Rep. Dave Camp, R-Mich., chairman of the House Ways and Means Committee, and Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, say they will travel around the U.S. to learn more about the tax-reform goals of citizens and business owners. The two launched a Twitter account and website last month in preparation for a tax-code rewrite.
Clients have been increasingly asking advisers for information about tax-deferral investment strategies, according to a survey by Jefferson National. Tax-efficiency strategies and a push to increase investment allocation in alternative assets will be a focus for advisers going forward, the research indicates.
High-net-worth individuals are finding ways to make last-minute use of the gift tax's exemption levels for 2012. Tactics include forgiving loans to family members and setting up a trust in which cash is deposited now to be exchanged for assets later.
Fifty-seven percent of investors surveyed by Fidelity Investments said their financial advisers proved their value under market conditions this year. The remaining 43% of those surveyed said their advisers failed to earn their keep during that same period.
Many people think of life insurance as a necessary investment for those with young children or new mortgages, but advisers suggest thinking of life insurance policies -- even term policies -- as a way to maximize pension or Social Security benefits or as part of estate planning.