Tax planning

President Donald Trump said he is open to the idea of higher taxes on millionaires but worries that a levy increase could hurt the party.

Trump's remarks are likely to pour cold water on discussions about creating a new 40% tax bracket for people earning $1 million or more.

The Budget Lab at Yale projects that taxing income over $1 million at a 40% rate would generate $420 billion over a decade.

States including Florida, New Hampshire, Texas and South Carolina are the main ones attracting clients due to their tax-friendly policies.

President Donald Trump is considering ideas to raise taxes on the rich as a way to partially offset revenue losses from his tax package.

The openness to a new 40% tax bracket for millionaires comes after decades of Republicans opposing any form of tax increase.

As the expiration of key Tax Cuts and Jobs Act provisions looms, tax pros are preparing for what could be another period of upheaval.

Forming a trust now and funding it after Congress decides whether to keep the current gift tax exemption rate could make for an effective preemptive strike.

What will the tax implications be for CPA clients and practice owners? Where are interest rates headed? What about inflation?

Following the Republican victory in the 2024 election, tax reform and political changes are at the forefront of every accountant's agenda.

Four years after handling the first conversion of a hedge fund to an ETF, Wes Gray is gearing up to lead a surge of tax-busting deals aimed at investors.

Most Biden administration tax proposals weren't adopted by Congress, including an idea to tax the unrealized gains of billionaires.

The Internal Revenue Service ended 2024 with new regulations on reporting cryptocurrency transactions, amendments for outdated provisions and more.

These strategies are more than just smart tax moves; they're powerful tools for reshaping financial outcomes.

Next year is set to become one of the most significant in modern history when it comes to shaping the tax and financial planning environment.

Consider this host of strategies to help clients keep more of what they earn.

Having the White House, House and Senate all in control of the same party increases the likelihood that major tax legislation can be agreed upon.

With changing tax regulations and incentives, staying informed about the latest updates is crucial for optimizing client outcomes.