Income taxes

While qualified contributions won’t necessarily give clients the biggest tax bang for their buck, there are exceptions to the rule, Jeffrey Levine writes.

If your clients are owners of a passthrough business entity, you may want to investigate whether or not electing-in to a state’s SALT Cap work-around is advisable.

Here are some obvious and not-so-obvious year-end tax tips to consider as we prepare ourselves and our clients for the new year.

The one-two punch of major tax laws passed within four months of each other creates some interesting puzzles for advisors to solve.

For some, estimated tax payments are a non-issue. Others may earn all of their income from sources that don’t withhold amounts for federal income taxes.

Under the proposals, the top 0.1% of earners would be subject to a 43% tax rate on their income.

Depending on the economy and the election, they could be on the chopping block as soon as 2021.

Several significant changes are probably in store for next tax season.

Gifting embedded loss assets can avoid a step-down in basis and preserve capital losses. Here's how to go about it, under several scenarios.

By law, these payments are taxable so clients will need to report them on their 2020 federal income tax returns.

Major donor-advised fund providers said they’re using webinars, podcasts, social media and emails to nudge clients to give.

Strategies include utilizing charitable trusts to split benefits between multiple beneficiaries and taking advantage of donor-advised funds.

Gauging any possible changes to their health insurance coverage is just one consideration they must address before they retire.

Designating charities as a beneficiary of their retirement accounts is one strategy that can enhance their tax savings.

The sweeping retirement legislation, called the Secure Act, is gaining plenty of headlines. One revision is being overlooked.

“The advice I give is to calculate the financial impact for each option,” an expert says.

With astute maneuvering, advisors can add money to a clients’ college-fund kitty without jeopardizing financial aid.

Adjusting a federal income tax return depends on personal tax circumstances, “such as the materiality of the error,” an expert says.

To help individuals and businesses prepare for filing season, Grant Thornton has released a collection of year-end tax tips.

Clients who own a business may be eligible for a 20% deduction as a result of tax overhaul. For those who don’t qualify, there are other savvy strategies