Tax

At the center is a pledge not to increase rates on those making less than $400,000, and that various changes would only impact earnings above the threshold.

The CARES Act will play a critical role, according to Grant Thornton.

The agency began digging into the massive tax law addressing issues that needed immediate clarification.

Though notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them.

Like other firms, the bank's asset management unit has turned to an outside partner, 55ip, to give RIAs a tax-smart way to transfer assets into model portfolios.

Whatever the outcome in November, taxpayers and their advisors should prepare for changes, an expert says.

While the contributions aren’t deductible, distributions such as earnings are tax-free to the designated beneficiary if they’re used to pay for qualified disability expenses.

The agency issued guidelines scaling back a tax break for client entertainment, following through on an element of President Trump’s 2017 tax overhaul.

The final regulation includes guidance on the requirements needed for properties to qualify for the deduction.

Under the proposals, the top 0.1% of earners would be subject to a 43% tax rate on their income.

The executive order provides "temporary relief for employers" to “pay the employee portion of Social Security payroll taxes,” confirms Republican Rep. Kevin Brady.

Clients may have an ability to increase the ratio of after-tax dollars in their account by completing one or more transactions that are exempt from the pro rata rule.

To protect client nest eggs, advisors must know which savings vehicles are protected — and they’re not all created equal.

“Everyone is looking ahead to the elections and what tax policy could look like in various administrations," says Ben Huneke, head of investment solutions in the firm's wealth management division.

“Americans are relying on Social Security more than ever during this pandemic,” House Ways and Means Social Security subcommittee chairman John B. Larson wrote.

One problem is the proposal is focusing on the minor advantage of tax-deferred retirement plans, says Bloomberg columnist Aaron Brown.

Effective tax management can add 1% percent to a portfolio annually, and potentially more in highly volatile years

Waiting until year end to factor in portfolio volatility is risky business.

It may seem counterintuitive, but paying appreciably more taxes in 2020 could save families a lot of money down the road.

Trump’s order defers the payment deadline to the end of the year, though Treasury Secretary Steven Mnuchin has said company participation is optional.