College planning

A tax on wealthy university endowments isn’t set to be collected for more than a year, yet schools are working behind the scenes to roll it back.

Congress is giving finance officials at America’s colleges and universities even more to worry about.

For more than 30 years, colleges and universities have leaned on an obscure tax rule that allows sports boosters to make tax-deductible contributions to their teams. Athletic fundraisers around the country say that’s an advantage that generates millions in annual revenue—and one that’s threatened by Republican tax legislation.

The Senate version of the Republican tax bill would tax wealthy private college endowments at 1.4 percent of net investment income, the same levy as the House proposal introduced last week.

In the aftermath of Donald Trump’s election, the American Institute of CPAs has drawn up a list of tax reform priorities for the incoming administration.

In the latter part of the year we begin conducting year-end planning meetings with clients. For the ones with children or grandchildren, invariably part of the meeting focuses on planning and saving for college and possibly graduate school expenses.

Assets in college savings plans named for an obscure section of the Internal Revenue Service code hit a new record this summer, totaling $266.2 billion. That’s up 5.1 percent from a year ago, when assets in the accounts stood at $253.2 billion.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

It’s back to school for university endowments and U.S. lawmakers.

With the start of school just around the corner, taxpayers should be aware of the following tax breaks and deductions available for qualifying expenses, according to the audit defense service TaxAudit.com.

Summer is well underway, and now is a great time to help your clients and their dependents with the tax tips in this slideshow written by Michael Sonnenblick of Thomson Reuters Checkpoint.

There are some tax advantaged ways to help clients pay for expenses for their children this summer.

Summer jobs are an excellent opportunity to learn responsibility in the areas of work ethic, time management, and financial responsibility.

Two new surveys highlight the differing financial situations of older and younger adults.

Now that it’s springtime and the birds are chirping, it’s important for your tax clients to consider education-related expenses when applying for federal financial aid.

A bipartisan group of lawmakers in both the House and Senate are asking the Internal Revenue Service and the Treasury Department to remove the barriers to providing tax-exempt refinancing options for student debt.

Financial stress rates for U.S. workers are among the highest they have been over the last five years, as workers contend with greater financial burdens and debt, according to a new survey by PricewaterhouseCoopers.

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Rep. Tom Reed, R-N.Y., has proposed to require nonprofit colleges and universities to dedicate 25 percent of their annual endowment income to financial aid. If they don’t, they could lose their tax-exempt status.

The Internal Revenue Service is giving educational institutions a pass if they fail to include the correct taxpayer identification number on a student’s tuition statement form.