Fiscal Cliff Tax Backlash: 4 Hits Your Clients Will Take—A Case Study
As fiscal cliff negotiations continue in Washington, a case study of the four major tax repercussions of a typical client couple should we go over the cliff.
‘Haves’ Urge Stronger Estate Tax Proposal in Fiscal Cliff Talks
‘I can afford to pay the estate tax’ is a recurrent theme among wealthy supporters of a $4 million exemption, including a Disney, a Rockefeller, a Gates and a few folks named Buffett and Bogle.
Employer-Sponsored 401(k) Plans Would Drop ‘Significantly’ if Tax Treatment Curtailed: Study
A new report has found that curtailing the current U.S. tax treatment of contributions that workers and their employers make to 401(k) plans will “significantly reduce” employers’ willingness to sponsor plans.
Erskine Bowles: 40% Chance of Cliff Deal
Like the lottery, maybe he’s just playing the ages of his kids.
11 Senators Unite on Resolution to Protect Retirement Tax Incentives
With fiscal cliff negotiations putting tax incentives for retirement savings potentially on the chopping block, 11 senators have voiced their support for the employer-based retirement system by joining forces on a Sense of the Congress resolution.
Will U.S. Kick 401(k) Subsidies Off Cliff?
At a time of nearly desperate negotiations to find savings needed to avert the fiscal cliff, ending the taxpayer subsidy–to the tune of $100 billion–of retirement savings accounts seems to many to be a no-brainer.
Sen. Harkin: Fiscal ‘Slope’ Hiding ‘Retirement Deficit’ Crisis
Sen. Tom Harkin, chairman of the Senate HELP Committee, said Thursday that he was confident lawmakers “would address it," and that Congress “may vote on a debt limit extension" on Thursday afternoon.
To Avoid Fiscal Cliff, 401(k) Plans May Fall Off Deep End
Advisor Brett Goldstein says possible deals to cap contributions could shutter plans, hurt low-income employees particularly and see contributions plunge up to 65%.
Year-End Tax Strategy: Pairing a Roth Conversion With a DAF
A year-end tax planning strategy that may be just right for some clients facing the likelihood of increased income tax liability.
What Will the Possible Fiscal Cliff Plans Cost Your Clients?
Your bread-and-butter client, an upper middle-class family with two children, earning $147,000 a year, would see their tax bill rise by $7,323 if we go over the fiscal cliff. They would fare better under the plans of the two political parties.