Tax planning

All across America, hard-working people receive their personal income tax returns and wonder why they still owe money at tax time.

In-home, private-duty senior care is one of the fastest-growing segments of the care industry. The high cost of facility-based care, coupled with the desire to enjoy the comfort and convenience of home, makes employing a caregiver an increasingly popular option for families.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Changes affecting qualified retirement plans

What the IRS giveth, the IRS taketh away. At age 70½, the bill comes due on all those tax-deferred savings accounts we’ve been building, and this week the oldest baby boomers will begin to reach that finish line—with many millions more to follow.

The tax man cometh for some of the richest money managers in the U.S. They’ve had eight years to dream up a dodge. So far, no luck.

Highlights of some of our favorite tax-related blogs from the past week.

The Internal Revenue Service has released final regulations relating to the exclusion from gross income of discharge of indebtedness income of a grantor trust or an entity that is disregarded as an entity separate from its owner.

The Internal Revenue Service has issued guidance on whether payments from a qualified retirement plan during a phased retirement are considered an annuity.

A study based on 13 years of tax data finds that most millionaires don’t move cross-country just to avoid a tax bill.

Congress and the Internal Revenue Service are starting to take a closer look at the museums set up by private foundations that receive special tax-exempt status from the IRS.

The American Institute of CPAs has sent comments to the Internal Revenue Service and the Treasury Department on proposed regulations for estate tax basis reporting.

The end of the 2016 primary season is in sight, and while many significant (and some less significant) issues have received ample attention, taxes have played a somewhat less prominent role.

As Donald Trump prepared for the Republican primaries, he transferred dozens of his most prized assets, the “Trump” trademarks that adorn everything from hotels to ties to his U.S. golf courses, into a new Delaware-based company—a move that offers him a chance to cut his income-tax bills.

With the average cost of a wedding soaring to $30,000, prospective brides and grooms—and their parents—have a lot more to worry about than simply planning the details of the day.

When it comes to taxes, millionaires have short fuses. Ratchet up their rates and they'll blow you off and move to a low-tax, or no-tax, state.

Summer isn’t too far away, and many parents are wondering if they can afford to send their kids away to summer camp this year. The ability to take a tax deduction for such expenses could make all the difference.

Matching for-profit Sec. 183 rules with re-energized Boomers

Now that it’s springtime and the birds are chirping, it’s important for your tax clients to consider education-related expenses when applying for federal financial aid.

The Internal Revenue Service has released final regulations for disbursements from Roth individual retirement accounts, removing the allocation rule for disbursements from designated Roth accounts to multiple destinations.