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Nonfungible tokens held in IRAs can trigger big tax hit
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.
Donor-advised fund generosity increases with time: Vanguard Charitable
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.
Pessimism about retirement rises amid inflation
The last time the EBRI survey showed a decline in confidence of this magnitude was in 2008, during the global financial crisis.
Tax hangover tees up client discussions about new RMD strategies
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 to push off Social Security reform until point of political pain
Lawmakers talk about reducing the federal budget, but entitlements are off the table. 'It's not mathematically honest,' Jeff Bush said.
Slott urges moving money from traditional IRAs and their tax ‘stench’ to Roth IRAs
Now's a good time to take the tax hit on transfers out of an individual retirement account because rates are low.
Tax insights your CPA never told you
Here are three tax insights you can pass on to your clients when you've exhausted all the customary ones.
Tax-loss harvesting produces bumper crop of charitable cash contributions
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.
Most Americans say they can’t count on Social Security for retirement income
The Allianz Life survey also showed fewer Americans than last year are worried about a major recession hitting the economy any time soon.
10 states that tax people the least
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.
10 states that tax people the most
As this year’s tax deadline approaches, WalletHub ranks the states in terms of the property, income and sales taxes they impose on residents.
Incorrect RMD notices may result in distributions that aren’t exactly ‘required’
The problem arose from the passage of the SECURE 2.0 Act late last year, which didn’t give financial institutions time to update their systems.
Hopes for bipartisan Social Security fix dim amid Biden-GOP tensions
Some members of an ad hoc group of lawmakers who are trying to fashion a deal say prospects have been diminished by President Joe Biden's accusations that Republicans want to cut benefits.
Social Security trust funds projected to be depleted in 2034
That's one year earlier than the trustees' report estimated last year; the report projects that 80% of benefits would be payable at that time.
Why you’re wrong about direct indexing
The strategy is meant to help advisors more precisely tailor a portfolio to a client's unique circumstances.
Fisher Investments becomes the latest example of high taxes driving people and businesses away
The $197 billion RIA is heading to Texas after Washington state refused to dial back a 7% tax on capital gains.
Fisher Investments moving headquarters to Texas from Washington state
Its decision follows a ruling Friday by the Washington State Supreme Court allowing the state to impose a capital gains tax.
Investors face big tax bills for these mutual funds
Even though the S&P 500 fell 19% last year, fund managers’ sales of securities to adjust their positions can result in capital gains.
Democratic senators take aim at estate tax strategies for ultra-wealthy
Sen. Elizabeth Warren, D-Mass., and three colleagues urge Treasury Secretary Janet Yellen to curb the use of grantor retained annuity trusts in the name of tax fairness.
Broadridge partners with Apex Silver on integrated tax reporting
The new service combines tax data and cost-basis reporting into a single offering for banks, broker-dealers and custodians.
