Tax Planning
The latest news and developments that advisors need to create meaningful tax planning strategies for clients.
British Budget Cuts Top Tax Rate, Deductions for Pensioners
By Marlene Y. SatterChancellor of the Exchequer George Osborne on Thursday prompted a chorus of jeers over the budget he unveiled, which cut the top tax rate on Britains wealthiest even as it eliminated tax deductions for pensioners.
March 21, 2012
Retirement Plans Could Be Hit by ProposalsIn the proposed plan, contributions to plans would no longer be tax deductible, but a flat-rate refundable tax credit of 18% would be introduced instead that would serve as a federal matching contribution into a retirement savings account.
March 20, 2012
Ryan's GOP Budget Repeals AMT and Health Care Law, Reforms Tax CodeHouse Budget Committee Chairman Paul Ryan, R-Wis., released the House 2013 budget, which would reduce tax brackets from six to two and, like Obama's plan, cut corporate tax rate.
March 20, 2012
CPAs, Enrolled Agents, Accountants…What’s the Difference?What matters most is the relationship your potential partner has with his clients.
March 20, 2012
CPAs, Enrolled Agents, Accountants…What’s the Difference?What matters most is the relationship your potential partner has with his clients.
March 20, 2012
IRS Makes It Easier to Buy Deferred Annuities With Retirement Plan DollarsFor clients who want to purchase deferred annuities within their retirement plans, the IRS reporting requirements have historically been so confusing that theyve served as a big deterrent. Recent guidance from the IRS has solved this problem.
March 20, 2012
Employee Benefits and Taxes, Pt. 1: Tax Treatment of Section 83 Deferred CompFrom Tax Facts Online, a look at tax consequences to both employees and employers on Section 83 funded deferred compensation agreements.
March 20, 2012
Vatican Embarrassed by Account ClosureThe Vatican suffered a blow to its efforts to have its bank included in the European "white list" of states that comply with international standards against tax fraud and money laundering on Monday when JP Morgan Chase shut the account of the Vatican bank at an Italian branch.