Tax Planning
The latest news and developments that advisors need to create meaningful tax planning strategies for clients.
IRS Issues Tax Guidance for ‘Hardest Hit’ Homeowners
By Kate McBrideThough this may not apply to most clients of wealth managers, there may be, through “six degrees of separation,” some people within their sphere of influence that would benefit from IRS Tax Guidance, announced Wednesday.
February 23, 2011
Hearings Abound in March on Tax Code Reform, SEC Funding, GSEs, and DOL's 'Fiduciary'March is going to be a busy month for hearings, as the Senate and House tackle everything from reforming the tax code, housing finance reform, to the…
February 18, 2011
ASPPA Renews Call for 403(b) Audit ReliefNonprofit employers need flexibility from the U.S. Department of Labor to cope with new 403(b) plan Form 5500 filing rules, according to the American Society of Pension Professionals & Actuaries.
February 18, 2011
10 Tax Deductions That Can Save Clients MoneyDeciding whether to itemize or take the standard deduction became somewhat easier for the 2010 tax year when standard deductions for disaster losses, real estate taxes and new motor vehicle taxes and the Schedule L used to calculate them were largely eliminated for 2010, according to a statement issued Thursday...
February 17, 2011
New Credit Card Rules Benefiting Consumers, Advocacy Group SaysCritics contend that the numbers don’t tell the full story.
February 16, 2011
2010 Q4 Earnings: ING Profits Continue Recovery but Miss EstimatesING Group NV reported fourth-quarter profits on Wednesday of $586.5 million, $0.14 per share, compared with $1.4 billion in the third quarter, and a loss of $964.4 million in the same quarter last year.
February 15, 2011
Obama Budget 2012: Tax Changes Would Hit Wealthy ClientsHigher tax rates and fewer itemized deductions could raise taxes for those earning more than $250,000.
February 11, 2011
IRS Initiates New Tax Amnesty Plan for Hidden Offshore AccountsThe IRS on Tuesday announced details of a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income from hidden offshore accounts get current with their taxes.