Tax cuts

“My clients are hard-working young professionals on Wall Street. I don’t have a lot of good news for them,” said Douglas Boneparth, an advisor in New York who counsels people throughout the industry.

The revised GOP tax bill lets investors keep the flexibility to sell whichever shares they want.

Some brokerage firms are concerned that the tax overhaul could spur their employee advisors to set up their own shops or switch firms to lower their tax bills.

The bill will include “no changes” to popular 401(k) retirement plans, according to a House memo, and it’s not expected to repeal the Obamacare individual mandate.

Many of the president's "core principles" were similar to promises he made on the campaign trail, including a reduction to 15% in the rate for businesses.

The proposal includes cuts that would benefit businesses, the middle class and certain high-earning individuals but left unanswered questions about whether the plan would be paid for, or how.

Confusion among affluent taxpayers could lead to new ways to help clients.

Republican presidential candidate Donald Trump described an economic plan that he said would create “the biggest tax revolution since the Reagan tax reform” and “cut regulations massively.”