Tax Planning
The latest news and developments that advisors need to create meaningful tax planning strategies for clients.
New Mexico Eliminates Social Security Taxes for Many Seniors
By Ginger SzalaThe governor has signed a bill eliminating state taxes on benefits for those under certain income thresholds.
March 07, 2022
How to Eliminate Tax on Some Roth IRA ConversionsClients with after-tax IRA funds may be able to isolate basis and execute an entirely nontaxable Roth conversion.
March 04, 2022
Debate: Should Clients Use a Backdoor Roth IRA in 2022?Should high-income clients use this strategy while they can, or are they risking a tax headache in the future?
March 03, 2022
New Jersey's Governor Proposes Tax Rebates for Income Up to $250,000The proposal would apply to 1.8 million residents to help offset the nation's highest property taxes, averaging $9,284 last year.
March 03, 2022
Female Investors Become More Proactive in Financial PlanningCOVID-19 has significantly influenced how women viewed their finances, a Nationwide Retirement Institute study found.
March 03, 2022
How to Jump Into Pro Bono Financial PlanningHere are details on ways the FPA helps advisors volunteer their time and expertise to aid underserved and at-risk individuals and families.
March 02, 2022
Clients Can Tap 401(k)s and IRAs Early Without Penalty, but BewareThere's an exception to the IRS' early distribution rules, but it can be a minefield of tax hazards.
March 01, 2022
Sen. Wyden Calls for 6 Economic Actions Against RussiaCongress must address key areas to punish Putin for invading Ukraine, the Senate Finance Committee chair said.