Tax planning

A COVID-wrecked economy has changed the calculus for some financial planners.

The agency’s commissioner is upbeat, but tax preparers and financial planners worry that this year could be especially chaotic due to the COVID pandemic.

Unexpected windfalls and limitations may accrue to WFH clients — and their financial planners.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

Your clients may have heard conflicting advice — they must change their IRA beneficiaries, spend down their IRA as soon as possible, dismantle their trust, or immediately convert their traditional IRA to a Roth IRA, Sophia Duffy writes.

Experts have identified a dozen credits, deductions and more as worth particular attention this year.

The simplest method involves having one traditional IRA and one Roth IRA, making one annual non-deductible contribution to the traditional IRA, and converting it before any gains or interest accrues.

Tax professionals are starting to hear questions from their clients ahead of the official start of tax season about a variety of issues related to COVID-19.

While qualified contributions won’t necessarily give clients the biggest tax bang for their buck, there are exceptions to the rule, Jeffrey Levine writes.

If your clients are owners of a passthrough business entity, you may want to investigate whether or not electing-in to a state’s SALT Cap work-around is advisable.

Biden’s Treasury secretary pick promised to “work with members of Congress” to decide whether the HNW will be protected from any reversal of Trump tax cuts.

The proposal includes a wave of new spending, including more direct payments to households and an expansion of jobless benefits.

The combination of wealth management with supporting sectors attracted investors to two major deals.

The Internal Revenue Service is increasing many of the fees for requests for private letter rulings by 26.7 percent, starting Feb. 4.

Despite lofty markets, offering a “lazy” portfolio may doom a number of ill-prepared planners in the coming year, our columnist warns.

A deep dive into all the critical questions, strategies and tax planning moves for clients and their university-bound children.

The program should do more to help the economy adapt to post-virus realities, writes economist Michael R. Strain.

Some advisors say they’re busier than ever in the last weeks of 2020.

Here are some obvious and not-so-obvious year-end tax tips to consider as we prepare ourselves and our clients for the new year.

The potential for higher rates in 2021 is real, but exactly what the rate would be, and who would pay those rates, is far from certain.