Tax

From fees to severe penalties for missteps, a self-directed retirement account is something most savers should steer clear of.

The recent change in presidency is set to bring about substantial changes in the way high-net worth individuals are taxed in relation to capital gains.

Congress introduced bipartisan legislation aimed at changing the estimated tax payment deadlines to a uniform, quarterly schedule.

National Taxpayer Advocate Erin Collins pointed to continuing backlogs at the Internal Revenue Service and difficulty reaching telephone assistance in a report to Congress Thursday.

Eliminating the benefit often used by private equity firms is one of the reforms Biden and Democrats are planning to use to help pay for the biggest social spending expansion in decades.

The near doubling of the capital gains tax rate would have a large impact on the net profit from any sale of any capital asset.

(Bloomberg) — An unpleasant surprise for wealthy Americans lurks halfway through a 114-page document released by the U.S. Treasury late last month.

It’s counterintuitive, but the cash benefit of delaying payouts can outweigh rate increases, thanks to compounding over time.

These individuals have unique life experiences that shape who they are and planning for their financial goals requires an understanding of their distinct challenges, writes advisor Harry Gittelson.

Advisors will walk a fine line as they reinforce fundamentals while leveraging market and tax-policy uncertainty, says Clayton Bland of CliftonLarsonAllen Wealth.

The Internal Revenue Service is focusing on cryptocurrency tax evasion with virtual currencies like Bitcoin and nonfungible tokens, employing data analytics to uncover transactions that crypto users assumed were hidden.

The billionaire put into his account pre-IPO shares of Paypal, Facebook and Palantir valued at just $0.001, which then exploded in value.

House Democrats in high-tax New York, New Jersey, enlist help from firefighters, teachers and other union members to repeal the $10,000 SALT cap on deducting state and local taxes, including property taxes.

Pandemic-driven laws eased tax burdens on loans and withdrawals from 401(k) and IRAs, leading some clients to tap into their accounts while many others avoided a raid.

A combination of high valuations on companies and potentially higher levies in the future is proving to be a potent motivator for families to sell long-held businesses.

Some clients may have to pay the money back if their jobs or salaries change.

The $637 billion quant pioneer founded by David Booth has converted four equity mutual funds with $28.8 billion of assets into ETFs.

Fueled remote work and worries over tax hikes, financial advisors who live in expensive cities are trimming their personal tax bills by moving to low-tax and no-tax states.

The proposed changes are worrying investors and their tax advisors, especially the possibility of making them retroactive.

Group of Seven leaders are expected to endorse a plan to plug holes in the world’s leaky tax system when they meet this weekend.