On Taxes and Retirement, Here’s What Could Change in 2025
Jeff discusses potential changes in tax policy and its’ impact on retirement in 2025 and beyond.
Trump Has Proposed Nearly $8 Trillion in Tax Cuts. What Happens Now?
Jeff commented on an article for Think Advisor regarding his pos-election Trump presidency thinking.
The perfect fiscal policy storm of 2025
What advisors and investors need to know about 2025. Jeff shares his thoughts on the “perfect fiscal policy storm” looming next year.
The Most Fascinating, Boring Election Of Our Lifetime
Jeff shares his commentary on the election, and tax reform with the Wealth Solutions Report.
Advisor Campaign Donors Tilt Toward Trump
Putting your money where your mouth is… Jeff comments for a WealthManagement.com article on how financial advisors are contributing to the 2024 POTUS campaigns.
How a President Harris Would Tax the Wealthy
Taxes, taxes, taxes: Jeff provides his insight into Harris’s tax plan for ThinkAdvisor.
IRS to Crack Down on Tax-Dodging Asset Shifts
Jeff comments on IRS’s crackdown on basis-shifting. Basis-shifting strictly to avoid taxation and re-depreciation is not allowed, and the IRS is looking for it after discovering significant abuse while auditing partnerships.
TCJA Expiration Unthinkable? Think Again
From a tax philosophy perspective, the 2024 election sets the course of the country’s taxation for the next decade. 2025 is a big year for tax reform. At the end of the year, barring any tax reform legislation, The Tax Cuts and Jobs Act (TCJA) of 2017 will expire as if it never existed, except for the lower corporate rates of 21%. The TCJA’s lower corporate rate is permanent until changed by a future Congress. In this scenario, Washington does not agree on tax reform next year, and we would return to the 2017 tax code with the limits indexed for inflation. It [...]
New Bill Halves Estate Tax
House member Jodey Arrington, R-Texas, outlines his plan for estate tax reform. Jeff offers his perspective to ThinkAdvisor.
Navigating the 2024 Presidential Election: A Strategic Guide for Business Owners
Jeff comments in Forbes on how business leaders should be factoring in the elections and looming tax changes.
House Panel Advances Tax Bill With 100% Bonus Depreciation
The House Ways and Means Committee passed by a 40-3 vote Friday new bipartisan legislation, the Tax Relief for American Families and Workers Act of 2024, which includes 100% bonus depreciation as well as research and development expensing and also expands the Child Tax Credit. The bill now moves to the House floor.
Curious about the bipartisan 2024 tax bill?
Jeff comments on the impact of the tax bill being negotiated by Congress and how it will impact business owner clients.
Dems’ revive billionaire tax proposal
Jeff comments for ThinkAdvisor on the revived proposal to tax billionaires and filers earning over $100 million annually. There is no chance of passing in this legislative cycle. The Supreme Court and the 2024 election outcomes will decide its fate.
Texas to Vote on Wealth Tax Ban in November
Jeff comments on Texas Proposition 3 to ban wealth taxes and expands the discussion to Federal tax policy implications.
Government Shutdown and the Economy
Jeff comments for ThinkAdvisor regarding the economic impact of a potential government shutdown.
These State Tax Changes Kick In July 1
Jeff comments for ThinkAdvisor on how state tax trends could impact the Federal tax debate in 2025.
Big GOP Tax Package Would Boost Standard Deduction
Jeff comments on the content and likelihood a new GOP tax bill will move through Congress and become law. The bottom line is, don’t count on it.
Dealing With the Debt Ceiling, Redux
Janet Yellen suggested that the US could default as soon as June 1st, 2023, if Congress does not raise the debt ceiling by that date. The debt ceiling sets the limit on how much money the US Government may borrow. If Congress does not increase the debt ceiling, the US, unable to borrow, cannot pay interest on the national debt and risks going into default.
Lawmakers to push off Social Security reform until point of political pain
Jeff keynotes at InvestmentNews Retirement Income Summit, sharing broad insights on the 2024 election, Social Security, and tax reform.
