Tax

Displaying 2740 results
Proposed wealth tax ‘sounds lovely’ but ‘doesn’t make any sense’
RETIREMENT REGULATION AND LEGISLATION AUG 01, 2023
Proposed wealth tax ‘sounds lovely’ but ‘doesn’t make any sense’

Financial advisors say a bill recently introduced in Congress sounds good but would be difficult to administer.

Biden selects Martin O'Malley for Social Security commissioner
RETIREMENT RETIREMENT PLANNING JUL 26, 2023
Biden selects Martin O'Malley for Social Security commissioner

The agency is responsible for distributing Social Security to more than 70 million beneficiaries and commands a $1 trillion budget.

In surprise announcement, IRS says it will stop unannounced tax visits
RETIREMENT REGULATION AND LEGISLATION JUL 24, 2023
In surprise announcement, IRS says it will stop unannounced tax visits

Knock, knock, who’s there? Not the IRS anymore — at least not without an appointment.

Stop contributing to IRAs and 401(k)s
RETIREMENT RETIREMENT PLANNING JUL 24, 2023
Stop contributing to IRAs and 401(k)s

This decades-old strategy no longer works. It’s time to reduce IRA balances, not increase them.

Schwab Charitable donors give record amount despite rocky market
RETIREMENT RETIREMENT PLANNING JUL 19, 2023
Schwab Charitable donors give record amount despite rocky market

Its donors surpassed 1 million individual grants to charities for the first time in the organization’s history, Schwab said.

Millionaire tax evaders be warned, the IRS says it's coming for you
RETIREMENT TAX JUL 18, 2023
Millionaire tax evaders be warned, the IRS says it's coming for you

Internal Revenue Service says it is only just at the start of cracking down on those who try to hide their income or refuse to pay the taxes they owe.

How to save your clients' 'Benjamins'
RETIREMENT RETIREMENT PLANNING JUL 17, 2023
How to save your clients' 'Benjamins'

With several major provisions of the Tax Cuts and Jobs Act due to sunset by the end of 2025, advisors should be talking to clients about their tax-deferred savings.

Hightower Advisors gains HNW tax advantage through strategic investment
RETIREMENT TAX JUL 14, 2023
Hightower Advisors gains HNW tax advantage through strategic investment

The deal will enhance the Chicago-based firm's tax advisory services for high-net-worth and business clients.

Warnings from financial advisors grow with Mega Millions jackpot
RETIREMENT RETIREMENT PLANNING JUL 13, 2023
Warnings from financial advisors grow with Mega Millions jackpot

With the pool for Friday’s draw having grown to an estimated $560 million, advisors urge anyone experiencing a windfall to proceed cautiously.

Financial planner guilty of tax fraud on behalf of clients
RETIREMENT TAX JUL 13, 2023
Financial planner guilty of tax fraud on behalf of clients

Charities, shell companies and tax evasion schemes leave a Cleveland advisor in hot water.

2024 COLA estimate increases despite slowing inflation
RETIREMENT RETIREMENT PLANNING JUL 12, 2023
2024 COLA estimate increases despite slowing inflation

The Senior Citizens League increased its estimate for the 2024 cost of living adjustment to 3%.

Social Security rules for divorced spouses
RETIREMENT RETIREMENT PLANNING JUL 11, 2023
Social Security rules for divorced spouses

First rule: There must be at least a decade between 'I do' and 'I don’t.'

How tax refunds can kickstart clients' retirement plans
RETIREMENT OPINION JUL 05, 2023
How tax refunds can kickstart clients' retirement plans

There are many ways for clients to make sound investment decisions with their tax refunds, but it's important to understand their entire financial picture before giving advice.

Investors favoring taxable accounts over IRAs, 401(k)s
RETIREMENT RETIREMENT PLANNING JUN 29, 2023
Investors favoring taxable accounts over IRAs, 401(k)s

As wealthier clients approach retirement, advisors must focus on income strategies, Hearts & Wallets says.

Time is running out to avoid cuts to Social Security benefits
RETIREMENT RETIREMENT PLANNING JUN 26, 2023
Time is running out to avoid cuts to Social Security benefits

House conservatives recently recommended raising the retirement age to receive full benefits to 69, a proposal that put the spotlight back on the thorny problem of the program's solvency.

Navigating ever-changing tax rules on IRAs
RETIREMENT RETIREMENT PLANNING JUN 20, 2023
Navigating ever-changing tax rules on IRAs

As laws and IRS guidance evolve, it’s crucial for advisors to stay on the leading edge of how inherited IRAs are affected.

Social Security benefits targeted for cuts by House conservatives
RETIREMENT RETIREMENT PLANNING JUN 15, 2023
Social Security benefits targeted for cuts by House conservatives

A proposal by the House Republican Study Committee would gradually increase the retirement age until it hit 69 for those turning 62 in 2033.

Estimate for 2024 Social Security COLA drops with inflation
RETIREMENT RETIREMENT PLANNING JUN 13, 2023
Estimate for 2024 Social Security COLA drops with inflation

The Senior Citizens League estimates that the cost-of-living adjustment to Social Security benefits could drop to 2.7% for 2024, down from the 2023 COLA of 8.7%. 

White House dismisses GOP tax cut plan as handout to wealthy
RETIREMENT REGULATION AND LEGISLATION JUN 12, 2023
White House dismisses GOP tax cut plan as handout to wealthy

President Joe Biden's top economic adviser, Lael Brainard, signaled the White House is unwilling to entertain the GOP proposal, which would cut income and corporate taxes.

House GOP tax package launches effort to pass reform legislation
RETIREMENT REGULATION AND LEGISLATION JUN 12, 2023
House GOP tax package launches effort to pass reform legislation

The policies of most interest to financial advisors, such as expiring estate tax breaks, could come up later in the year in negotiations over a bipartisan bill.