Your client was a victim of a Ponzi scheme and wants to know whether he can deduct a loss on his tax return for the fraudulent behavior of the investment adviser.
More employer-sponsored retirement plans may start to offer Treasury and government money market mutual funds to minimize the risk of losses, according to a survey of plan consultants released today by Pacific Investment Management Co. LLC.
Opposition to the Obama administration's proposal to create automatic retirement plans in the workplace appears to be mounting — led in large part by both employers and financial advisers.
A marketing technique called framing is being looked at with suspicion even thought it often produces a positive result — getting people to save for retirement.
If you can’t file your 2008 federal income tax return with the Internal Revenue Service by April 15 and have to file for an Oct. 15 extension, you can still save on interest and penalties.
The cost of health care in retirement has risen 50% since 2002, according to research released today by Fidelity Investments.
Mercer LLC announced today that it will offer its defined contribution plan administration services directly to financial advisers after ending an exclusive relationship with Putnam Investments of Boston.
In his White House press conference last night, President Obama defended his proposal to reduce the tax deduction for philanthropic gifts, stating that the measure would not deter donors from giving.
Thirty-four percent of U.S. employers have reduced or eliminated matching contributions in their defined contribution plans in 2008, and 29% of employers plan to do so in the next 12 months, according to a study released today.
Putnam Investments of Boston today launched a new defined contribution platform for advisers and clients, signaling its expansion into the 401(k) market.
Health care costs of Alzheimer's disease are at least $33,007 annually per patient, compared with $10,603 for an older person without Alzheimer's, according to a report issued Tuesday by the Alzheimer's Association.
Only advisers who are independent of mutual funds, brokerage firms, insurance companies and other entities that sell financial products could give advice on individual retirement accounts if House Health, Employment, Labor and Pensions Subcommittee Chairman Rob Andrews, D-N.J., has his way.
The U.S. Chamber of Commerce, the nation’s largest employer advocacy group, has made it clear where it stands on President Obama’s proposal to create automatic retirement plans in every workplace: nice try, but no thanks.
As Florida weighs proposed legislation that could make it easier to toss annuity salespeople into prison, agents and the insurance industry are rallying to fight the bill.
Although older baby boomers account for the majority of individual long term care insurance sales, it is largely younger boomers and those under 45 who buy group LTC insurance.
While the IRS released new rules this week to help victims of Bernard Madoff’s Ponzi scheme recoup some of their losses with a tax break, private foundations will not be able to benefit.
Sales of variable annuities fell in the fourth quarter as premium flows hit $33.3 billion, according to data from NAVA Inc.
Thirteen recipients of bailout funds from the Troubled Asset Relief Program owe more than $220 million in unpaid federal taxes.
<b>Situation:</b> Under the new tax act, a hefty cash refund is available to so-called “first-time” home buyers.
Most Americans and Europeans would rather see the construction companies bailed out than the banks or car manufacturers, according to a recent survey conducted by the Financial Times of London and Harris Poll.
