Tax

Displaying 1659 results

Topic

Senate bill would expand pass-through tax deduction to advisers

The bill, which was written by Senate Finance Chairman Ron Wyden, D-Ore., would limit the benefit to individuals earning less than $400,000 a year.

Topic

Assessing the tax implications of Bitcoin

The IRS has clearly communicated that cryptocurrency assets are taxed when they are traded, but this is news to many of the investors who own cryptocurrencies.

Topic

3 steps to prepare wealthy clients for higher tax rates

In the current tax-the-rich political environment, the wisdom of getting wealthy clients the insurance of an alternative citizenship or residence is obvious.

Topic

Senate retirement bill includes tax break for financial planning

While the provision helps level the playing field, prominent industry observers, like Michael Kitces, worry the benefit is too narrow. Investment Adviser Association, and other groups, are pushing for a broader tax deduction.

Topic

Time’s running out for a mega qualified charitable distribution!

2021 is the last year your clients can use their retirement funds for unlimited charitable giving as a result of provisions in recent tax laws.

Topic

Private equity fights to keep tax break

A lobbying group for PE firms is rolling out ads targeting 25 members of Congress to try to protect the carried interest tax break.

Topic

Biden wants to dismantle two tax strategies used by richest 0.1%

Technical provisions in the administration's tax proposals could disrupt dynasty trusts and intentionally defective grantor trusts, two ways that super wealthy people have legally avoided taxes for decades.

Topic

Beware the sleight of hand in ProPublica’s pitch to tax the wealthy

A sensational report arguing that the wealthy don't pay their fair share of income taxes starts to crumble when percentages are replaced with real money.

Topic

ProPublica report stokes debate on wealthy paying fair share in taxes

Advisers remain wary of President Joe Biden's proposals to raise capital gains taxes, which face political obstacles in Congress. There’s almost no chance any Republicans will support the administration's tax proposals.

Topic

Roth conversions may not pay off until age 90 for most

Tax-rate changes have minimal effect on the financial benefits of Roth conversions, Edward McQuarrie, professor emeritus at Santa Clara University, wrote in a recent paper. The most important factor is actually compounding.

Topic

Advisers blast Biden’s retroactive capital gains proposal

The effective date for the capital gains tax hike would be April 28, 2021, when the American Families plan was introduced, according to the Treasury Department’s Greenbook, a compendium of revenue proposals for fiscal 2022 that was released with the administration's $6 trillion budget proposal in May.

Topic

Biden tax plan forecast to bring in $3.6T in decade

The biggest surprise in Biden’s tax proposal is that it assumes an increase in the capital gains rate would be retroactive to April 2021, which would prevent wealthy people from selling off their assets quickly to avoid the hike.

Topic

Biden’s budget would raise annual spending to $6 billion

The budget will assume the increase in the top capital gains tax rate to 43.4% that Biden has proposed will be effective retroactive to late April.

Topic

IRS clarifies the 10-year rule, but with added confusion

The agency released a revised version of its publication covering rules on inherited IRAs that confirms there are no RMDs required during the 10 years. But the publication raises another question.

Topic

Bid to protect farms from capital gains signals Democratic resistance to some tax hikes

President Biden likely will need to keep all Democrats on board to get his spending and related tax proposals through Congress.

Topic

Targeting tax cheats

President Joe Biden's plan is designed to boost IRS funding to lower the tax gap and raise $700 billion over 10 years.

Topic

Heeding tax winds, advisers chart new financial tactics for clients

Tax planning has become an urgent topic following President Joe Biden's proposal aimed at high earners and wealthy investors.

Topic

Advisers underwhelmed by Biden’s first 100 days

An unscientific poll of readers found 61% disapproving of Biden and 60% opposing his proposed tax increases. The survey was released on April 29, Biden’s 100th day in office.

Topic

Brokers raise billions for green land deals IRS calls tax scams

Expanded government crackdowns on syndicated conservation easement land deals are creating financial and legal headaches for some wealthy investors.

Topic

Biden tax hike could boost RIA M&A: Rudy Adolf

President Joe Biden is considering a proposal to almost doubling the capital gains tax rate for wealthy individuals to 39.6%. The looming increase could add urgency to the market.