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Once again, IRS waives RMDs for beneficiaries subject to the 10-year rule
The new relief on required minimum distributions for this year builds on previous IRS relief for RMDs in 2021, 2022 and 2023.
How advisors can become forward-thinking on taxes
'Clients tend to care more about saving on taxes than maximizing their returns,' an advisor says.
The last-minute IRA dash before Tax Day is real
Contributions to IRAs are up significantly this season for the 2023 tax year, according to Fidelity.
Uncle Sam’s debt woes create opportunity for muni buyers
'If you think taxes are going up, munis and the muni exemption are a great place to be," Nuveen's head of municipals says.
James Caan estate case highlights rollover rules advisors need to know
An offer the IRS refused! The estate owes nearly $1 million in taxes and penalties.
Shocker: Wealthy Americans tend to flee high-income tax states
Study spanning 110 years confirms high earners, faced with too-high tax hikes, migrate to more tax-friendly jurisdictions.
Florida RIA rolls out tax and accounting service
Graham Capital has a new sister firm, focused on bookkeeping and tax preparation, led by a professional with three decades of experience.
IRS sitting on $1B that should be in 940,000 Americans’ bank accounts
And the refunds may be missed forever if an upcoming deadline is missed.
Avantax president accounts for a brand-new era
While the firm is best known for its tax expertise, Todd Mackay is talking about relationships and creating connections.
Muni bonds’ tax shield looking shinier amid US wealth boom
With tax and rate hikes on the horizon, a surge in high-earning American households sets up robust demand for munis.
Biden’s budget targets backdoor Roths and $10M retirement accounts
The proposed budget seeks to increase taxes for corporations and the wealthy.
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
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
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
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
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
The amount of unpaid tax is estimated to be hundreds of millions of dollars.
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
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
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.
