Have you filed your taxes yet? The tax season officially started on January 29, 2024, when the Internal Revenue Service (IRS) started accepting and processing returns. Before you submit your 2023 tax return, however, there are some things you’ll need to think about first.
As we approach the year-end, seasoned advisors are gearing up for the annual ritual of tax-loss harvesting, a strategic maneuver aimed at optimizing client portfolios. As we delve into this year's year-end maneuvers, our aim is to approach the process with wisdom, finesse, and the understanding that our clients’ portfolios and overall tax circumstances differ.
A common debate among investment forums is regarding the merits of active versus passive portfolio management. Whatever method an investor chooses, they will need to weigh their financial goals, the time horizon, and risk tolerance into their strategic long-term asset allocation approach.
This article is designed to broadly discuss investment return taxation, while covering a range of topics, including the types of income, basis, capital gains and losses, holding periods, taxable income considerations, and the strategic use of capital losses.
President Biden and House Speaker McCarthy met to discuss raising the statutory limit on U.S. government debt, generally called the debt ceiling. Although both leaders called the discussion "productive," no resolution was reached but their respective negotiating teams continued the discussions.
Long-term bonds generally provide higher yields than short-term bonds, because investors demand higher returns to compensate for the risk of lending money over a longer period.
A donor-advised fund offers an easy way for a donor to make significant charitable gifts over a long period of time. A donor-advised fund is similar to a private foundation but requires less money, time, legal assistance, and administration to establish and maintain. A donor-advised fund also enjoys greater tax advantages than a private foundation.