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Blackstone’s tax-free hedge fund pitch draws scrutiny
Senate Finance Committee Ron Wyden has requested information about private placement life insurance, which can be used to shelter hedge funds and other products from taxes.
Advisers prepare clients for audits as stronger IRS enforcement looms
The Inflation Reduction Act will boost the agency's funding by $80 billion over 10 years to strengthen its enforcement and compliance efforts.
Wealthy clients mostly avoid new taxes as spending bill nears finish line
Legislation that last year contained a litany of taxes on high earners has been whittled down to a bill with a few corporate tax provisions.
House Democrats pushing for SALT say they will vote for Biden tax bill
Representatives Josh Gottheimer, Tom Suozzi and Mikie Sherrill, who have led efforts to include an increase to the $10,000 cap on deductions for state and local tax, will support bill.
Tax bill would empower IRS to collect hundreds of billions of dollars from wealthy Americans
A much better-funded Internal Revenue Service would be equipped with new auditors and technology to uncover tax avoidance.
Republicans attack stock-buyback tax as threat to retirement savings
The provision is part of the Inflation Reduction Act the Senate approved over the weekend and the House will take up this week.
Two ways to reverse a Social Security claiming decision
Beware of accidentally disenrolling in Medicare. If you keep Medicare coverage, you will need to pay your premiums directly to CMS.
Confusion over Social Security taxes and earning limits
Social Security's earnings restrictions disappear once individuals reach their full retirement age, but FICA taxes on income do not.
Proposed end of carried interest would mean tax hike for rich Wall Streeters
The tax deal in the Senate would eliminate the tax break used by private equity and hedge fund managers.
Sen. Joe Manchin rebuffs changes to SALT deduction
Several House Democrats have said their support of any tax-code changes is contingent on raising the SALT cap.
Inflation, Covid stoking retirement savings fears, says Nationwide survey
Two-thirds of Americans worry more now than they did last year about their retirement income, and 70% are concerned that Social Security will run out of funding.
Two essential retirement guides for women
Financial planning pioneers share their experiences and wisdom on the challenges of retirement.
Wealthy business owners are at center of fight over Biden’s tax plan
Senate Majority Leader Chuck Schumer’s tax plan is key to the Democrats’ economic package.
Social Security COLA could top 10% in 2023
Current inflationary trends point to the biggest benefit increase in 41 years, with June CPI showing a 9.1% jump over the last 12 months.
Social Security tax tips for the self-employed
Advisers often ask whether there's a way to minimize payroll taxes for small-business owners while maximizing future Social Security benefits.
Massachusetts orders Vanguard to repay investors $5.5 million for TDF taxes
Vanguard lowered the account minimum for an institutional target-date fund, causing a migration from the retail TDF, leaving those who held onto it in taxable accounts with a big capital gains bill.
Social Security program needs reform now
Congress continues to ignore the fact that Social Security's trust fund is expected to run out of money in 2035, which would result in a 20% cut in benefits.
What millennials should expect from Social Security
A projected 20% benefit cut in 2035 could significantly reduce lifetime income for younger workers, according to a new paper from HealthView Services.
Generating tax alpha takes much more than tax harvesting
Other practices that help limit investors' taxes include asset location, rebalancing and maximizing retirement income.
Senate Finance Committee to take up massive retirement savings bill
The measure would raise the required minimum distribution age, increase catch-up contributions for people between 60 and 63, and enable workers to withdraw emergency funds from plans, among its many provisions.
