Planning considerations for non-traditional households: unmarried couples

Planning considerations for non-traditional households: unmarried couples

Unmarried couples have unique financial planning considerations because the rules involving retirement, insurance, income taxes, and estate taxes differ from those that apply to married couples. Fortunately, planning strategies may be used to deal with varying limitations or exclusions. Retirement. Beneficiary designations are critical for unmarried couples because they cannot take advantage of rules governing

Too late to avoid AMT?

Too late to avoid AMT?

As the tax filing deadline approaches, many clients may think it is too late to reduce their tax bill and possibly avoid the alternative minimum tax. If you have shared tax-savings strategies with clients, now may be a good time to check in to see if they have followed up on them, before they complete

Time to talk about charitable contributions

Time to talk about charitable contributions

It is never too early in the year to talk to your clients about making donations to charity. In fact, the tax benefits may never be better than those available in 2012. Under pressure to solve the federal budget deficit, leaders on Capitol Hill are eyeing a range of tax reform proposals. In addition, many

Ten tax-smart strategies to help clients prepare for higher taxes

Ten tax-smart strategies to help clients prepare for higher taxes

With the Bush-era tax rates set to expire this year, and new taxes being levied in 2013 as a result of health-care reform, many clients may face higher taxes next year. There is a small window of opportunity for clients to incorporate a variety of tax-smart strategies into their plan now to take advantage of

President’s budget proposes higher taxes

President’s budget proposes higher taxes

Higher tax rates and limits on itemized deductions are two of several provisions in President Obama’s proposed budget that would have an impact on high-income taxpayers. The FY 2013 budget proposal, released in mid February, includes a series of tax reform measures “to cut inefficient expenditures and move the tax system closer to observing the

Dynamic tax landscape creates opportunity for tax-planning discussion

Dynamic tax landscape creates opportunity for tax-planning discussion

The extension of the Bush-era tax rates into 2012 gave investors more clarity, but the ongoing debate about federal deficit reduction proposals is adding to uncertainty about tax policy beyond this year. Given the dynamic tax landscape, it may be a good time to meet with clients and review tax-planning strategies. Download our Tax outlook

Tax rates and key changes for 2012


Tax rates and key changes for 2012


Though there were no major changes in broad tax rates for 2012, there are some tax- and retirement-related changes from 2011 levels taxpayers should be aware of: Of these key changes, the reductions in the AMT exemption amount will have the most impact for taxpayers by far. Unless legislative action is taken, an estimated 25

Estate planning considerations for 2012

Estate planning considerations for 2012

Next year the federal estate tax environment will change dramatically unless legislation is passed in Washington. In fact, according to the Tax Policy Center, the number of estates subject to tax will increase by over ten times (roughly 3,600 taxable estates to over 43,000) while total estate tax revenue received by the government will increase

Payroll tax cut extended for two months

Payroll tax cut extended for two months

Just days prior to the expiration of a payroll tax-cut provision, the U.S. House of Representatives and the Senate agreed to extend the cut into 2012. Congress also agreed to negotiate for a one-year extension. The provision, which went into effect in January 2011, reduced the tax paid to Social Security by 2%. As a

Capitol Hill: What To Watch For In 2012

Capitol Hill: What To Watch For In 2012

2011 was an eventful year with respect to overall awareness of the nation’s debt crisis. Though dialogue around reducing the federal budget deficit emerged in 2010 through the work of a couple of well-known commissions (Bowles-Simpson, Rivlin-Domenici), the overall crisis became front page news in 2011. This culminated in November with the failure of the