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Is tax-loss harvesting really that beneficial?

April 26, 2017

Many articles and websites tout the wonderful benefits of tax-loss harvesting, especially if you ask the robo-advisers. Should we take these claims at face value or is there more to the story? A closer look reveals that tax-loss harvesting is...

Trump's tax plan could be big win for RIAs

April 26, 2017

Registered investment advisers could emerge as unsuspecting beneficiaries of the Trump administration's proposed changes to the corporate tax code. As part of plan to cap the corporate tax rate at 15%, President Donald J. Trump is also proposing...

What advisers should know about the Trump tax proposal

April 26, 2017

Businesses, the wealthy and average taxpayers are likely to have more money in their pockets under President Donald Trump's tax proposal, financial advisers anticipate. A list of goals for the tax overhaul, unveiled Wednesday by President Donald...

Avoid these common RMD mistakes

April 24, 2017

With roughly 10,000 baby boomers turning age 70½ every day, knowing how to help clients take required minimum distributions from retirement accounts like 401(k)s and IRAs is becoming more important for advisers. The topic of RMDs is actually...

Why a GOP tax proposal could be bad news for your clients

April 18, 2017

Conservative activists and House Republican leaders want to eliminate a trillion-dollar tax break that mostly benefits wealthy filers in Democratic states, a push that could further imperil President Donald J. Trump's hopes of winning bipartisan...

Help clients use qualified charitable distributions to save on taxes

April 14, 2017

Charitable IRA rollovers, technically known as qualified charitable distributions, save taxes. So why aren't clients taking advantage of them? We're not seeing many people using them, when most clients who qualify should be. This tax benefit...

Free online tax filing proposed in Senate

April 12, 2017

A bill simplifying and eliminating the cost of tax-filing for the average taxpayer has been re-introduced by Senate democrats. The Tax Filing Simplification Act of 2017, originally introduced in the last Congress, would direct the Internal Revenue...

Taxpayers only hurting themselves by not mentioning their nondeductible IRA contributions

March 22, 2017

By now nearly all taxpayers have begun the arduous task of compiling the information needed to prepare their 2016 tax return, including sifting through receipts and statements to determine what's needed for the return and what is just noise....

Tax cut optimism may be overblown

March 22, 2017

Even if new health-care legislation makes it through the House and Senate, the timing is likely to push tax reform into next year, pushing tax cuts further into the future, says Wall Street Journal columnist Justin Lahart. "Investors who are...

Tax reform could be 'way worse' for retirement industry than Department of Labor's fiduciary rule: Graff

March 20, 2017

Some of the reforms being weighed in Washington as part of a comprehensive tax-reform package could end up having a much more negative impact on the retirement industry than the Department of Labor's fiduciary rule, warns an executive with the...

Advisers embrace elimination of Obamacare taxes, question GOP replacement plan

March 7, 2017

Financial advisers endorse the elimination of taxes that funded the Affordable Care Act but wonder about the extent of the health insurance coverage that will result from the House Republican substitute plan. The House Ways and Means and Energy...

Advisers' expectations for Trump's tax reform high

March 3, 2017

Hope and expectations for both corporate and individual tax reform are running high among financial advisers, many of whom believe real progress can get done as early as this year. "Thinking back to the last significant tax reforms during the...

Wealthy clients might be vulnerable to IRS audit

February 28, 2017

The IRS is turning up the heat on taxpayers. Some of them, anyway. The number of audits conducted by the Internal Revenue Service has dropped as it continues to reel from years of budget cuts. But even as its workforce shrinks, the agency must...

Putting alternatives into tax-exempt vehicles

February 28, 2017

Generating adequate income for clients during their retirement is increasingly a challenge for financial advisers. Longer life-spans, rising health costs and ineffective safety nets continue to exacerbate this challenge. Increasing allocations...

Adviser loses IRS fight, putting tax status for solo practitioners in question

February 23, 2017

In October, I wrote a column about a financial adviser who was squaring off with the IRS in a dispute over using a flow-through tax structure known as an "S corporation" to pay himself. Financial advisers who are solo practitioners have been...

Lower taxes could hit municipal bond yields

February 13, 2017

The one drawback to lower tax rates: Muni bond prices could take a hit, according to Peter Hayes, BlackRock's head of municipal bonds. People buy municipal bonds primarily because their interest is free from federal, and sometimes state, income...

RIAs at odds over fees for clients' cash balances

February 10, 2017

With the stock market charging ahead to new highs, financial advisers are faced with the question of whether to move some of their clients' profits off the table by going into more cash or cash equivalents. But doing so raises an even bigger...

IRS wants $700 million from Michael Jackson estate

February 6, 2017

How much are the rights to the late Michael Jackson's name and likeness worth? That's the central question in a case in U.S. Tax Court, according to The Wall Street Journal, which reported that the artist's executors are squaring off against...

Estate-tax flux could boost grantor trusts

February 5, 2017

With the federal estate tax in flux, advisers may want to consider planning strategies that afford some measure of flexibility. For example, there's the grantor trust, a common type of irrevocable trust. (More: What will the estate tax look...

What will the estate tax look like under Trump?

February 5, 2017

While it's clear that President Donald J. Trump wants to scrap the estate tax, it's not clear what financial advisers should be telling their clients as details about the law's demise get sorted out. Mr. Trump has suggested he wants to eliminate...

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