Tag: tax reform

What both candidates have proposed as it relates to the retirement industry. 

Mostly party-line House action this week included passage of the Family Savings Act, which features key provisions drawn directly from the popular Retirement Enhancement and Savings Act.

A trio of bills introduced before the House Ways and Means Committee this week offer the first detailed look at Republican Congressional leaders’ hopes for “Tax Reform 2.0,” which include many initiatives supported broadly by retirement industry stakeholders. 

The National Tax-Deferred Savings Association updates its reference guide ‘The Source’ to reflect last year’s tax reform and the DOL fiduciary rule derailment. 

The Tax Cuts and Jobs Act has also increased Americans’ appetite for equities.

Fifty-three percent say that working with an adviser could help them meet their goals.

A survey of 1,000 Americans found 35.7% of respondents are going to use the money to pay down debt faster, 12.8% are going to use the money to save more for retirement, and 3.5% are going to use the money to invest in the stock market.

Since the 20% deduction of qualified business income means that a self-employed individual will be taxed at a lower rate than an employee performing substantially the same work with a broker/dealer firm, might more brokerage employees be driven to act as independent contractors?

The net result of the Tax Cuts and Jobs Act is that many clients will have a lower effective tax rate, and this can have a direct impact on small pass-through business owners’ decisions about running retirement plans.

More than one-quarter of organizations have or are planning or considering increasing 401(k) contributions, Willis Towers Watson finds.

“Understanding and discussing the tax impact of your investment and retirement account withdrawal recommendations is not the same thing as giving tax advice,” explains Joe Elsasser, president of Covisum.

One change in the law means that in many cases, a participant will have more time in which to effect a tax-free rollover of a plan loan offset amount that occurs following termination from employment.

Mercer introduces their top 10 key tips for endowment and foundation (E&F) committees to understand and implement throughout the year. 

DB plan sponsors may want to make a voluntary contribution to their plans in 2018 to claim a deduction at their former, higher tax rate, according to Michael A. Moran, with GSAM.

Changes to the tax code will impact retirement planning beyond individual and pass-through business taxation; investing support tools and tax management platforms trusted by advisers have to make their own adjustments.

Newly leveraged Employee Stock Ownership Plans that borrow a large amount may find that their deductible expenses will be lower.

The text of a combined bill drawing together the House and Senate proposals is slowly emerging ahead of critical up-or-down floor votes scheduled for early next week.