Taxes

Unpacking the Generation-Skipping Transfer Tax

Here are planning considerations for advisors, plus some of its pitfalls and proposed tax changes that may limit its use. (By Keith Grissom)

A Near-Zero Tax Bill? No Thanks

Real tax planning is about more than just this year’s tax return; what looks like a great deal may not be. (By DJ Hunt)

IRS Alert: Weight-Loss Food Is Typically Not a Medical Expense

Companies are falsely claiming that FSAs and HSAs cover or reimburse general health and wellness expenses.

Trump’s Tax Cut Fueled Investment but Did Not Pay for Itself

Researchers from top universities and the Treasury Department say the 2017 corporate tax cuts boosted investment, but have been expensive.

Executives Traveling on Corporate Jets Face IRS Scrutiny

Do you have executive clients who might be using a corporate jet for personal use? Tell them the IRS has announced a crackdown.

Tax Planning for Special-Needs Families

Inherited IRAs can be a valuable planning tool for these clients if they know the rules they must follow. (By Kristin Carleton)

Congressmen Want SALT Cap Doubled — Temporarily

The cap on state and local tax deductions (SALT) would be doubled — at least temporarily — if a group of Congressmen get their way.

House Passes Bipartisan Tax Bill, but Election-Year Politics Complicate Its Path

The effort is a test of whether a dysfunctional Congress can pass major legislation in an election year.

Vermont Becomes Latest State to Propose Wealth Taxes

The effort is part of a broader push across the country by progressive groups that hope to shake up the tax system.

Wealth-Planning Moves for 2024

Tax Cut and Jobs Act provisions are set to expire in less than two years. Making changes to position clients may take a lot of time. (By Mallon FitzPatrick and Alicia Denton)

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Which Cities Have the Longest and Shortest Commutes?

Taking the car is faster and more expensive than using public transit, the Coast study of 100 U.S. metro areas confirms.

Former Army Financial Counselor Guilty of Defrauding Service-Member Survivors

He manipulated members of at least two dozen Gold Star families into transferring $9.9 million of benefits into accounts he controlled.

What’s Up with U.S. Energy Shares?

U.S. energy shares have soared this year, roughly double the amount of the broader S&P 500 index. Here's why.

Thera Elliott joins Raymond James Financial Services

The Boca Raton-based independent advisor switches from Wells Fargo, where she managed $105M in client assets.

Schwab AUM Fees Up, Profit Down

Schwab had a difficult 2023, the most challenging year for the company since the internet bubble burst in 2000, according to CEO Walter Bettinger.

Vermont Seeks to Mandate Workplace Retirement Plans

Vermont is looking to partner with Colorado to jumpstart its new auto-IRA program for private-sector workers.

Charitable Contribution Tax Scheme Ends in 8-Year Prison Sentence

The scheme, "The Ultimate Tax Plan," purported to offer high-income clients a way to reduce their taxes through false charitable deductions.