Wealth management

The Internal Revenue Service ended a strategy for examining high-income taxpayers in 2017 and switched to another strategy that brought in far less tax revenue in the next few years.

The 8th Earl Cadogan, will use most of the proceeds of his family’s real estate business from the past decade to settle a U.K. tax charge.

The former Microsoft CEO was cited in a ProPublica story that showed how billionaires use ownership of sports teams to lower their tax obligation.

The administration is aiming at trusts — particularly dynasty trusts, vehicles that wealthy families can use to benefit multiple generations of descendants.

Why your clients probably need a financial planning audit.

A new holiday; VAT questions; give parents credit; and other highlights from our favorite tax bloggers.

A combination of high valuations on companies and potentially higher taxes in the future is proving to be a potent motivator for selling private companies.

Fueled remote work and worries over tax hikes, financial advisors who live in expensive cities are trimming their personal tax bills by moving to low-tax and no-tax states.

For the first time, multiple CPAs under the age of 41 were honored for their contributions to the future of the accounting profession.

The leaders of the biggest Western economies are expected to endorse a plan that focuses on super-wealthy individuals and businesses.

Even with a 15-year window to pay taxes, a near-doubling of the capital gains rate and the elimination of the step-up in basis loophole will make a sale expensive.

Private wealth clients, hedge fund managers and cryptocurrency traders fleeing to Puerto Rico for its huge tax breaks — and to escape President Joe Biden’s proposed capital gains tax increases — are now the focus of a sweeping Internal Revenue Service review.

The leading CPA financial planners with over $1 billion in assets under management

Financial planning clients need to start preparing for potential legislative upheavals now.

"Inheritors are going to get killed" under the White House’s proposal to put the brakes on tax-free intergenerational transfers of wealth.

FASAB is looking for input on a proposed interpretation of the federal financial accounting standards for cancelled debt.

Plans sold through brokers cost nearly three times as much as those sold directly; time-stressed parents can find it's worth it.

President Biden releases his annual budget on May 27, a move likely to detail his plans to increase the capital gains tax rate and eliminate a lucrative benefit for inherited estates.

Pulling the costs directly out of clients’ IRAs can blunt the sting, but it shrinks the pot of tax-deferred retirement assets.

Chicago CPA Jeff Badu launches his own nonprofit to serve local youth, and the Indiana Society of CPAs holds its 2021 Spring CPA week.