Tax breaks

Any gains on the sale of a property they've held for over a year may be taxed as much as 20%.

Retirement savers stand to gain more by investing their money instead of taking an interest-free reimbursement.

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

One option is to sell funds with lower or no estimated distributions, especially if possible savings will exceed trading costs.

Clients with children are advised to start saving early in a 529 plan to take advantage of the “tax-free or tax-deferred growth.”

With the net unrealized appreciation, workers can roll some employer stock into a taxable brokerage plan.

Under new rules, small business owners can offer their workers tax-free dollars to buy health coverage.

They are not required to pay taxes on income accrued from properties leased for no more than 14 days.

The firm joins a growing roster of asset managers taking advantage of new tax breaks for investing in low-income communities.

The regulator is looking into whether brokers made appropriate share class recommendations for the plans as a result of the new law.