The policies of most interest to financial advisors, such as expiring estate tax breaks, could come up later in the year in negotiations over a bipartisan bill.
While the rules for claiming Social Security will get a bit simpler starting in 2024, clients will continue to need advice on the best time to claim benefits.
Mary Beth Franklin's show on Maryland Public television will offer guidance not only for individuals currently nearing retirement age, but also those caring for aging relatives or facing changes in their marital status.
Those due to receive their Social Security benefits next week are retirees aged 88 and older, along with low-income individuals with disabilities.
Just over half of women who are 25 and older said they don't consider themselves financially secure; 77% of low-income women said the same.
The Windfall Elimination Provision reduction rules affect about 2 million people or about 3% of Social Security beneficiaries.
The Inflation Reduction Act gives clients many reasons to make their homes more energy-efficient or get an electric vehicle, now or later.
If the IRS thinks a taxpayer owes money, its efforts to collect could include levying bank accounts, placing liens on their home, garnishing their salary, and even refusing to issue a passport.
'It's sort of like the nicest house on an ugly block, which, relatively speaking, is the best place to be,' said one advisor.
What better time to work with your clients on positioning their portfolios for a better after-tax outcome than when paying taxes is fresh on their mind?
If clients are holding NFTs in their individual retirement accounts, review them to see which tokens are acceptable assets and which may be deemed a collectible under IRS guidance.
Donors who have had their accounts for 10 years or more last year issued grants that were 61% larger on average than those from donors with a tenure of six years or less.
The last time the EBRI survey showed a decline in confidence of this magnitude was in 2008, during the global financial crisis.
The SECURE 2.0 legislation, tax rates and other changes can pave the way for conversations with clients about strategies around required minimum distributions, Ed Slott says.
Lawmakers talk about reducing the federal budget, but entitlements are off the table. 'It's not mathematically honest,' Jeff Bush said.
Now's a good time to take the tax hit on transfers out of an individual retirement account because rates are low.
Here are three tax insights you can pass on to your clients when you've exhausted all the customary ones.
Cash donations represented 40% of allocations to donor-advised funds at Vanguard Charitable in the seven months ended in January, up from 29% in the same period a year earlier.
The Allianz Life survey also showed fewer Americans than last year are worried about a major recession hitting the economy any time soon.
As this year’s tax deadline approaches, take a look at the states that impose the smallest tax burden on residents, according to a WalletHub ranking that takes into account property, income and sales taxes.
