Disagrees With Tax Planning Tip

BY COOK

I do not agree with the recommendation to pay IRA fees out of separate funds stated in “Tax Planning Tips for 2000 and Beyond,” ( JofA, Nov.99, page 10). What percentage of taxpayers gets any tax benefit from miscellaneous deductions subject to the 2% rule?

If the fee is paid out of IRA funds, you do lose the tax deferred earnings on the fee, but you get a tax deduction (in effect) since the taxable income will be less upon withdrawal.

William A. Cook, Jr.
Roanoke, Virginia

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.