Tax

Taking the prize in annual installments over 29 years, rather than all upfront, dramatically increases the windfall. Lottery victors with seven-figure winnings can also reduce their tax bill.

Taking losses is the silver lining to this year's 20% market decline.

A financial planner can complement the CPA through the stressful process by taking on a number of supporting — yet crucial — roles.

By keeping an eye on the future and potential new tax developments, tax advisors can offer their clients a sense of stability and proactive tax planning.

As wealth management firms and advisors increasingly wear two hats, it's getting harder for investors to know when they're overpaying for products and advice.

There's not much wiggle room for further reductions, especially in an uncertain economy.

The flow of money from private foundations to donor-advised funds has jumped substantially in recent years, highlighting the increasing use of a controversial loophole in charitable law, a new audit shows.

A lucrative deduction for luxury vehicles used at least half the time for business will start tapering come 2023.

"ERC mills" are encouraging applications for the tax credit from businesses that may not qualify for the pandemic relief program.

Recent cost-of-living adjustments have made waiting to claim the benefit more lucrative.

Inflation adjustments to tax brackets mean many Americans will owe less money to the IRS. But persistent inflation may erode the boost.

A new tax form for 2022 returns that will be filed next year clarifies how investors should report digital assets.

More than 60 tax provisions are going up, according to Rev. Proc. 2022-38.

But success depends on the outcome of the November midterm election, with a resounding win for one party likely inhibiting any compromise before a new Congress swings into action.

An IRS proposal has spawned confusion about whether non-spousal heirs to Roth plans need to take RMDs before draining the accounts after 10 years.

Florida, Texas and Arizona are the top destinations; the first two have no income tax, and the third is moving to a flat rate soon.

Advisors are telling recipients not to get used to such large adjustments.

Ignore the stigma of borrowing from your retirement plan — a life raft for cash crunches — but be aware of the rules.

Beneficiaries won't get hit with a 50% penalty for not making withdrawals in 2021 and 2022 — an unexpected move by the IRS. But questions still remain.

New rules on "portability" mean that a surviving spouse can lock in her deceased partner's exclusion years after exemption levels decrease come 2026.