Tax Planning
The latest news and developments that advisors need to create meaningful tax planning strategies for clients.
Social Security COLA for 2023 Estimated at 9.6%
By Dinah Wisenberg BrinWhile lower than last month's 10.5% prediction, it would be the biggest increase since 1981.
August 09, 2022
IRS Gives 3-Year Extension on Secure, CARES Act AmendmentsIt's giving "retirement plan sponsors and IRA custodians more time to amend their documents," Ed Slott says.
August 08, 2022
SALT-Expansion Dreams Die as Biden Tax Bill Heads to HouseDemocrats had threatened to tank the bill if it failed to include the valuable tax break, which largely benefits those in high-tax states like New York and California.
August 08, 2022
A Game Plan for 'Overnight Millionaires'Newly rich families have five core needs that advisors should address when creating a comprehensive financial plan.
August 08, 2022
2 Ways the Inflation Reduction Act Hits the WealthyTaxpayers earning over $400,000 will likely face more audits, according to Jeff Bush of The Washington Update.
August 07, 2022
Winners and Losers in Democrats' Signature Tax and Energy BillHere's a look at which groups and politicians come out on top and who takes a hit from the landmark bill, which now moves to the House.
August 07, 2022
Senate Passes Landmark Tax, Drugs and Climate BillThe legislation aims to prevent large firms from exploiting tax breaks and to let Medicare negotiate drug prices.
August 05, 2022
Wealthy Americans Escape Tax Hikes in Bill But Would Face Beefed-Up IRSTop-earners should prepare for audit levels not seen in decades, including reviews of complex financial dealings like cryptocurrencies and offshore investments.