Tax incentives for college students: Part 2
This second of a two-part article discusses the taxability of scholarships and who gets the deduction for repaying the student loans.
Tax Planning
Tax incentives for college students: Part 1
This article examines planning issues when a student is a young child whose parents are saving for college and when the student is a young adult paying for college.
Recovery rebates: Tax planning pitfalls and opportunities
The CARES Act enacted a recovery rebate tax credit to help individual taxpayers through the economic disruption caused by the coronavirus pandemic. This article discusses strategies to lower a taxpayer’s 2020 AGI to avoid a phaseout of the credit and other strategies for maximizing the credit a taxpayer receives.
RIC shareholders can take Sec. 199A deduction for REIT dividends
The IRS issued final regulations allowing regulated investment companies (RICs) to report qualified real estate investment trust (REIT) dividends as Sec. 199A dividends to their shareholders.
Four financial planning opportunities to take advantage of in 2020
Advisers to high-net-worth clients should emphasize strategies that take advantage of lifetime gifting, charitable planning, and Roth accounts, as well as low interest rates and depressed asset values.
SECURE Act changes rules to encourage retirement savings
The act contains changes to existing law, mostly designed to encourage retirement savings and to make it easier for employers to offer retirement plans.
Private foundations and donor-advised funds: A new CPA best practice
An ‘outstanding practice’ combines personal financial planning with tax compliance to help clients maximize charitable deductions, provide solutions for difficult financial situations, avoid capital gains tax, and create a family legacy.
Optimal choice of entity for the QBI deduction
The enactment of the Sec. 199A QBI deduction adds a new consideration to the form of entity analysis because the QBI deduction available to a business owner may vary depending on a business’s entity form. This article discusses the differences in calculating the QBI deduction for S corporations and LLCs in a variety of scenarios.
Sec. 199A update: Tax planning and issues to consider
This article discusses some specific issues to consider for tax year 2019.
Financing opportunities for medical expenses incurred by children with special needs
This article focuses on two resources often used in financing medical care: home equity loans and distributions from retirement plans and IRAs.
Whether to choose a 529 or a Roth IRA to fund education expenses
This article discusses options available to clients to help pay for their children's or grandchildren’s education.
Tax planning following the Tax Cuts and Jobs Act
This column discusses advising clients on the implications for choice-of-entity decisions, charitable giving strategies, and estate, retirement, and higher education planning.
Counterintuitive tax planning: Increasing taxable scholarship income to reduce taxes
This article discusses the potential benefit of choosing to include scholarships or grants in income.
Current U.S. tax incentives for higher education expenses
This article examines the requirements and limitations taxpayers face when seeking benefits of significant education-related income tax provisions.
Budgeting for realized gains
Disciplined planning for realizing gains lessens the potential for unanticipated taxes or ugly year-end surprises.
A new tax-efficient approach to protecting unrealized gains
A stock protection fund may be helpful to some investors.
Lump-Sum Distributions of Employer Stock Present Opportunities
When a qualified retirement plan account holds employer stock, a retirement plan participant could save thousands of dollars with proper planning.
Tax Planning Opportunities for Tax Attributes and the Decedent’s Final Tax Return
Careful and thoughtful advanced planning can result in substantial tax savings.
Deciding Whether to Roll Over to a Roth IRA
Deciding whether it makes sense to trigger the resulting tax liability depends on several factors.
Tax Planning for High-Net-Worth Individuals Immigrating to the United States
Foreign high-net-worth individuals immigrating to the United States should seek advice to minimize exposure to the U.S. income, gift, and estate tax system.