Changes to retirement planning for investors
Jeff discusses recent retirement planning changes brought about by SECURE Act 2.0 with American Century clients
SECURE Act 2.0 included in Omnibus
Jeff comments for ThinkAdvisor re the inclusion of some interesting planning opportunities for advisors & clients in SECURE Act 2.0
GOP’s rough night and SECURE Act 2.0
Jeff comments for ThinkAdvisor on the SECURE Act 2.0 passing in a very busy lame duck session.
‘No Chance’ for Tax Changes but Expect SECURE Act 2.0 Passage This Year
Jeff comments for ThinkAdvisor on the SECURE Act 2.0 passing in a very busy lame duck session.
Andy Friedman Says SECURE 2.0 Should Pass After Midterms
Andy discusses the state of retirement and other legislation moving through Congress.
Concerned about increased IRS Audit rates?
Jeff explains the Inflation Reduction Act’s $80B investment in the IRS and its impact on investors.
Why Secure Act 2.0 Will Pass This Year
Jeff comments on the likelihood of SECURE Act 2.0 passing in 2022
2 Ways the Inflation Reduction Act Hits the Wealthy
Jeff Bush explains the Inflation Reduction Act’s Investor Impact
3 Tax Plans in Play in Congress Now: The Washington Update
Jeff Bush Explains The Tax Landscape Ahead Of Democrat's Legislation Push
Battle Over Tax Hikes, Spending Bill Is Heating Up
Andy discusses the prospects and scope of tax legislation this year.
Possible Inflationary Impacts of Corporate Tax Increases
Jeff comments on the inflationary potential of a corporate tax increase and how it might impact everyday Americans.
Wealth Transfer Under the Biden Tax Plan
President Joe Biden is proposing to eliminate “stepped-up basis” on property transferred at death. Under his plan, unrealized appreciation would be subject to capital gains tax at the time an asset is transferred by gift or bequest. This white paper considers the implications of a repeal of stepped-up basis, as well as other changes Congress might make to the gift and estate tax regime. The paper also sets out potential planning strategies for investors to consider to blunt the effects of the new rules.
2 Tax Surprises Revealed in Biden’s Budget
Andy points out some surprising elements of the Biden tax plan described in a new Treasury Department report.
Andy Friedman: Tax Bill Is a Must-Do This Year
Think Adviser profiles Andy Friedman, including his insights on taxes and his favorite avocations.
Biden’s $1.5T Tax Plan: What Do Financial Advisors Think?
Andy provides his thoughts on Biden’s proposed tax increase on individuals.
Market Reaction to Biden’s Capital Gains Tax Plan Surprises Political Pundits
Andy discusses the prospects of a capital gains rate increase under the Biden tax plan.
Sen. Bernie Sanders Introduces Estate Tax Bill
Andy discusses likely changes to the estate tax under Democrats’ tax plan.
Sen. Warren Introduces Wealth Tax Bill
Andy explains the impracticality of a wealth tax.
Many Biden Bills Will Languish as Filibuster Remains Intact
Andy discusses the consequences of the Senate’s agreement to retain the filibuster.
9 Likely Picks for Biden’s Economic Team
Andy discusses possible changes to the DOL fiduciary rule under the Biden Administration.
2020 Election Predictions: Carville, Valliere, Friedman Weigh In
Andy correctly predicts not to count Trump out as the polls open on Election Day.
Trump Needs Every Undecided Voter, Pundit Tells Agents
Jeff discusses the pre-election landscape prior to November 3rd, handicapping the presidential race and summarizing Biden’s tax plan.
Trump Looking ‘Seriously’ at Capital Gains Tax Cut
Andy Friedman discusses the viability of an Executive Order to lower the tax on capital gains.
The Coronavirus Legislation: An Overview
Congress has enacted three pieces of legislation aimed at helping individuals afflicted by the coronavirus and providing fiscal stimulus to restart an economy that has been devastated by the virus’s effects. The legislation has wide-ranging consequences for individuals, businesses, and the economy. This white paper summarizes the major provisions of the the legislation. It also summarizes the actions taken by the Federal Reserve to support the economy. Finally, the paper sets out some provisions that might be included in a forthcoming fourth piece of legislation.
