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Tax reform debate sparks fresh interest in donor-advised funds

November 21, 2017

The battle over tax reform in Washington has not been lost on financial advisers and investors looking to take advantage of existing charitable-giving rules. Kim Laughton, president of Schwab Charitable, said assets in donor-advised funds are...

Year-end charitable-giving strategies

November 21, 2017

The tax code provides high-net-worth charitable donors with strategic opportunities to make their philanthropic activities go further. Opportunities also exist that can minimize their income and estate and gift tax liabilities, increase the...

Should America's upper-middle class take the biggest tax hit?

November 20, 2017

Humans learn the concept of fairness at a very young age. After all, it doesn't take long for a child to start whining about a sibling who gets an extra serving of ice cream. As the Republican-controlled Congress tries to push through tax reform...

No-SALT diet could be financially unhealthy for some clients

November 17, 2017

Financial advisers are bracing for a no- or low-SALT diet for their clients. The Senate tax-reform bill, which was approved by the Senate Finance Committee on Thursday night, would get rid of all state and local tax deductions to help pay for...

Tax reform: Retirement industry dodges bullet as Senate and House bills advance

November 17, 2017

The retirement industry can breathe a collective sigh of relief today as the House and Senate tax bills advance in their respective chambers. Despite all the doomsday talk relative to setting strict limits on pre-tax 401(k) contributions and...

Senate committee approves tax plan but full passage not assured

November 17, 2017

Hours after House Republicans jubilantly passed their tax bill, their colleagues on the Senate Finance Committee approved a far different version -- one that postpones difficult questions as lawmakers rush to refashion much of the U.S. economy...

House passes tax bill, focus turns to Senate

November 16, 2017

House Republicans passed their version of legislation to overhaul the U.S. tax code by slashing the corporate tax rate, lowering tax burdens for most individuals and adding an estimated $1.4 trillion to the federal deficit over the next decade....

Jeffrey Gundlach attacks break for hedge funds in tax plan

November 16, 2017

Jeffrey Gundlach, chief investment officer of DoubleLine Capital, said the congressional tax plan would expand the federal deficit and help a small fraction of the U.S. population, including hedge fund managers. "I'm very disappointed incidentally...

Morningstar's tax-cost ratios beat its fund rankings

November 15, 2017

In 1973, Burt Malkiel published the first of what would become nine editions of "A Random Walk Down Wall Street." He popularized the efficient markets hypothesis, in which stock prices accurately reflect future expectations so that stock-picking...

Changes to Senate tax bill affect pass-throughs, Roths

November 15, 2017

The Joint Committee on Taxation released a modified version of the Senate GOP tax bill late Tuesday that offers a mixed bag of pros and cons for financial advisers and their clients. Primarily, in a huge departure from its original proposal,...

Repealing estate tax could open new path to wealth for clients

November 14, 2017

As House and Senate Republicans pursue competing tax overhaul plans, financial advisers should be aware that one big disagreement is the estate tax. House Republicans want to repeal it in 2024 while their Senate colleagues want to preserve it....

Senate tax proposal gives deduction for pass-through businesses

November 10, 2017

Most financial advisers who own their own firms and pay taxes on their personal returns will not be able to take advantage of tax breaks in either the Senate or House bills. But when it comes to helping their small-business clients, the Senate's...

Prepare clients for an untimely end to Roth conversion do-overs

November 9, 2017

The new tax proposal from Congress had a November surprise. The proposal includes a repeal of the Roth IRA recharacterization, which is the ability to undo a Roth conversion. I normally don't like to advise planning based on proposed law, but...

Tax reform: House bill revisions include lower pass-through rate for small businesses

November 9, 2017

An amendment from the chairman of the House tax writing committee modified several provisions of the GOP tax overhaul bill to tweak rules for pass-through businesses, restore the adoption credit, and allow car dealers to write off interest on...

Tax reform: What advisers need to know about the Senate bill

November 9, 2017

Republican members of the Senate Finance Committee released their tax-reform bill on Thursday. Here are the highlights for financial advisers along with a comparison to the House bill, an amended version of which was approved on Thursday by...

GOP tax plan creates surprise divorce penalty

November 6, 2017

Apparently, nobody saw this one coming. The recently unveiled Republican tax plan would eliminate the current deduction for alimony, potentially changing the calculus of future divorce settlements. Currently, ex-spouses who pay alimony or similar...

Tax reform: Advisers spy loopholes in proposed pass-through tax rules

November 6, 2017

Financial advisory firms might feel snubbed by the House's tax-reform package that specifically excludes such service-sector businesses from a lower tax rate, but that doesn't mean advisers and tax planners won't be busy helping their business-owner...

Tax reform: Advisers will have plenty to digest as legislation works its way through Congress

November 5, 2017

And we're off. The starting pistol has been fired in the race to get a tax-reform bill to President Donald J. Trump before the year ends. Financial advisers should keep a close eye on changes made to the proposed tax bill put forth last Thursday...

Tax reform: How the House bill changes rules for retirement savings

November 3, 2017

The headline news for retirement plan advisers Thursday upon the unveiling of the House tax bill was that a reduction in the pre-tax 401(k) savings limit is off the table, for now. But there are plenty of other details in the tax-reform legislation,...

Why the House tax bill could be a 'bonanza' for advisers

November 2, 2017

The tax bill unveiled Thursday morning has far-reaching implications for financial advisers and their clients, from an overhaul of individual tax rates to the elimination of useful tax strategies and deductions. "I think there's going to be...

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