The IRS has put a damper on a tax saving strategy that has been used by some investors with fee-based accounts.
NEW YORK — Financial advisers and their clients aren’t giving the risk of becoming disabled the attention it deserves, according to disability insurance experts.
The chairman of the Senate Finance Committee said this morning that he would like to abolish the alternative minimum tax, but failing that, he expects that legislation delaying its impact on middle-income taxpayers will be approved by Congress this year.
WASHINGTON — House Democrats are hoping to appeal to the middle class with a plan to shift to wealthy taxpayers the responsibility for paying the alternative minimum tax, but financial advisers in general think that it is a bad idea.
CHICAGO — Even though tax season just wrapped up, financial advisers and tax specialists say that it isn’t too early to help clients try to avoid the alternative minimum tax for 2007 returns.
SAN FRANCISCO — David Byers was hired away last month from H&R Block Inc. to apply big company retailing tactics to The Mutual Fund Store LLC.
H & R Block announced today that it will sell its Option One Mortgage Corp. unit to private equity firm Cerberus Capital Management LP.
The IRS plans to issue final regulations for 403(b) plans by the end of June, and the changes could result in industry consolidation, particularly in the K-12 marketplace, observers said.
CHICAGO — A bill that would extend to domes- tic partners the preferred tax treatment enjoyed by married couples in employer-sponsored health-care plans is attracting attention from financial advisers.
By now, the merits of asset and stock diversification in a retirement portfolio are well established, but what about tax diversification?
Congressional members on both sides of the aisle are looking at using the alternative minimum tax debate to lead the way to a plan for tax simplification.
Advisers are using creative techniques to work within the dense tax code to help their clients reduce their tax payments.
IRVINE, Calif. — The Internal Revenue Service is threatening to bring more cases against wealthy investors who have used a popular technique to hedge concentrated stock holdings.
Two tax laws scheduled to take effect in the near future will combine to create new opportunities for your clients to convert their traditional individual retirement accounts and company plan balances to Roth IRAs.
OTTAWA — The Mounties say they have gotten their man in the insider scandal involving income trusts, but some observers doubt that he is the only person involved.
Although many brokerage firms are letting investors in on whether they have “shelf space” agreements with certain mutual fund companies, few are disclosing the details of those agreements.
KPMG LLP endured another blow in its tax shelter case this week, when a federal judge in Texas ruled that tax shelters based on fake bank loans are not legitimate tax write-offs, according to the New York Times.
The Senate approved the first increase in minimum wage in 10 years, bumping it to $7.25 per hour.
