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House passes tax bill, focus turns to Senate
Tax reform legislation expected to have more of a challenge in upper chamber.
Changes to Senate tax bill affect pass-throughs, Roths
Modifications make it easier for some advisers to get a business tax break, repeal the ability to recharacterize Roth accounts, and add uncertainty by making individual cuts temporary and injecting health care into the debate.
Morningstar’s tax-cost ratios beat its fund rankings
Instead of letting clients assume the fallacy of performance outliers, help them with tax-smart asset location.
Repealing estate tax could open new path to wealth for clients
The solution may be for legislation to preserve the step-up in basis for inherited assets.
Senate tax proposal gives deduction for pass-through businesses
Both bills exclude all but small investment advisory firms.
Tax reform: House bill revisions include lower pass-through rate for small businesses
Last-minute changes also include restoration of adoption credit and elimination of limits on interest deductions for car dealers.
Prepare clients for an untimely end to Roth conversion do-overs
If the tax bill becomes law, the recharacterization repeal will be effective after 2017
Tax reform: What advisers need to know about the Senate bill
Some key differences from House bill include how mortgage deduction and estate taxes are treated.
Tax reform: Advisers spy loopholes in proposed pass-through tax rules
The House bill seeks to limit the 25% rate to manufacturers, but will still creates opportunities for strategic tax management.
GOP tax plan creates surprise divorce penalty
Elimination of alimony deduction could complicate future divorce settlements.
Someone tried to hack my Social Security account
Government website offers tips to protect personal data, but gaps may remain.
Tax reform: Advisers will have plenty to digest as legislation works its way through Congress
Provisions in the tax bill will affect advisers and their clients alike.
Tax reform: How the House bill changes rules for retirement savings
While pre-tax 401(k) contribution limits are off the table (for now), the Republican tax bill nonetheless makes changes to retirement savings plans.
Brace clients for a big capital gains season
Market-driven gains and active-fund outflows mean high distributions.
Tax reform: What advisers need to know about the House bill
The proposed measure leaves 401(k) plans alone, but makes sweeping changes in many other areas, including mortgages, property taxes, pass-through income and charitable deductions.
Why the House tax bill could be a ‘bonanza’ for advisers
Clients may need to navigate shifting tax brackets, re-characterizations of Roth IRA conversions, reconsidering the value of charitable contributions, and restrictions on the mortgage interest deduction.
Advisory firm owners unlikely to see windfall on tax returns from House bill
Proposed legislation is designed to give manufacturers the lower 25% tax rate, not professional service firms such as financial advisers, lawyers and accountants.
Retirement-savings advocates to mobilize forces if tax-reform plan cuts benefits
If 401(k) pre-tax contributions are curtailed, several groups plan to launch nationwide campaigns against the effort.
Ted Benna, father of the 401(k), thinks tax reform that favors Roths is ‘pretty stupid’
He believes reducing the pre-tax contribution limit on traditional 401(k) plans and encouraging 'Rothification' would lead the middle class to save less for retirement.
Maximizing the tax benefits of mortgage interest, home equity loans
Understanding options with residential deductions is a great way to add value for clients.
