Personal Financial Planning / Tax
A popular estate planning technique in today’s growing real estate market is to transfer a residence to a qualified personal residence trust (QPRT) to reduce the size of the estate. This article provides a case study on the mechanics of creating and funding a QPRT and discusses the savings, benefits and disadvantages of having one.
Bankruptcy / Tax
Several statutory and regulatory provisions require payers and payees to match income and deductions in the same time frame and for the same amounts. The various rules are similar, but not identical. CPAs need to be aware of the similarities but also the differences—and which rules are (or are not) applicable. This article discusses several of the relevant provisions and their ramifications for CPAs and their clients.
Litigation Support / Practice Development
How can you best guide clients through a financially complex divorce? Don’t take sides. A neutral forensic accountant—chosen by a court or by both parties—makes it easier for divorcing couples to settle financial issues.
Case Studies
A business plan provided a road map for Buckingham Asset Management Inc./BAM Advisor Services LLC to grow from four cofounders to an organization with more than $6 billion in combined assets served. This article describes the major steps in the firm’s PFP business development plan.
Tax / Technology
Data from more than 2,000 AICPA Tax Section members responding to the Journal of Accountancy annual tax software survey help you decide which product is best for you.
Bankruptcy / Tax
Private aircraft ownership can help companies avoid many of the travel restrictions imposed in recent years. But there are some complex tax, financial, operational and regulatory issues involved in acquiring and operating a business aircraft.