Tax strategies

Tax pros share what they’re telling clients about relief for the jobless during the pandemic.

Early withdrawals from retirement accounts may be unavoidable in today’s economic climate. You can help mitigate the damage.

The Internal Revenue Service and the Treasury Department issued proposed regulations Wednesday to update the income tax withholding rules for periodic retirement and annuity payments made after Dec. 31, 2020.

The new relief plan has something for many taxpayers, including retirees and the recently unemployed.

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

Given that I must disclose on my Form ADV that we accepted the aid, I had to ask myself difficult questions about possibly over-zealous regulatory scrutiny as well as my firm's reputation, this advisor writes.

By making the right moves, retirees can reduce their taxable income and owe less in capital gains taxes, an expert says.

Little-known provisions include the economic injury disaster loan program, the employee retention credit and even an option to defer some payroll taxes.

Though IRA conversions during a market correction may enable some clients to save on their taxes, the strategy is not recommended for everyone.

For clients fortunate enough to not need them, minimum distributions are not required this year in most — if not all — cases.

The rule change is designed to have an impact in the fight against COVID-19 and applies only to donations made to charitable organizations, an expert says.

There's a great deal of help for businesses in the CARES Act and the FFCRA.

The majority of U.S. workers do not have enough savings to help them in the event of a medical emergency and often turn to their retirement funds for help.

There are appealing methods to shift investments “upstream” to aging parents or “downstream” to grown children.

Find more information and the nomination form for Financial Planning's recognition of people, leaders and firms that have demonstrated innovation in response to the coronavirus pandemic.

Clients may consider rebalancing their portfolio more often to address asset allocation shifts as a result of the downturn.

Recipients of Social Security benefits, as well as railroad retirement and veterans benefits recipients, will need to act fast.

A rule designed to prevent simple deduction abuses brings significant complexity to planning.

For starters, they can use the windfall to pay off debt, shore up their HSAs and build a cash reserve.