This article discusses them, provides examples, and addresses recent tax developments that have expanded the definition of taxfree qualified educational distributions from these plans.
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Personal Financial Planning
Safe-harbor language issued for amending conservation easement deeds
In response to a requirement in the SECURE 2.0 Act of 2022, the IRS issued a notice Monday that allows donors to amend conservation easement deeds to substitute the safe-harbor language for the corresponding language in the original deed.
10 estate and income tax questions
This item discusses 10 important income tax questions to consider when creating an estate plan.
Planning for the Medicare Part B premium
Financial advisers can help clients avoid big spikes in Medicare premiums through careful tax planning.
Key tax and retirement provisions in the Secure 2.0 Act
The year-end appropriations act included the Secure 2.0 Act, which makes many changes to the retirement plan rules, including expanding automatic enrollment and increasing the starting age for required minimum distributions.
Smart tax strategies for lottery winners
Did a client finally hit their lucky number? Here’s why you should convince them to elect installment payments over the lump-sum option if they win millions in the lottery.
Tax considerations on charitable giving of cryptoassets
This item discusses key tax considerations for donors and charitable organizations that wish to give or receive digital asset donations.
Tax planning issues to consider when assisting clients in a divorce
Navigating a divorce can be an emotional experience for clients, and assisting them can likewise be poignant for their tax advisers, particularly when the adviser has a long-established relationship with both spouses.
Taxpayer marital status and the QBI deduction
This article provides an analysis in four scenarios of whether the QBI deduction will cause a marriage penalty or bonus and discusses whether the existence of a marriage penalty or bonus affects couples’ decision to marry.
Recent developments in estate planning: Part 2
In this second installment of an annual update on trust, estate, and gift taxation, the topics include split-dollar life insurance arrangements, indirect gifts, formula clauses in transfers of limited partnership interests, valuation discounts, and grantor retained annuity trusts.
Dividing up assets when a marriage ends: Tax implications
Tax advisers can help divorcing couples reach an agreement that divides marital property equitably with respect to taxes and each party’s financial goals.
Tax planning for bond transactions
Bonds offer tax advantages and can help protect a portfolio against inflation.
Retirement account inflation adjustments issued for 2023
The IRS issued the retirement account inflation adjustments for 2023, including the maximum contribution amounts for 401(k) plans and IRAs.
Rembrandt and retirement: The pitfalls of collectibles and self-directed IRAs
This item explores how certain tax provisions may affect potential investors planning to indirectly invest in collectibles.
IRS raises per diem standard rates for business travel
Under Notice 2022-44, the high-low method rates will be slightly higher and the list of high-cost localities in the continental United States is revised, both effective Oct. 1.
Virtual currency grantor trusts and ETFs: Tax compliance
The unique characteristics of this new asset class present a host of additional issues unique to digital asset transactions.
Mutual fund-to-ETF conversion: Tax implications
The conversion of a traditional mutual fund to an ETF can have significant tax benefits, depending on the nature of the fund’s activities and the makeup of the fund shareholder base.
Using I bonds for education savings
I bonds provide a flexible, tax-advantaged method for saving for children’s education.
Bargain sales to charities: What are they and how do they work?
When considering a sale of the property, one planning opportunity that a taxpayer may explore is a bargain sale to a charity.
Considerations for philanthropic vehicle decisions
Philanthropic giving involves consideration of several structures and depends on factors including client control, level of contribution or investment, and the ability and willingness of the client’s family to participate in administrating the endeavor.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
