATION AND LEGISLATION FEB 09, 2024
Bill chips away at SALT block but comes with drawbacks, advisors say

'I’d love to see the [full] SALT deduction come back but not if it means rates go up,' one advisor says.

Controlling the controllables
RETIREMENT RIAS FEB 09, 2024
Controlling the controllables

Veronica Karas, advisor at Captrust, explains why financial planning comes first.

House passes $78B bill with business, child tax breaks
RETIREMENT REGULATION AND LEGISLATION FEB 01, 2024
House passes $78B bill with business, child tax breaks

Lackluster Republican support in the Senate threatens to sink the measure.

Social Security Administration weighs in on bill to repeal taxes on benefits
RETIREMENT RETIREMENT PLANNING JAN 29, 2024
Social Security Administration weighs in on bill to repeal taxes on benefits

The program's chief actuary says the bill would improve the long-term solvency of Social Security.

Dimon says rich should pay more to fund low-income tax cuts
RETIREMENT BROKER DEALERS JAN 26, 2024
Dimon says rich should pay more to fund low-income tax cuts

'There are so many tax breaks out there that shouldn’t be there,' JPMorgan CEO says.

Advisors see Trump focusing on expiring tax cuts if he wins back White House
RETIREMENT TAX JAN 25, 2024
Advisors see Trump focusing on expiring tax cuts if he wins back White House

'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.

Could limiting tax breaks for 401(k)s rescue Social Security?
RETIREMENT RETIREMENT PLANNING JAN 24, 2024
Could limiting tax breaks for 401(k)s rescue Social Security?

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.

Advisors run through tax season checklist  
RETIREMENT TAX JAN 24, 2024
Advisors run through tax season checklist  

Rushing to file early can lead to having to amend tax forms later on, advisors say.

Bill to extend small-business tax breaks faces tough path, even with bipartisan backing
RETIREMENT REGULATION AND LEGISLATION JAN 22, 2024
Bill to extend small-business tax breaks faces tough path, even with bipartisan backing

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.

AssetMark launches solution to help advisors unlock tax efficiencies for clients
RETIREMENT FINTECH JAN 18, 2024
AssetMark launches solution to help advisors unlock tax efficiencies for clients

Firm announces new comprehensive addition to its wealth management platform.

Proposed tax deal in Congress could give economy a boost
RETIREMENT REGULATION AND LEGISLATION JAN 16, 2024
Proposed tax deal in Congress could give economy a boost

Congressional negotiators are locked in talks over renewing expired business tax breaks and boosting the child tax credit.