Tax planning

An analysis by the Washington Post found the generative AI chatbots from both companies can give tragically wrong tax answers.

Here's how some financial advisors have offered the two services for decades and why the rest of the industry may finally be catching on to the opportunity.

There's a growing sense of unease among asset managers that companies with conspicuously small tax bills pose a financial liability too big to ignore.

The president will advocate plans to increase taxes on the wealthy and corporations as well as to lower prescription drug prices in his speech next week.

The report casts a skeptical eye on the PPLI industry, claiming it functions as a tax shelter for a few thousand millionaires and billionaires.

Republican attorneys general from 13 states have signed a letter denouncing the IRS pilot of a Direct File system, calling efforts unconstitutional.

As tax-friendly as the rules are for HSA funds during an individual's lifetime, they can become much more punitive for funds left over after the original account owner dies.

The Internal Revenue Service provided initial guidance to aid employers in establishing pension-linked emergency savings accounts, an outgrowth of the wide-ranging SECURE 2.0 Act of 2022.

It was an eventful 12 months for practitioners, with new legislation, regulations, court decisions and IRS pronouncements all impacting the tax landscape.

What you don't know can hurt you as it pertains to your clients as well as your own life insurance portfolio.

From estate, gift and trust work to Social Security maximization and charitable planning, there are a host of offerings firms can work on once the tax return is finished.

Practitioners have always shared advice as part of tax prep, but the future of the field is in proactive, intentional tax advisory services.

ART programs provide a number of benefits, including more control over premiums and a more stable renewal process. However, the tax consequences require a thorough vetting.

In a recent case, the Tax Court addressed the issue of when limited partners may be subject to self-employment tax.

Plus, Expensify adds budgeting capabilities; Corvee to hold AI bootcamp; and other news from the accounting tech world.

More working Americans have a health savings account, but many are not using them to their fullest potential.

In this truly last Vendor Spotlight of 2023, we talk to Aaron Jacob, head of accounting solutions at TaxBit.

Key justices suggested the tax, which aimed to collect hundreds of billions of dollars on a one-time basis, wasn't fundamentally different from other levies imposed by Congress over the years.

The case coming before the Supreme Court stems from a 2017 tax law provision that aimed to tax earnings held overseas by big multinational companies.