Taxes

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)

Mega Roths Help Clients Boost Savings, Lower Taxes

As an advisor, there’s a lot you can do to help clients get the most out of their retirement savings accounts. (By Monica Dwyer)

What’s in the New Tax Deal?

The $78 billion package would expand a tax benefit that provides money to parents and restore three popular expired business tax breaks.

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SEC Charges Investment Advisors for Overstating Use of AI

The two firms will pay $400,000 in total civil penalties for false marketing and the SEC is on the lookout for more offenders.

JPMorgan Fined $348 Million for Lapses in Trade Monitoring

The bank had failed to account for “billions of instances of trading activity” on as many as 30 different platforms, regulators said.

Top-Heavy Market Doesn’t Mean Steep Correction. Here’s Why

It's been 100 years since the market has been this top heavy, giving rise to understandable fears. History suggest those fears are overdone.

Judge: Minority-Business Agency Can’t Consider Race

A federal judge in Texas has barred a government agency from using race to reject entrepreneurs looking for assistance.

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.

Annuities Continue March Upward

Annuities saw an impressive boom in 2023, with sales reaching a new all-time high, LIMRA announced.

Financial Discipline Among Americans Sliding, Study Shows

People are doing less planning and feeling more financially insecure, Northwestern Mutual's latest research finds.