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Strategies include utilizing charitable trusts to split benefits between multiple beneficiaries and taking advantage of donor-advised funds.
May 26 -
By making the right moves, retirees can reduce their taxable income and owe less in capital gains taxes, an expert says.
May 14 -
Though IRA conversions during a market correction may enable some clients to save on their taxes, the strategy is not recommended for everyone.
May 12 -
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.
May 5 -
Despite the July 15 deadline extension as a result of the coronavirus, some taxpayers are advised to file early.
April 28 -
Clients may consider rebalancing their portfolio more often to address asset allocation shifts as a result of the downturn.
April 21 -
For starters, they can use the windfall to pay off debt, shore up their HSAs and build a cash reserve.
April 14 -
Cash-strapped taxpayers may consider waiting until the new deadline to pay or to request a payment plan to buy more time to settle their tax bill.
April 7 -
A revocable living trust is one way to reduce their estate taxes, however the law requires clients to sign the document in the presence of the notary.
March 31 -
If they plan to use them for current spending, “then the timing of the distribution would not matter for tax purposes,” an expert writes.
March 24