Financial Literacy


American companies can no longer afford to offer their employees adequate pensions, nearly three of four respondents (74%) said in an AICPA survey of CPAs serving as senior corporate executives ( www.aicpa.org/news/index.htm ). “This is a wake-up call,” said AICPA business and industry vice-president John Morrow. “Employees will have to find other ways to finance their retirement.” Fifty-nine percent of survey participants agreed, saying Americans will have to educate themselves about retirement savings strategies. To that end, the Web site of the AICPA’s 360 Degrees of Financial Literacy campaign ( www.360financialliteracy.org ) offers hundreds of free tools and resources to help consumers better understand and manage their personal finances. Volunteer opportunities are available for qualified CPAs; go to www.360financialliteracy.org/ for information on how you can help members of your community reach their lifetime financial goals.

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.