The U.S. and Swiss governments have agreed on most major disputes in Washington's effort to get names of thousands of wealthy Americans suspected of evading taxes by hiding billions in assets with Swiss banking giant UBS AG.
Most money managers who strive to be tax-efficient harvest losses year-round.
The love affair financial advisers have enjoyed with American Funds has cooled.
Financial advisers who have sold certain types of retirement and other benefit plans to small businesses might soon face a wave of lawsuits unless Congress takes action.
To deal with the “Roth revolution” that starts next year, advisers' best tool may be a crystal ball.
There will be no cost of living increase for more than 50 million Social Security recipients next year, the first year without a raise since automatic adjustments were adopted in 1975, the government announced Thursday.
Contribution limits for 401(k) plans will remain unchanged next year, the Internal Revenue Service announced today.
Citigroup has been fined $600,000 today by the Financial Industry Regulatory Authority, <a href=http://www.forbes.com/feeds/afx/2009/10/11/afx6989203.html>according to multiple media reports.</a>
In his book “Integrated Wealth Management: The New Direction for Portfolio Manager” (Euromoney Institutional Investor, 2006), Jean Brunel educates us as to the benefits of asset “location” — not to be confused with asset allocation.
The Achilles heel of hedge funds — tax inefficiency — could soon send investors limping toward other options.
Dangle some cash and a lot of people are happy to turn in their employers for cheating on their taxes.
The insurance industry predicts a new boom in variable annuities as tax deferral takes the spotlight in the near future, but financial advisers and broker-dealers aren't convinced that this will help products fly off the shelves again.
Your client has invested in an LLC or LLP that sustains losses. Since the IRS considers him or her to be a limited partner, the losses are considered passive and the client is unable to offset salary and investment income with the losses.
The Senate bill contains tax credits for low- and middle-income families, but the House bill has proposals that would affect high earners.
Suppose your client decides to invest in the stock of a European company that is not traded in the United States. How would he report the transactions for tax purposes?
High-income earners are in the government's cross hairs — at both the federal and state levels — and there is little sympathy for those so targeted.
After the headlines about the IRS' going after secret Swiss bank accounts, investors are learning to their dismay that they could face fines and prosecution for failing to report other foreign assets, such life insurance, to both the IRS and the Treasury Department.
H&R Block Inc. said today it lost a larger-than-expected $133.6 million in the first quarter, about the same as a year ago, as acquisition expenses and other costs offset slightly higher revenues.
Many taxpayers believe that they are safe from Internal Revenue Service audits after a certain number of years have passed, but as Stanley Kirk Burrell — better known as Grammy-award-winning rapper MC Hammer — can attest, that isn't always the case.
A former investment adviser who once told the Internal Revenue Service that he had “citizenship in heaven”— and not the United States — was sentenced in a federal court in Dallas yesterday to 40 months in prison for setting up a series of sham offshore investments that worked as tax dodges.
