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Market correction puts Roth conversions on the front burner
The tax implications of an IRA conversion are far from automatic and can be difficult to forecast this early in the year.
Choosing between survivor and divorced spouse’s benefits
Age, work status and benefit amounts dictate which Social Security benefit to claim first.
2023 Social Security COLA could be biggest in 40 years
The April report on consumer prices suggests inflation could result in an 8.6% cost-of-living adjustment to next year’s benefits.
Avantax boosts recruiting bonus to add advisers
Providing hefty bonuses to recruit financial advisers is like a sugar rush: sweet at first but it comes with a downside.
Social Security underpaid older children by nearly $60 million
Minor and disabled children are eligible for benefits when a parent retires or dies, and those benefits extend until the child is 18 — or 19 if still in high school.
New rules make IRAs less useful for transferring wealth: Ed Slott
Doing a Roth conversion is one way to avoid a tax hit later, Slott said, and life insurance is another, often-overlooked tool.
Vanguard clients decry tax debacle
Many Vanguard clients who invested in target-date funds face significantly higher tax bills this year because of a change the company made to its target-date funds in late 2020.
Advisers, brokers to continue paying Tennessee tax
The state imposes an annual $400 levy, the so-called privilege tax, on members of certain professions who do business in the state.
Social Security spousal benefits options
The opportunity to use a valuable claiming strategy will soon disappear.
FSI, FPA fight state-level taxes on financial advisers
A bill in Tennessee would eliminate a privilege tax levied on investment advisers. A proposal to tax financial advice was stopped in Kentucky.
Your RMD questions answered
New (and confusing) IRS rules about required minimum distributions raise new questions for advisers.
Social Security rules when divorcing a younger husband
An ex-wife must wait for her former husband to turn 62 to claim benefits on his record.
Supreme Court rejects state challenge to SALT deduction cap
The court refused to review a New York-led constitutional challenge to the $10,000 cap on state and local tax deductions imposed in the 2017 tax law.
Made a killing in crypto? Your tax bill is coming due
Digital tokens like Bitcoin and Ethereum are classified as property by the Internal Revenue Service and taxed like stocks and bonds.
Social Security rules when widows remarry
Survivor benefits can continue for those who wait until they're 60 to wed.
How Biden’s billionaire tax would hit the wealthy
Under Biden's plan, wealthy individuals would owe taxes on the unrealized gains of their assets, in addition to realized gains, a change that would upend long-standing tax principles.
Taxing financial planning services is not the answer
Proposed legislation in Kentucky that would tax services including financial planning and investment management could significantly harm the way Kentuckians save and plan for retirement.
Advisers place little faith in Biden’s ‘billionaire tax’
The proposal, which goes after households worth at least $100 million, enters unprecedented territory by trying to tax unrealized gains.
Biden to propose 20% tax aimed at billionaires
The tax, dubbed the Billionaire Minimum Income Tax by the White House, would hit both the income and unrealized gains of U.S. households worth more than $100 million.
The new IRS 10-year RMD rule isn’t what we thought it was
The big surprise was the IRS' announcement that if an account holder dies after their required beginning date, required minimum distributions would be required for years one through nine.