Tax

Those who leave the workforce can maximize the tax benefits by donating a portion of their IRA assets directly through a qualified charitable distribution

Asked directly whether she can vote for the measure as written, Collins said, “I haven’t reached that conclusion yet.”

Hours after House Republicans jubilantly passed their tax bill, their colleagues on the Senate Finance Committee approved a far different version – one that postpones difficult questions as lawmakers rush to refashion much of the U.S. economy on a tight deadline.

House Republicans passed their version of legislation to overhaul the U.S. tax code by slashing the corporate tax rate, lowering tax burdens for most individuals and adding an estimated $1.4 trillion to the federal deficit over the next decade.

President Donald Trump delivered a pep talk to House Republicans as they were poised to pass a tax overhaul bill Thursday afternoon and argued them to next target government welfare programs.

Revisions to the Senate Republican’s tax-overhaul plan would create heftier upfront tax breaks for the middle class and small businesses -- and then wipe them off the books by 2026.

Lack of ACA repeal language seen as positive, but many were hoping to see Cadillac and policy tax relief.

The tax plan would make itemized deductions less valuable so some retirees would lose a deduction that covers payments for nursing homes, assisted living or inpatient hospital care.

Clients who intend to name minor children as beneficiaries of their IRAs should take taxes into consideration before making a decision.

Clients who intend to name minor children as beneficiaries of their IRAs should take into consideration the "kiddie tax" before making a decision.