From: www.aefonline.org
One of the benefits of employing the use of a donor advised fund (DAF) in a charitable giving strategy is that, in certain scenarios, it can be utilized to separate tax strategy from charitable giving strategy. Because a donor always receives the tax benefits of contributing to a DAF in the year that…
From: cnbc.com
It’s not just saving for retirement you need to worry about, but drawing down your money at the right time, too.
The IRS requires savers to make withdrawals from their retirement accounts starting at age 70½.
“They’ve allowed you to defer taxes, but they need to come collecting at some point,” said Arielle O’Shea, a…
From: TaxpayerAdvocate.irs.gov
An Illustration of the Modern United States Tax System
The map below illustrates, at a very high level, the stages of a taxpayer’s journey, from getting answers to tax law questions, all the way through audits, appeals, collection, and litigation. It shows the complexity of tax administration, with its connections and overlaps and repetitions between stages. As you can see from its numerous twists and turns, the road to…
From: www.usatoday.com
Just as taxes are a huge burden for working Americans, they can also be a drain on seniors’ limited resources. If you’re worried about affording your golden years, it pays to set yourself up with a number of income sources that the IRS can’t tax you on later in life.
The last thing you need as a senior is…
From: www.thinkadvisor.com
Outflows tend to hurt open-end mutual funds’ tax efficiency, while ETFs tend to be resilient.
Not surprising to any advisor, a key advantage of using ETFs versus mutual funds is the former’s tax efficiency. However, a new Morningstar study explores the sources of ETFs’ tax efficiency verses index mutual funds, and found that ETFs tend to be more tax-efficient…
From: money.usnews.com
Your Social Security benefit may be taxable. Try these strategies to reduce your tax bill in retirement.
Most workers pay intothe Social Security program throughout their career. Many people also pay taxes on part of their Social Security payments in retirement.
Retirees with low incomes or whose only source of income is Social Security generally don’t pay income tax on their Social Security benefit….
From: www.fa-mag.com
Democrats’ talk of higher taxes for the rich might intensify interest in state and local government bonds, where income is often exempt from taxes.
Tax-loss harvesting in municipal bond portfolios can allow investors to offset tax liabilities stemming from capital gains in other asset classes—as long as investors and advisors do their homework.
“Basically, when rates go up investors will potentially…
From: www.assetmark.com
Taxes are a top detractor from overall portfolio performance. Your financial advisor can help you implement strategies to make your investments more efficient and tax-smart.
From: www.thinkadvisor.com
Although every client should review his or her estate planning strategy on a fairly regular basis, after a major tax overhaul, it’s important for clients to take an even more detailed look at the various elements of their estate plans.For some clients, this will require evaluating changing circumstances and future goals to determine whether existing trusts and other planning strategies…
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