3 Ways Coronavirus Could Derail Trump’s Reelection: Andy Friedman
One factor: The market drop could erode consumer confidence, and the adverse economic effects could linger until Election Day.
IRS Floats Updated Regs on Business Meals, Entertainment
Tax lawyer Andrew Friedman tells ThinkAdvisor what advisors should know about the proposed rules.
Senate Passes Secure Act With Spending Bill
Trump is expected to sign it into law Friday; Andy Friedman notes some less-noticed aspects of the bill.
Secure Act Could Pass in December Spending Bill: Andy Friedman
The big retirement bill won't get attached to a short-term CR, but retirement industry advocates are hopeful it can still pass this year.
The House Considers Impeachment: Where Do We Go From Here?
A new potential contributor to market volatility is the recently announced House inquiry into whether there are grounds to bring articles of impeachment against President Trump. This white paper considers the paths the impeachment inquiry might take. It reviews the alleged facts, discusses how the House and Senate deliberations might proceed, and considers how the ancillary consequences of the inquiry, as well as the inquiry itself, could affect the markets.
A Laid-Back Summer in Washington? What to Watch For
Summer is a time to kick back and put the year’s bustle on hold. But summer inactivity doesn’t bode well in Washington when there are deadlines to meet and matters to address. As the summer commences, two percolating issues should hold investors’ attention. This white paper discusses those issues and their likely market effects.
Secure Act Savior Could Be In Upcoming Appropriations Bill
Andy and Jeff provide their views on legislation to fund the federal government, and whether that legislation might provide a vehicle for Congress to pass the SECURE Act.
How Trump-Fed Game of Chicken Will End: Andy Friedman
Who will blink first — and when? A Washington insider offers ThinkAdvisor his thoughts.
Market Pullback Possible Over Trade, Tariffs: Andy Friedman
The president's use of tariffs "has confused the markets and caused volatility,” the Washington Update author says.
Human Capital
Andy considers how the resignation of Labor Secretary Acosta could affect the fiduciary rule.
A Laid-Back Summer in Washington? What to Watch For
Summer is a time to kick back and put the year’s bustle on hold. But summer inactivity doesn’t bode well in Washington when there are deadlines to meet and matters to address. As the summer commences, two percolating issues should hold investors’ attention. This white paper discusses those issues and their likely market effects.
Tax Reform Aftermath: Pass-through Business Tax Update
Our last tax update, Tax Reform Aftermath: New Guidance for Investors, discussed in part the steps small business owners might take to claim and maximize the 20% deduction afforded by the Tax Cuts and Jobs Act. Since we wrote that paper, the IRS has clarified the application of the provisions that govern these strategies. This white paper explains how owners of businesses organized as pass-through entities should take the new guidance into account in their tax planning.
Two Big Retirement Bills in Congress
Andy Friedman discusses possible changes to the tax treatment of “stretch IRAs”.
Tax Reform Aftermath: New Guidance For Investors
Since Congress passed the sweeping Tax Cuts and Jobs Act at the end of 2017, the IRS has issued substantial guidance interpreting portions of the Act. Much of this guidance favors investors by softening limitations and disallowances that the Act imposes. This white paper, Tax Reform Aftermath: New Guidance for Investors, reviews this guidance and provides helpful strategies investors may consider in filing their 2018 returns in April and beginning their tax planning for 2019.
Scaling Back the Affordable Care Act
Since the election of President Trump and the Republican-controlled Congress in 2016, the legislature, the courts, and the administration have taken actions and issued guidance in an effort to curtail the scope of the Affordable Care Act (“ACA”). The actions and guidance have been sporadic, making it difficult to determine their interrelation and import. This white paper describes and explains the confusing array of incentives and payments that the ACA contemplates. It goes on to discuss the effect and interaction of government efforts to reduce these payments and to scale back the scope of the law.
