Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.
Clients who gain a working knowledge of "pro rata" rules and the various ways in which they affect taxpayers can avoid expensive mistakes and boost returns, according to Morningstar. The term "pro rata" is Latin for "in proportion," and this approach may help clients considering IRA conversions or mulling their distribution options from their retirement plans. -- Morningstar
-
How a couple wrote off cat food and other breaks that boosted refunds. Plus, how charity counts toward an IRA withdrawal.
February 14 -
There are ways around having to pay as much as a 50% penalty. Plus, inheriting Roth IRAs and designing more efficient retirement portfolios.
January 31 -
Moving investments into these accounts may optimize returns and boost savings. Plus, know your IRAs and the impact of Trump's proposals on income brackets.
January 25 -
Why it's a good time to invest even small amounts into 401(k) and Roth IRA accounts. Plus, avoiding the capital gains hit.
January 17
There are several preparations aging clients can make in advance of retirement to ensure they won't be paying Uncle Sam a fortune in taxes, according to the Motley Fool. This includes making the most of medical and mortgage interest deductions, picking investments that are exempt from federal taxes, such as municipal bonds donating to charity. -- Motley Fool
Taxes are one of life’s sure things, but clients can still make changes after the filing deadline. Here’s how.
Clients should carefully consider the strategy of spending more to shrink a tax bill, according to The New York Times. For example, buying a larger, more expensive house to claim a higher amount of mortgage interest doesn't necessarily deliver the payoff one might expect. -- The New York Times
