Use these seven tips now to help clients reduce their tax obligations before the rules change.
Schwab reports new accounts up 50% from last year, assets up 33%.
Blame higher Medicare costs on a provision designed to protect Social Security benefits.
Under the House bill, they would be hurt more than the middle class and the super rich.
Concerns over strict limits on pre-tax 401(k) savings and the upending of non-qualified deferred compensation plans are receding.
Several Republican senators expressed reservations about the bill, and the GOP cannot afford too many defections.
Some high earners could keep the full value of their COLAs and see no change to their Medicare premiums.
Elimination of state and local tax deductions will hurt clients in high-tax states the most
DoubleLine Capital executive says he's 'appalled' by the continuation of carried-interest break.
Tax reform legislation expected to have more of a challenge in upper chamber.
Modifications make it easier for some advisers to get a business tax break, repeal the ability to recharacterize Roth accounts, and add uncertainty by making individual cuts temporary and injecting health care into the debate.
Instead of letting clients assume the fallacy of performance outliers, help them with tax-smart asset location.
The solution may be for legislation to preserve the step-up in basis for inherited assets.
Both bills exclude all but small investment advisory firms.
Last-minute changes also include restoration of adoption credit and elimination of limits on interest deductions for car dealers.
If the tax bill becomes law, the recharacterization repeal will be effective after 2017
Some key differences from House bill include how mortgage deduction and estate taxes are treated.
The House bill seeks to limit the 25% rate to manufacturers, but will still creates opportunities for strategic tax management.
Elimination of alimony deduction could complicate future divorce settlements.
Government website offers tips to protect personal data, but gaps may remain.
