Financial planning

As the story goes, John D. Rockefeller was getting his shoes shined when the shoeshine boy, not knowing whose shoes he was shining, started offering stock tips.

The U.S. House voted to repeal the 99-year-old U.S. estate tax amid a partisan clash over whether the government should break up concentrated wealth or make it easier to pass along assets to the next generation.

Congressional Republicans have narrowed the estate tax so much that it affects only about 5,500 wealthy American households a year. Now they want to eliminate the tax altogether—with a bonus for heirs.

April is Financial Literacy Month and Fred Slater, CPA, and Ellen Minkow, CPA, of MS 1040 LLC in New York City are offering some special tax advice.

The Internal Revenue Service and the Treasury Department have issued guidance aimed at making it easier for taxpayers to be automatically enrolled in retirement plans such as 401(k) and 403(b) plans by their employers, simplifying the correction methods if errors are made.

Practitioners need to be aware of the tax-free IRA rollover rules that took effect on Jan. 1, 2015 to protect their clients from major tax problems and penalties.

Revenue growth expectations among CFOs in North America declined this quarter, according to a new survey by Deloitte.

Even though tax season is getting close to the end, there are still some important tips that accountants can share with their clients by April 15, and beyond.

Nearly half of Americans are saving no more than 5 percent of their incomes, while 18 percent are saving nothing at all, according to a new report.

Your clients’ financial plans need to consider their parents and children

Fifty-three percent of U.S. adults have not started making financial arrangements for retirement, according to a new survey, and four out of 10 respondents admitted that not having saved enough for retirement is their biggest financial regret.

Tax season is supposed to be over on April 15. But among certain groups—especially the wealthy—filing for an extension until Oct. 15 is now routine.

The 99-year-old U.S. estate tax would disappear under a bill approved Wednesday by the House Ways and Means Committee.

Investors should pay closer attention to the Other Comprehensive Income statement on financial reports, suggests a new study.

The Internal Revenue Service is reminding taxpayers who turned 70-1/2 during 2014 that they most likely need to start taking required minimum distributions from their IRAs and other retirement plans by April 1.

Congressman Keith Ellison, D-Minn., has re-introduced legislation that would impose a “Robin Hood Tax” on financial transactions and use the money to fund social programs and other causes.

Fewer restrictions on shareholder participation correlate with a relatively low incidence of accounting restatements, according to a new study.

A limited liability company has become the entity of choice for many businesses throughout the United States for tax and liability purposes, but many of the operating agreements governing LLCs could have significant defects.

The European Union launched a new salvo in its battle against tax evasion with a slate of proposals that would make it harder for companies to avoid taxes.

Our weekly roundup of tax-related investment strategies and news your clients may be reading about in the financial media.