Tax

The use of a SLAT to eliminate the risk of changes in the estate and gift tax system can help separate legacy assets from lifetime assets.

Joan Crain’s job is to guide the wealthy through complicated financial decisions where mistakes can cost millions of dollars. That task is proving particularly tricky now thanks to Joe Biden’s proposed tax plan and the lack of clarity over what the Democrats will pass.

The proposed law would ban all IRAs, regardless of size or owner’s income, from holding unconventional assets like stakes in private companies, real estate and startups.

Qualified small business stock may lose a lot of its value if congressional proposals go through.

The agency will consider whether to require affluent taxpayers to pay tax on transfers to trusts made under higher exemptions that expire come 2026.

Two of the most generous tax loopholes are on the chopping block, the latest surprise in emerging tax increases.

The effort to appeal to centrist Democrats fails to take into account gaping loopholes lawmakers must close if they plan to fund an ambitious spending proposal.

While Biden isn’t getting some of his proposed tax increases on the wealthy, some surprising new hikes may be in the works.

The bipartisan infrastructure bill includes requirements for brokers to report their customers’ cryptocurrency gains to the Internal Revenue Service, but exactly what constitutes a broker is stirring controversy.

Fighting among Democratic lawmakers over proposed hikes in individual and capital gains taxes is intensifying, creating more questions and opportunities for advisors.

Even professionals such as accountants and attorneys who may serve as trustees are unaware of the numerous risks that life insurance policies carry.

Using private placement life insurance to avoid taxes is getting more popular, some financial advisors say.

Will the giant tax incentive thrive as a tool to defer, minimize and eliminate capital gains tax?

ABLE accounts make it feasible for the disabled individual to express what they would like to do — and what they would like for themselves.

The IRS has blessed at least one approach to getting around the TCJA limitation — the entity-level tax.

A Treasury Department spokesperson gave an answer that provides clarity for advisors with affluent clients.

The $1 million threshold at which the 23.8% capital gains rate would nearly double has sparked questions — and a strategy for some well-paid professionals.

Experts and leading practitioners are looking at ways to mitigate the possible affect of the legislation from a tax perspective.

(Bloomberg Opinion) — More than 100,000 people who used to work or live in New York State have received notices from the tax department questioning them about their whereabouts last year and asking why they paid less to the state than they have in years past.

Advisors share a tax trick that allows professionals to build seven-figure retirement plans.