Tax strategies

Here’s what managers at some of the largest firms have been discussing and say should be top of mind in the months ahead.

The administration's proposal for the capital-gains tax rate is in part a throwback to the Reagan years, an expert says.

A version of the administration's plan to close the step-up in basis loophole was floated by President Obama in 2015, but it died in a Republican-controlled Congress.

The new rate, up from the current 37%, would encompass less than 1% of taxpayers, a White House official said.

The administration’s American Families Plan includes a bump in the top tax rate to 39.6%, but doesn’t specify thresholds for different types of filers.

Some taxpayers, including those who aren't millionaires, have been hammered by the limit, writes Bloomberg’s Alexis Leondis.

If employees are a company’s greatest assets, then children are a person’s greatest treasure.

The administration's plan would eliminate a break that allows heirs to use the market value of assets at the time of a transfer, rather than the actual purchase price.

Residential property owners are the most likely to be impacted by proposed changes in the administration’s American Families Plan.

Many RIAs can qualify for this lucrative benefit. Here’s what you need to know this tax filing season.

A new initiative called Operation Hidden Treasure is only the latest in the service’s approach.

Permanent life insurance has a bad reputation. Here’s what financial advisors think about its potential for retirement planning if taxes rise under Biden.

Concerned that tax rates and IRS bills may rise under Biden, wary advisors note that Roth plans are not just for younger investors.

The Internal Revenue Service responded Tuesday to calls for extending more tax deadlines by giving taxpayers until May 17 to make IRA and HSA contributions and file some refund claims.

With the passage of so much tax legislation over the past several years, there is tremendous opportunity for savings and planning.

Advisors are urging clients to make tax-planning moves this year to preserve the preferential capital gains rate and turbocharge business deductions.

Guidance from the IRS can be confusing, explains Bloomberg’s Alexis Leondis.

“We need to study just what impact it’s had,” the Treasury secretary said during a House Financial Services Committee hearing Tuesday.

Yet another IRS change to tax rules amid the COVID pandemic is complicating tax-planning opportunities for financial advisors this filing season.

Collecting all unpaid income tax from the top 1% would boost revenue to the U.S. Treasury by $175 billion a year.