Experts Reveal Tips for Handling Politically-Induced Volatility in 2019
Andy Friedman explains why events in Washington are likely to produce a year of volatility in the markets
6 Tax Issues Investors Should Keep Top of Mind: Andy Friedman
Former tax attorney Andy Friedman of The Washington Update highlights SALT workarounds, SMAs and charitable IRA donations.
Why A Wealth Tax Has No Chance
Speaking at the Investment & Wealth Institute's annual Investment Advisor conference, Andy Friedman discusses the future direction of tax rates and why it would be difficult to implement an annual tax on wealth.
IRS, Treasury Clarify QBI Tax Deduction
Andy Friedman weighs in on IRS guidance addressing the 20% deduction for pass-through businesses.
Maxine Waters to Keep ‘Watchful Eye’ on Regulators
Andy Friedman discusses the matters Maxine Waters will investigate as the new Chair of the House Financial Services Committee, and the likely market effects of the investigations.
Friedman: Appropriations, Border Wall, Retirement Collide in December
A potential government shutdown could “roil the markets.”
Trump Today: President raises shutdown specter by calling spending bill ‘ridiculous’
Andy comments on the likelihood of an October 1 government shutdown.
Congress Returns as the Election Looms
Congress returns for its fall session with a number of items on its plate. First up is the usual fall wrangle, funding the government to avoid a shutdown. But other items are new and could have far-reaching effects for investors, including a bipartisan threat to “stretch IRAs”. This white paper considers the risk of a government shutdown, and goes on to review and provide a prognosis for the other items Congress is likely to consider this fall, including “Tax Reform 2.0”.
Congress Back in Action With Kavanaugh Hearings, Tax Reform 2.0
Andy Friedman discusses what Congress will and won’t do as it returns for the fall session.
What Trump’s Order on RMDs, MEPs Can and Can’t Do
Andy Friedman discusses the limits on Trump’s executive order to expand multi-employer plans and loosen required minimum distributions
Jeff Bush shares his insights and market reaction to Steve Bannon leaving the Trump administration.
Jeff Bush of The Washington Update joins CNBC Nightly Business Report to discuss market reactions and prognosis for legislative accomplishments with the departure of Steve Bannon from the Trump administration.
Jeff Bush discusses market reaction to the disbandment of president Trump’s advisory councils.
Jeff Bush of The Washington Update joins the CNBC Nightly Business Report to share insights on how the markets are likely to react to president Trump’s advisory councils being dissolved.
The 2018 Midterm Elections: Context and Cross Currents
The different and constantly changing polls make it difficult at this point to reach a definitive conclusion regarding the midterm election results. Moreover, future events – particularly those occurring in late October and November – almost certainly will have an outsized influence on the outcome. But even now we can consult certain metrics to determine which party heads into the election with tailwinds, and which party is likely to have to overcome headwinds to win. This white paper examines these cross currents.
Kudlow Says Trump May Be Bluffing on China Tariffs. Is He Right?
Andy Friedman weighs in on whether the tariffs are a negotiating tactic or something more.
4 Tax Planning Opportunities Under New Itemized Deduction Rules: Friedman
The doubling of the standard deduction creates a new tax planning paradigm former tax attorney Andy Friedman says.
Managing Deductions and Expenses Under The Tax Cut and Jobs Act of 2017
The new deduction rules of the Tax Cut and Jobs Act offer a significant, as yet uncharted opportunity for tax and financial planning. Some of these planning opportunities stand formerly conventional wisdom on its head by making it unwise for taxpayers to incur expenses that qualify as itemized deductions – even under the more restrictive rules of the Act. This white paper addresses the interplay of the Act’s new rules for tax deductions. We provide a framework to help taxpayers determine whether to incur deductible expenses and some planning opportunities to maximize the tax benefits these deductions can provide.
Beyond Tariffs, 2 More Issues May Rock Markets: Andy Friedman
The markets don't like tariffs but otherwise “do not want to see [Trump’s] initiatives impeded or interrupted,” Friedman says.
