Tax Law News and Insights

While the news is filled with the ongoing tax reform activity in Congress, there is one tax change that is already in place to take effect January 1, 2018 – the repeal and replacement of the tax audit regime for partnerships.  For all tax years beginning on or after January...

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Roth IRAs—with their promise of tax-free growth and withdrawals—are appealing retirement savings vehicles. However, income restrictions typically limit the ability of high-income earners to contribute to these accounts. Fortunately, there are strategies for getting around these restrictions, including using "backdoor" Roth IRAs. Right for You? The primary difference between traditional...

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In a recent article, Financial Advisor Magazine discussed the September 27th proposal to eliminate the estate and generation-skipping transfer tax (GST), which was presented by the Trump administration. According to current federal law, a client's income-tax basis (in terms of inherited property) is valued on the decedent's date of death. However, the...

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