House Ways and Means Committee released its tax proposals totaling about $2 trillion in tax increases.
As lawmakers debate spending bills on Capitol Hill, the leading tax questions on the minds of advisors involve proposed changes to the tax code.
Most advisors are closely monitoring tax policy as it is not yet clear what proposals around estate taxes will be introduced on Congress’s agenda this year.
The death of music superstar Prince underscores the need for investors to prepare an estate plan.
Changes in tax laws, cost of living differences, and the appeal of milder climates prompt many people to consider relocating. While there may be benefits — including financial benefits in some cases — the process can be complex. A person may have several residences, but he or she can only have one domicile or “legal”
The American Taxpayer Relief Act of 2012 made permanent changes to the federal estate tax law, including establishing a $5 million exemption, indexed for inflation. The new exemption amount means approximately 4,000 estates could still cross the threshold and be subject to estate tax, according to the Tax Policy Center. This number is fewer than
While there has been no action yet on the fiscal cliff, high-income earners are wise to prepare for higher taxes, fewer or capped deductions, or all of the above. The window of opportunity to take advantage of tax strategies while tax rates remain historically low is narrowing, so now is the time to contact clients