On April 6th, the Department of Labor finalized a rule which has been years in the making. You may have seen provocative headlines such as: New Fiduciary Rule for Financial Advisors Prohibit Conflicts of Interest DOL Rule Forces Financial Advisors to Do What’s Best for Clients Investment Advice Just Got a Lot Safer Summary I’ll cut to the chase before I go into the details. The rule requires that investment advice given on tax deferred accounts (IRAs and others) be held to a... Read More

The end-of-year drama that played out in Washington as the President and Congress negotiated over Fiscal Cliff legislation is behind us for now. The result is the American Taxpayer Relief Act of 2012. We enter 2013 with some relief that legislation was passed, some delight in the permanence of the new law, some irritation that the result was not the comprehensive solution needed, and some trepidation that this is just an intermission until the Federal Government is faced with the need to... Read More

On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law. In addition to providing a 13-month extension of benefits for the long-term unemployed, the legislation includes a long-anticipated extension of the "Bush tax cuts" that were scheduled to expire on January 1, 2011. Other significant provisions include a new alternative minimum tax (AMT) "patch," a major modification of the estate tax, and a new 1-year 2% employee... Read More

We all know that taxes will be going up in 2011, as Bush-era tax cuts enacted in 2001 and 2003 are set to expire. As lawmakers battle over whether to extend any or all of them, the question becomes how much and for whom taxes will increase. This informative and interactive article from the Washington Post sheds some light on what the future may hold. Tax breaks fight vs. your pocket Read More

Congressional Follies and Estate Tax Repeal When the clock strikes midnight on December 31st, 2009, something remarkable will happen. For the first time since 1916, the estate tax will be completely eliminated, or will it? Thanks to Congress, we enter 2010 with massive uncertainty regarding this very complex and costly issue. President Bush’s Wishful Thinking President Bush’s 2001 tax cuts gradually phased out the estate tax, resulting in a complete elimination in 2010. But,... Read More