Taxes

Thousands Are Eligible for Tax Refunds From 2020

There’s still close to a month left for 940,000 people to file and collect refunds that are typically over $900.

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.

Latest News

Families to Save $10 Billion Annually in Credit Card Late Fees

This estimate comes from the Consumer Financial Protection Bureau, whose new rule capping late fees at $8 is effective May 14.

Windfalls from Home Ownership Start to Erode

While first-quarter home-sale prices were up in most markets, other measures show residential real estate may not be as stable as it appears.

Wealth Enhancement Group Acquires $809M Retirement Advice RIA

The partnership with The Retirement Group in San Diego brings the firm’s total client assets to more than $82.7 billion.

Yes, There Is a Best Day of the Week to Book Your Flight, Study Confirms

In general, early-in-the week bookings can save you the most money, but it depends on the airline, a survey of domestic flights finds.

Rent Increases Vastly Outstrip Wage Growth in These Markets

A new Zillow analysis shows U.S. rents have surged in most markets over the last five years — but a couple cities are clear leaders.

Oklahoma Financial Advisor Duo Managing $200M Joins Raymond James

The husband-and-wife team of Mike and Shaley Sikes of Edmond, Okla.., previously was affiliated with Edward Jones.

Demand for Advisor Services Soars, Annual Industry Survey Reveals

The ranks of financial advisors surpassed 1 million in 2023, according to the Investment Adviser Industry Snapshot.