Tax strategy scan

The first step is to account for any obligations or costs, an expert says.

The right debt strategy can help clients make better decisions with capital allocations.

The American Opportunity Tax Credit can save clients $2,500, while they can claim up to $2,000 with the Lifetime Learning Credit.

Less than $5 million in gross receipts during a five-year period and qualified R&D expenses are required.

Clients could face a 100% penalty of taxes owed for filing late.

Clients under 35 are the only age group with a negative savings rate. These tools can help them prepare.

Giving securities that have appreciated in value allows investors to claim a deduction and avoid capital gains taxes if they opt to sell the shares.

Certain laws may require them to maintain the coverage with their former spouse.

Making excess withdrawals could result in taxes on the earnings and a hefty 10% penalty.

Congress may have a difficult time closing tax code loopholes that benefit households more than corporations, an expert suggests.

If clients tap their Roth accounts at the wrong time, even after retirement, they could lose out on some potential tax benefits.

The agency says its adoption of WebEx will allow for improved outreach with clients in the more rural regions of the country.

Only 3% of households earning under $50,000 a year benefitted from the mortgage interest tax deduction.

With smaller paychecks and longer life expectancies than men, one strategy includes moving their IRA assets into a Roth to reap the tax advantages.

Here’s how receiving investments on a stepped-up cost basis can save a client’s inheritance.

Lawmakers are considering scrapping individual deductions, including tax breaks for certain plan contributions.

Beneficiaries owe no federal tax on collected payouts after the policyholder dies.

Stocking away income in company-sponsored plans can provide corporate executive clients tax-free compounded growth on investments.

Clients are advised to put their savings in accounts with differing tax treatments to better manage the burden in decumulation.

Claiming the earned income tax and child tax credit may get tougher under Trump’s 2018 budget plan.