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Tilt odds in clients’ favor to win year-end Roth conversion bet
Congress has retirement accounts in its sights for future tax increases, but financial advisers can help their clients make some defensive moves now.
5 important Social Security issues for women
Discover 5 of the most common misconceptions your female clients may have about Social Security and how you can help them maximize their benefits as part of an overall retirement strategy.
Mega-IRA tax changes resurface in draft of House bill
The measure would place limits on individual retirement accounts, including preventing contributions to accounts once they reach $10 million, and give the IRS more oversight over them.
Democrats eye raising minimum tax rates to offset SALT expansion
An expansion of the alternative minimum tax, would require some top earners to pay more in taxes.
Plan to suspend SALT cap ‘unacceptable,’ Bernie Sanders says
House Democrats are considering a five-year suspension of the cap on federal deductions for state and local taxes, but the Vermont senator disapproves.
Wait-and-see works better than overreacting to possible tax changes
Listen to a particular client's needs rather than the noise in Washington, advisers said at the IN Retirement Income Summit.
Biden package boots many retirement, tax changes worrying advisers
The White House framework includes a 15% minimum corporate tax and a tax surcharge on wealthiest Americans, but leaves out an automatic retirement plan provision and changes to IRA rules
Biden attempts to end deadlock with $1.75 trillion package
The administration believes the package, which includes tax increases and climate and social welfare spending, can pass Congress.
Democrats’ tax on billionaires targets about 700 people
The plan, sponsored by Senate Finance Committee Chairman Ron Wyden, would require the richest Americans to pay taxes annually on appreciation in publicly traded assets, such as stocks and bonds.
Democrats introduce bill to expand Social Security benefits, payroll tax
The bill would increase the average benefit by 2% and impose the payroll tax on wages above $400,000.
Advisers worry billionaires tax proposal would expand to other income levels
An annual levy on the unrealized capital gains of ultra-wealthy people 'is a slippery slope' that could draw in millionaires and more, one adviser said.
Managing your clients’ expectations around Social Security
Don’t let clients sabotage their retirement plans because of fears about the program’s finances. Advisers can help clients put trust fund solvency woes into perspective.
Tax hikes could fall away as Democrats shrink Build Back Better bill
But an executive at Schwab says increasing the top capital gains rate and lowering the estate tax exemption could make it into a compromise measure.
Do you have undisclosed crypto? If so, it’s time to decide your future
Claims that crypto is 'untraceable' and the 'perfect tax haven' have been exploded. Those who bought into this mythology have to decide what to do.
Social Security announces 5.9% COLA for 2022
The cost-of-living adjustment will result in the largest increase in retirement benefits and taxable wages in 40 years.
UBS sued over muni-bond snafu that cost clients
UBS Financial Services misreported interest paid on taxable munis, resulting in higher tax bills for clients, according to a lawsuit.
Almost half of retirees won’t have enough income by 2090
A report from the Urban Institute found Social Security cuts, tax increases, longer working years and higher savings levels are needed to keep retirees from funding crises in the coming years.
Ultra-rich have a tax problem: Not knowing when to sell
Legislators are preparing to raise taxes on those earning more than $400,000, but almost everything about the tax package is up in the air, including the new rates and when the various provisions go into effect.
Media coverage of Social Security could affect claiming age
A new study from the Center for Retirement Research at Boston College found news reports could lead to misconceptions about Social Security trust funds, and could influence retirement savers to claim earlier than otherwise planned.
Putting Social Security’s financial outlook in perspective
The acceleration in the projected depletion of the trust fund is bad, but given that this was the first report to include the effects of the pandemic-induced recession, the news could have been worse.
