August 2018

Top five TCJA tax planning opportunities for individuals in 2018

By Shaun Hunley There are no fewer than 130 new tax provisions in the Tax Cuts and Jobs Act, according to Shaun Hunley, a technical editor of PPC products for Thomson Reuters Checkpoint in the Tax & Accounting business of Thomson Reuters, but with tax practitioners starting to focus on helping clients address the act’s impact, he

Can a Special Needs Trust Pay for Housing Without Reducing SSI Benefits?

Trustees of special needs trusts generally have wide discretion in determining whether to distribute funds to trust beneficiaries. But if the person with disabilities receives Supplemental Security Income (SSI), careful precautions should be taken before any trust funds are used to pay for housing costs. For the year 2018, federal guidelines set the maximum monthly SSI benefit at $750

3 reasons IRAs have edge over 401(k)s when it’s time to tap your nest egg

By Adam Shell, USA Today For most working Americans, the savings vehicle of choice is a 401(k). But a flood of retirement savings dollars moving from these employer-sponsored plans to IRAs suggests that retirees or workers nearing the end of their careers favor individual retirement accounts when it's time to tap the cash they've amassed. Older Americans