With marginal tax rates rising for higher income levels, the reduction of some tax preference items, and a new Medicare investment income surtax, income tax planning should be a priority. Here are five strategies that clients can use to mitigate tax obligations today. 1. Invest in municipal bonds for tax-free income Municipal bonds become more
With the passage of the American Taxpayer Relief Act of 2012, Congress extended for 2013 the option for IRA owners over the age of 70½ to make tax-free distributions from an IRA, if those funds are directed to a qualified charity. However, time is running out to take advantage of a new retroactive provision that
The final quarter may be the busiest time for financial planning as clients focus on preparing for 2013. This year in particular has presented many challenges for clients as they try to grow and protect assets in the face of uncertainty around taxes and fiscal policy. Some key end-of-year strategies for consideration include: Contact clients