Tax News from Financial Planning

Claiming Social Security early might seem counterintuitive for the ultrawealthy, but one advisor says that when the benefits are used to fund life insurance in an irrevocable trust, the strategy could pay off for heirs.

Innocent client missteps can retroactively zero out balances in the alternatives-rich, held-away retirement accounts, with the advisor none the wiser.

If you have clients with college-age children earning money from their name, image and likeness, are they responsible enough to handle it and protect it?

Merrill, BMO and Schwab are among many firms helping clients take out security-backed loans against market gains to avoid capital gains tax hits.

Allowing clients to surrender or lapse life insurance policies before gauging value on the secondary market amounts to a fiduciary fail, argues Cole Hallman of Citizens Life Group.

Parents who don't effectively communicate estate plans to their children set them up to fail financially, emotionally and relationally.

Financial advisors can differentiate themselves by knowing when to apply the tax-friendly strategy — and when to take a pass.

The 10 states that offer the best return for residents' tax dollars.

The expansion of cryptocurrency, stablecoins and tokenized assets means more complexity at tax time, including a brand-new form to manage: 1099-DA.

As RIAs look to offer more holistic planning, many are partnering with CPA firms to deliver tax expertise without the cost and complexity of building it in-house.

Tax planning is becoming a more popular holistic offering for financial advisors, but tax time can become hectic.

State and local tax burdens vary widely depending on how taxes are structured. A new WalletHub study provides a definitive ranking.

The unit will now be renamed Threadline Wealth, backed by investment from the Cynosure Group, and have $5.8 billion in client assets under management

A well-intentioned tax move can push retirees over a Medicare income threshold, leading to thousands in unexpected annual premiums. Here's how advisors avoid these costs.

At the T3 Conference, leaders discussed how showcasing the value of the new tools can help advisors connect with clients.

Questions this season reflect confusion about 1099 income, new OBBBA deductions and retirement considerations, according to data from online expert platform JustAnswer.

New Tax Foundation research reveals which households and regions gain most from President Donald Trump's One Big Beautiful Bill Act.

A new bipartisan bill would exempt retroactive Social Security payments from federal taxes, easing a surprise financial burden for millions of retirees.

New proposals in seven states could soon subject over half of all U.S. millionaires to targeted high-earner tax rates.

Donor-advised funds should be temporary vessels, not permanent endowments. Here's how financial advisors can keep them from becoming philanthropic dead ends.