Tax Planning

In the wake of the entertainer Prince’s death, it has been called “the worst estate planning sin a wealthy artist could commit: leaving no will at all.”

One of the issues that often causes a high degree of client confusion is whether or not a withdrawal from their IRA account will be taxable, and if so, to what extent.

The American Institute of CPAs (AICPA) has submitted comments to the Internal Revenue Service (IRS) and U.S. Department of the Treasury about IRS draft Form 8971, Information Regarding Beneficiaries Acquiring Property from a Decedent, and draft ...

The figure that is likely to grab your attention is 52 percent. That is the top tax bracket proposed by Sanders, a plateau that hasn’t been reached since a watershed 70 percent rate was scaled back in the 1980s. The top tax bracket peaked at 91 percent...

Thomson Reuters has released a special report highlighting key tax developments in 2015 to aid practitioners in 2015 tax return preparation and support 2016 planning.

Carson would also eliminate deductions for charitable contributions, mortgage interest and state and local income taxes, while repealing the alternative minimum tax (AMT), the earned income credit and the rules for depreciation.

  The American Institute of CPAs (AICPA) has submitted comments to the Internal Revenue Service (IRS) about the IRS’s new policy of issuing estate tax closing letters only upon a separate request four months after filing the estate tax return.  The IRS announced changes related to the issuance of estate tax closing letters on the […]

Calls for federal income tax cuts are a time-honored tradition by presidential candidates of all stripes, but the Tax Policy Center study says that Trump’s plan dwarfs the proposals made by other GOP contenders.