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Retirement planning challenges under tax reform

October 13, 2017

During retirement, clients may be counting on certain deductions to reduce their taxable income, but under the latest tax proposal some of the biggest deductions are on the chopping block. Advisers will have to address what might happen, before...

House panel approves legislation to kill DOL fiduciary rule, and 2 other adviser-related bills

October 12, 2017

The House Financial Services Committee on Thursday approved legislation that would kill the Labor Department fiduciary rule and replace it with an investment advice regulation to be written by the Securities and Exchange Commission. In a 34-26...

Trump may tout $4,000 worker benefit in tax pitch

October 11, 2017

President Donald J. Trump will try to make the case that corporate tax breaks would benefit middle-class wage earners Wednesday evening – and an excerpt of his speech suggests he'll use a measure of salesmanship. Trump is expected to say the...

Trump tax plan draws concerns of GOP budget hawks

October 3, 2017

The White House is showing "softness" on ending a $1.3 trillion federal tax deduction filers get for their state and local taxes, Senator Bob Corker said Monday, warning that it raises questions about the GOP's "intestinal fortitude" and could...

Tax reform anomaly could diminish some companies' need for 401(k) plan

September 28, 2017

The Republican tax-reform framework released Wednesday has led to concern within some retirement industry circles that plan creation and maintenance — and plan advisers' businesses — would be negatively impacted by its policy details. The...

House sends safe harbor ETF bill to Trump

September 28, 2017

The U.S. House of Representatives passed the Senate's version of the Fair Access to Investment Research Act of 2017, which would let brokers produce exchange-traded-fund analyses without the reports being considered a sales offer. The bill now...

Advisers see benefits in Trump tax plan, but have many questions

September 27, 2017

Financial advisers identified potentially lower tax rates on businesses structured as pass-through entities as a boon under the tax plan presented Wednesday by President Donald J. Trump, but identified several unknown variables, such as capital...

'Rothification' to pay for tax cuts seen as losing momentum, for now

September 27, 2017

Tax incentives to encourage retirement savings appear to be safe for now, but proponents of traditional savings plans are remaining vigilant, as Republicans on Wednesday released the outline that will guide tax reform. The Republican framework...

Trump tax plan: Congress to decide how much top earners will pay

September 27, 2017

President Donald J. Trump and Republican leaders were poised to launch an urgent effort to get a major legislative win this year, announcing a long-awaited tax plan that will immediately set off a fight over how much top earners should pay....

Tax reform could be expensive for middle class

September 18, 2017

Here's what we know about the details of the tax reform plan: almost nothing. Powerful lawmakers are promising at least a framework for the overhaul by the end of the month. The broad goals are lower rates for corporations and individuals, a...

Nevada fiduciary law raises concerns among retirement professionals, brokerage industry

September 18, 2017

A new Nevada law expanding the fiduciary responsibilities of certain financial professionals could have implications well beyond the border of the Silver State, supporters and critics agree — for significantly different reasons. Enacted in...

Opponents of shifting to Roth plans speak up in Senate

September 15, 2017

Sen. Sherrod Brown, D-Ohio, promised "one hell of a fight" if tax reform negotiators consider shifting retirement savings tax incentives to Roth accounts instead of 401(k) plans, as a way to pay for corporate tax cuts. Speaking at a Senate Finance...

Muni bonds' tax break looks safe for now

September 13, 2017

Donald J. Trump and Treasury Secretary Steven Mnuchin have expressed support for maintaining the tax break on municipal bonds. The market takes them at their word. As the Republican president embarks on a push for tax cuts, top-rated state and...

Congress likely to 'push down' the priority of killing DOL fiduciary rule

September 7, 2017

A main congressional opponent of the Department of Labor's fiduciary rule said Thursday that Capitol Hill's swelling political agenda will decrease the priority level of taking up legislation to kill the rule. "Right now, you've got a debt-ceiling...

How financial advisers can take advantage of tax reform uncertainty

August 24, 2017

All eyes are on the prospect of tax reform as congressional Republicans push hard to deliver on one of their most coveted policy goals. While their ability to achieve tax reform is far from certain, there are strategies financial advisers can...

Washington dysfunction looms over markets as September approaches

August 24, 2017

Most investors and advisers try to steer clear of politics. But two big events — a possible government shutdown and a potential default — could make the markets choppy in the next few months, and it's probably best if advisers brief their...

Industry groups opposing DOL fiduciary rule maximize spending on author of bill to kill measure

August 4, 2017

Several financial industry trade associations that oppose the Labor Department's fiduciary rule have maximized their campaign spending on the author of legislation that would kill the rule. In the first half of year, the Financial Services Institute,...

Bannon proposal to raise top tax rate dismissed by White House official

July 31, 2017

A top income-tax rate of 44 percent for Americans earning more than $5 million per year isn't under consideration, a White House official said Monday, knocking down a proposal said to be backed by top Trump adviser Steve Bannon. "I don't think...

More advisers disapprove of Trump job performance at six-month mark

July 27, 2017

Financial advisers are increasingly dismayed by President Donald J. Trump's performance in office, as he begins the second half of his first year. An InvestmentNews poll of 991 readers shows that 59% either "disapprove" or "strongly disapprove"...

Bannon plan to raise taxes on highest earners may find GOP support

July 27, 2017

White House chief strategist Steve Bannon's plan to raise the top income-tax rate for America's highest earners could find some support among congressional Republicans as part of a populist message to sell a broader tax overhaul, according to...

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