This week, Smith Barney will become the first firm to make a change to its payout grid as a result of the securities industry’s recent battle over broker overtime pay and so-called chargebacks (when the firm charges the reps for things like...
The private annuity was just stripped of it's most alluring benefit—capital-gains tax deferral. Long favored by the wealthy because it allowed them to avoid huge capital-gains taxes on appreciated real estate (or any other appreciated asset...
Small broker/dealer firms are trying to slow the proposed merger between the NASD and NYSE Regulation, saying that it’s being pursued too hastily and the consequences are not clear. In a letter to NASD committee members, the Financial...
Here is a new twist in the broker overtime pay lawsuits: The Department of Labor (DOL) says brokers are not entitled to overtime pay after all. Well, that is, unless the DOL is wrong, which it allowed could be the case. (No kidding.)
Act quickly. This year and next, there’s a chance for people who are at least 70½ years old to donate funds from their individual retirement accounts (IRAs) directly to charities without incurring income tax on the donation.
Merrill Lynch has decided to consolidate the numerous overtime lawsuits that have been filed against the firm and settle nationally with its brokers. It is the third securities firm to do so—earlier this year, both UBS and Smith Barney...
Along with holiday festivities, December offers you and your clients a couple of weeks to sort out tax-preparation plans. And for the average American that increasingly means planning for the alternative minimum tax (AMT).
Not everybody is cheering the formation of a single self-regulatory organization. An insurgency of small brokerage firms is urging their peers to strike down yesterday's announced merger between the regulatory arms of NYSE and NASD. The Financial...
Why consider looking for forms on the Web? There are numerous websites with trusts-and estates-related drafting forms and drafting advice, both for free and for a fee. You should, of course, shop for such forms with the same care you apply to...