Personal Financial Planning
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.
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.
This item discusses key tax considerations for donors and charitable organizations that wish to give or receive digital asset donations.
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.
Tax advisers can help divorcing couples reach an agreement that divides marital property equitably with respect to taxes and each party’s financial goals.
Bonds offer tax advantages and can help protect a portfolio against inflation.
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.
The IRS issued the retirement account inflation adjustments for 2023, including the maximum contribution amounts for 401(k) plans and IRAs.
This item explores how certain tax provisions may affect potential investors planning to indirectly invest in collectibles.
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.
The unique characteristics of this new asset class present a host of additional issues unique to digital asset transactions.
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.
When considering a sale of the property, one planning opportunity that a taxpayer may explore is a bargain sale to a charity.
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.
This article shows how clients can benefit from viewing a health savings account as a flexible tax-favored investment strategy.
The federal opportunity zone program creates jobs and improves communities, and the tax benefits for investors remain substantial.
A CPA’s advice becomes even more vital once a client retires since poor decisions about Social Security, Medicare, and other retirement funding strategies will hamper clients for the rest of their lives.
It is important to consider some of the less-obvious gifts when you are advising clients who are intent on using up their full $11.7 million basic exclusion amount before the end of the year.
Today’s low interest rates make charitable lead trusts a more powerful option for tax-efficient estate planning.
In a year when real estate prices are soaring in many areas of the country, these easily overlooked allocations can have a significant tax impact.
