The Senate revealed its tax plan last week, which differs significantly from the House version.
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Wealth Management Spotlight:
Intergenerational Wealth Transfer
Seniors age 70½ and older may benefit from a unique provision of individual retirement accounts (IRAs) when considering gifting strategies.
House Republicans introduced a tax reform bill that would reduce tax rates, eliminate some taxes, and make changes to certain deductions.
Investors may want to consider a three-bucket strategy to manage risks in retirement such as longevity and liquidity risk.
Some large estates will owe estate taxes this year and there is a valuable tax deduction that is often overlooked.
With longevity increasing, investors need to make sure their savings last as long as they do.
When children inherit wealth from their parents, they may seek guidance elsewhere if they do not have a relationship with their parents' advisor.
The Administration's tax reform plan proposes to cut taxes for individuals and corporations, raise standard deductions, and eliminate certain taxes.
As the deadline approaches, there is still time for investors to reverse or recharacterize, a Roth IRA conversion.
For families planning for college, the senior year of high school has many deadlines and preparations for parents and students.