With the passage of the “One Big Beautiful Bill,” Congress and President Trump have dramatically altered the tax- and financial-planning landscape for financial advisors and their clients. The enactment of the OBBB Act is going to have far-reaching implications for tax and financial planning. In this second part of an overview of the Act, we take a look at six temporary provisions that may affect your clients.
Staying ahead of legislative changes that directly impact our clients’ financial well-being is crucial to our profession. The recent signing of the “One Big Beautiful Bill Act” (OBBB Act) by President Trump on July 4 represents a monumental shift in the American fiscal landscape. This two-part summary provides a detailed overview of the OBBB Act’s core provisions, confirmed to reflect the final text signed into law, not earlier drafts or proposed versions.
Tax season is officially here. If you haven't already, now is the time to get prepared. Whether you meet with a tax professional or prepare your taxes yourself, proper planning helps the processes go more smoothly and may reduce the risk of costly errors. Check out these tips and prepare to tackle this tax season with confidence.
Qualified charitable distributions from an IRA provide individuals over 70 1⁄2 with a way to receive income tax savings on charitable gifts — even if they decide to take the newly increased standard deduction. In this blog post, discover tips for getting tax savings on charitable contributions and learn more about QCDs.
Find out everything you need to know about charitable remainder trusts (CRTs), which are vehicles that move highly appreciated assets into income producing assets over a period of years, with the remainder of the donated assets going to your favorite charity or charities.
Find out everything you need to know about qualified charitable distributions (QCDs), which is a way to give from your pre-tax IRA account directly to a charitable organization and avoid being taxed on the amount given.
Find out everything you need to know about donor-advised funds (DAFs), which is a tax advantaged way to give to your favorite charities.
Did you know you may be able to take your 401(k), 403(b), or 457 plan and roll it into another type of retirement account while you are still working? Let’s look at how these rollovers can happen and the pros and cons of making them.
While they’re both worth getting excited over, it’s important to understand the fundamental differences between tax credits and tax deductions.
Having a tax-focused understanding of your investments is an important component of preserving wealth. Here are a few tips for high-earners.
