Tax strategy scan

Personal exemptions may be lost but households can expect higher savings from the child tax credit, an advisor says.

The right strategy can help minimize their future estate taxes.

Many deductions are likely to disappear if Congress passes the reform bill into law.

Clients should consider tax breaks such as education expenses, mortgage interest payment and small business costs.

Whether they have a mortgage does not affect the capital gains calculation, according to a CFP.

Retirement location "matters just as much to your tax bill as what you have,” an expert says.

The proposal aims to simplify tax subsidies by increasing qualified withdrawals from 529s in exchange for scrapping the Coverdell account.

While contribution limits are expected to remain untouched, the country is still facing a retirement crisis, one expert says.

Experts say 18-to-36-year-olds should take advantage of workplace 401(k) and Roth IRA tax benefits now and shop around for the best savings rates later.

One option for clients to consider is municipal bonds, which offer tax-free yields.