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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
The number of non-traditional households in the United States — those headed by divorced or never-married individuals — is on the rise, and awareness is growing about financial planning challenges that are specific to them. Some of these challenges may include the following: Unmarried couples are not afforded automatic protections such as legal and property
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
Since the 2008 financial crisis, regulators at the Securities and Exchange Commission have been seeking ways to make money market funds safer. But their most recent proposals have some in the financial industry worried that future changes will undermine money market funds’ appeal. According to Investor’s Business Daily, ”the rules expected to be formally proposed
Considering the many ways that an IRA can be used to help reduce taxable income, tax season is a good time for an IRA checkup — especially since investors have until April 15 to fund contributions for last year. Additionally, with many people holding numerous jobs throughout their career, your clients may have several IRAs
Small business owners, including 17 million sole proprietors, represent the vast majority of firms in the U.S. (Small Businss Admin, May 2009) and provide an opportunity for advisors looking to grow their retirement business. In fact, according to the Small Business Administration (Saving for Retirement: A Look at Small Business Owners, March 2010), 9 million
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