This article focuses on two resources often used in financing medical care: home equity loans and distributions from retirement plans and IRAs.
This article discusses options available to clients to help pay for their children's or grandchildren’s education.
This column discusses advising clients on the implications for choice-of-entity decisions, charitable giving strategies, and estate, retirement, and higher education planning.
This article discusses the potential benefit of choosing to include scholarships or grants in income.
This article examines the requirements and limitations taxpayers face when seeking benefits of significant education-related income tax provisions.
Disciplined planning for realizing gains lessens the potential for unanticipated taxes or ugly year-end surprises.
A stock protection fund may be helpful to some investors.
When a qualified retirement plan account holds employer stock, a retirement plan participant could save thousands of dollars with proper planning.
Careful and thoughtful advanced planning can result in substantial tax savings.
Deciding whether it makes sense to trigger the resulting tax liability depends on several factors.
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.
The opportunity to get more assets into Roth vehicles via various means has evolved over the last several years.
Identifying qualified dividends and helping taxpayers meet the requirements for qualified dividend status are valuable client services.
An Overview of Tax Practice Issues That Arise Under Statement on Standards in Personal Financial Planning Services
This column discusses some of the issues that might arise for tax practitioners in light of Statement on Standards in Personal Financial Planning Services.
Without a tax professional’s being actively involved in planning, the benefits of tax-aware management are unlikely to be achieved.
New taxes and higher rates have dramatically increased the complexity of planning for many taxpayers; however, long-standing techniques for managing income and deductions and taking best advantage of tax-favored vehicles for retirement saving still hold sway.
In tax practice, CPAs occasionally encounter self-employed clients who have difficulty keeping up with their quarterly estimated tax payments. The problem of making adequate estimated tax payments is particularly difficult for the self-employed because they generally do not have taxes withheld and remitted to the government, as do most employees with wages reported on Form W-2.
Married same-sex couples must now file their federal income tax returns as either married filing jointly or separately, but they have a choice whether to amend their federal income tax returns for open years during which they were legally married.
The immediate planning opportunity for CRTs is to harvest short-term and long-term capital losses. Here is how it works and what changed from earlier years.
Virtually every financial decision for higher-income taxpayers now needs to be analyzed through the lens of the regular income tax, the alternative minimum tax, the net investment income tax, and new additional brackets.