DACA and the construction industry
Jeff comments for Construction Dive, an industry magazine, on DACA and its impact on the labor pool.
Tax Reform Accomplished: How Does the Legislation Affect Investors and Businesses?
As 2017 drew to a close, Congress passed the Tax Cuts and Jobs Act, tax reform legislation that made sweeping changes to the Internal Revenue Code. When Congress last reformed the tax code in 1986, the legislative process took over two years. This time Congress accomplished the same feat in two months. This white paper discusses the portions of the Tax Cuts and Jobs Act that are of particular importance to business owners, investors, and financial advisors. We point out situations that are likely to fare better and those likely to fare worse under the legislation. At the end, we present a chart of “winners and losers” that takes into account these individual situations. The chart also shows business and economic sectors particularly likely to be affected by these tax changes, thereby potentially altering their equity valuations.
Valliere & Friedman: Government Shutdown Has Upside, Downside for Investors
Andy Friedman discusses the likelihood and consequences of a federal government shutdown.
New Tax Law Could Change How Clients Invest: Andy Friedman
Advisors must help clients decide how to ‘take advantage, or blunt the adverse effects’ of the sweeping tax law's changes
GOP Releases Final Tax Cut Bill
Legislators ‘kept virtually the entire corporate cut and made sure it starts next year,’ says Andy Friedman of The Washington Update
Andy Friedman Answers Top 7 Advisor Tax Bill Questions
Friedman, a former tax attorney, answers questions on alimony, deferred compensation and more
Maintaining Business Stability Amid Political Turbulence
Navigating the storms of policies and regulations calls for the skill and composure of an experienced pilot
Tax Reform Winners and Losers: Andy Friedman
Friedman sees tax reform passing by year-end, lays out how bill impacts sectors, investors
House Passes GOP Tax Reform Bill
Andy Friedman comments on the likelihood of Congress passing tax reform
Maintaining Business Stability Amid Political Turbulence
Jeff authors an article helping business owners navigate the turbulent political environment.
Senate Democrats Rip GOP Tax Limits on 401(k)s, Offer Their Own Plan
Andy Friedman comments on the Republican plan to curtail deductible 401(k) contributions
Jeff Bush discusses the possibilities of Tax Reform on CNBC
Jeff Bush of The Washington Update joins the CNBC Nightly Business Report to discuss the possibilities of Tax Reform.
Andy Friedman: Left, Right and Center Slug It Out on Health Care
GOP Graham-Cassidy bill comes up for vote next week, while Bernie Sanders' single payer concept stands 'no chance'
ACA Repeal Dead, but Tax Cuts Likely Coming: Andy Friedman
Upcoming fiscal deadlines could lead to a government shutdown, but tax reform bill will satisfy markets, Andy Friedman says
Tax Cuts to Happen in ’17: Andy Friedman
Andy shares his views on tax reform, DOL, and a potential government shutdown at the Raymond James national conference
How Trump’s Tweets Affect Your Investment Portfolio
Andy discusses the likely effect of Trump’s policy proposals on the economy and the markets.
A New Administration in Washington: How Will Trump’s Policies Affect Taxes, Investments, and the Markets?
President Trump's initiatives promise to have far ranging effects on taxes, health care, sector regulation, government spending, and the country's fiscal situation. This paper lays out the initiatives we expect Trump to pursue during his first year in office. We consider the extent to which Trump can expect support from the Republican-led Congress and the impediments that nonetheless may stand in the way. And, finally, we discuss how the new administration's programs are likely to affect the economy, industry sectors, tax planning, investments, and the markets.
AICPA Issues Updated Tax Guide for CPA Financial Planners
Republican-controlled Congress will address individual and corporate tax reform together, says Andy Friedman.
Widespread Tax, Regulatory Easing on Horizon Under Trump
Andy addresses the prospects for tax reform under the new Trump administration.
Insana: I didn’t support Trump, but I’m gonna make a killing on his tax plan
Ron Insana of CNBC cites Andy as the basis for a discussion of Trump's tax plan
