Tax planning

With the passage of so much tax legislation over the past several years, there is tremendous opportunity for savings and planning.

Advisors are urging clients to make tax-planning moves this year to preserve the preferential capital gains rate and turbocharge business deductions.

More than a half century after Lyndon Johnson’s war on poverty, the new administration plans a mass expansion of government spending and a revamp of the Tax Code.

The Senate Budget Committee chairman wants to raise the corporate tax rate to 35 percent.

A conservative think tank is throwing its support behind proposals long associated with progressives like Elizabeth Warren and Bernie Sanders: taxing stock trades and breaking up Wall Street investment banks.

Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months.

Changing rules on taxation of gambling winnings may produce some unexpected upsets.

Yet another IRS change to tax rules amid the COVID pandemic is complicating tax-planning opportunities for financial advisors this filing season.

The Investment Tax Credit and the Production Tax Credit can provide value in the corporate climate under President Biden.

President Joe Biden’s economic team at the White House is determined to make good on his campaign pledge to raise taxes on the rich, emboldened by mounting data showing how well America’s wealthy did financially during the pandemic.