Tax strategy scan

Overall donations to charity organizations fell by 1.7%, while total individual giving decreased by 1.1%, the first drop since 2013.

Clients won't be taxed as the result of a deal if they hold the shares in ETFs or index mutual funds.

Despite changes in the new law aimed at scrapping a penalty for most new couples, those from high-income households may owe more this year.

Under new rules, small business owners can offer their workers tax-free dollars to buy health coverage.

Well over half say they would back Sen. Elizabeth Warren’s plan to tax those with more than $50 million in assets, a survey finds.

The legislation nullifies a strategy that previously allowed heirs to stretch an inherited account's tax-deferred growth based on their life expectancy.

The agency is asking taxpayers to account for multiple jobs within a household and to factor in the $2,000 child tax credit for each kid under 17.

With income taxes attached to hardship withdrawals, they are often advised to carefully weigh other options.

They are not required to pay taxes on income accrued from properties leased for no more than 14 days.

In one case, a 6-year-old owed $7,000 in federal taxes two years after his father, a U.S. Navy senior chief petty officer, died of a heart attack.

“People didn’t want to use up their estate tax exemption,” but that has changed as a result of the new law, an expert says.

As retirement horizons grow, the rich are less willing to focus on generational wealth transfers.

The earlier they begin planning, the easier it'll be to avoid a big tax hit.

The strategy only applies to investments held in taxable, not tax-favored, retirement accounts.

Clients who owe the IRS should pay their taxes by April 15 even if they have already secured an extension.

Those who fail to meet the cutoff face a penalty equivalent to 50% of their required minimum distribution.

A higher standard deduction makes itemizing deductions less valuable.

The regulator is looking into whether brokers made appropriate share class recommendations for the plans as a result of the new law.

Changing filing statuses and maxing out deductible contributions to IRAs and HSAs are some ways clients received bigger reimbursements.

Those who fail to repay their loans on time may face early withdrawal penalties.