Tim Steffen
Tim Steffen is director of advanced planning for Baird. Follow him on Twitter @TimSteffenCPA.
Tim Steffen is director of advanced planning for Baird. Follow him on Twitter @TimSteffenCPA.
The change may not be that big a deal for many clients, but they need to understand their options.
Understanding options with residential deductions is a great way to add value for clients.
The point of the kiddie tax is to avoid parents transferring income to their children and reducing their total tax cost.
Residency rules can be very complicated, and states can be aggressive in taxing former residents.
There's only one way to ensure you get the full tax benefit of those contributions.
There's only one way to ensure they get the full tax benefit of those contributions.
It's likely that a replacement health care plan would have some tax impact, leading to new planning opportunities for financial advisers and their clients.
Tax projections at this time of year will tell individuals their total tax liability for 2016, but that doesn't necessarily mean it all has to be paid before the end of the year..
Make sure your clients fully understand the tax implications and overall risk profile of what they're buying.
Choosing between a traditional and Roth 401(k) is essentially a bet on how your clients' future income tax rates will compare to their current rate.
