Finding the ideal place to retire means weighing many pros and cons. The size of the tax bite can vary greatly by state. Use this interactive graphic to see how the states measure up. Click on the map below to launch the interactive graphic. All data is current as of 10/21/11 and is subject to
When reviewing retirement assets, you may want to discuss the net unrealized appreciation rule (NUA) if your client owns appreciated company stock in a qualified 401(k) plan. Clients may not realize they may benefit from the tax flexibility provided by the rule. Presenting this alternative can differentiate you from other advisors or investment firms who
Today more and more households are headed by a divorced or single individual. Because most rules involving retirement, insurance, income taxes, and estate taxes differ because of marital status, there are unique challenges that may arise for these individuals. There are some strategies that may be useful for divorced and single individuals as they navigate
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
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
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
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
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
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
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