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Financial advisors oppose state-level wealth tax legislation
An unusual coordinated effort among state lawmakers seeks to impose wealth taxes across the country, but advisors warn levies on assets will drive high-net-worth clients to lower-tax states.
Guaranteed income, advisors are pluses for those heading into retirement
Half of near-retirees are relying on self-education to understand Social Security and Medicare, while 53% plan to use an advisor to maximize retirement income sources.
Is direct indexing really new or special?
Direct indexing looks a lot like separately managed accounts, and SMAs may provide more control and flexibility for investors.
House votes to repeal funding increase for IRS
The funding fight could be bargaining chip at the center of upcoming debates over raising the debt ceiling and funding the federal government.
Study on Social Security says it pays to wait for payouts
A report by Wade Pfau and Steve Parrish concludes that retirees might not be willing to invest aggressively enough to ensure that claiming early and investing the proceeds generates high enough returns.
RMD quirks that IRA beneficiaries face in ’23
The provisions of the SECURE and CARES Acts, and the related IRS rules, are creating even more confusion about which beneficiaries are subject to RMDs this year.
Inflation lets wealthy Americans give heirs even more tax-free
Last year's inflation, the highest in decades, means married couples can now hand their heirs almost $26 million tax-free, $1.7 million more than in 2022.
Social Security expert starts phased retirement
Mary Beth Franklin, who launched her final career phase as a weekly columnist in 2012, will continue writing a monthly column for InvestmentNews.
No 2022 capital gains on Schwab exchange-traded funds
The asset manager announced that all 29 of its ETFs will avoid such distributions this year.
Delaying claiming Social Security beyond age 70
It sounds odd, since delayed retirement credits stop accumulating at age 70, but intentional late filing for benefits can shift income into the next tax year.
Don’t give up on charitable giving just yet
A bear market and inflationary pressures may have many Americans feeling less wealthy lately, but not necessarily less generous.
Lame-duck Congress eyes $100 billion tax-cut package
Republicans want tax breaks for private equity, manufacturers and businesses, while Democrats want to expand the child tax credit.
3 guaranteed-income strategies for an uncertain economy
Investors are clamoring for guaranteed-income strategies this year primarily due to an uncertain stock market and spiraling inflation.
No need to claim Social Security to cash in on COLA
Anyone who's 62 or older in 2023 will benefit from the 8.7% cost-of-living increase to benefits that was recently announced for next year by the Social Security Administration.
Blucora dumps tax software unit to focus on wealth management
The company intends to rebrand itself as Avantax, which is the name of its wealth management group.
Americans expect to work longer, save more for retirement, survey shows
Americans age 18 and older anticipate they'll need $1.25 million to retire comfortably, a 20% spike since 2021.
Deciphering a cryptic letter from Social Security
It’s a good idea to hold on to correspondence from the Social Security Administration to keep track of your benefits and understand any changes in the monthly amount.
Midterm elections a matter of personal politics for financial advisers
Advisers surveyed preferred that Republicans control Congress when it convenes in 2023 by a margin of 60% to 25%.
Inflation adjustment boosts IRS standard deduction, lifting take-home pay
Decades-high inflation prompted an unusually big tweak for 2023, and as a result, employees can expect to see less tax withheld from paychecks as soon as January.
IRS gives more clarity on how to report digital assets
In the 2022 tax form draft instructions, the agency explicitly says that digital assets include NFTs and virtual currencies.
