Professional Issues

Americans are concerned about retirement savings, health care and educational costs, according to an AICPA survey. Thirty-two percent of respondents from the AICPA Financial Planning Membership Section said their clients are postponing retirement for financial reasons. “Many baby boomers are discovering their retirement kitty is not as big as it needs to be to fund a comfortable retirement and that they are going to have to work longer than they had intended,” Jim Metzler, AICPA vice president–Small Firm Interests, said in a news release.

One-third of survey respondents said clients between the ages of 25 and 34 are foregoing buying a home, having children and even saving for retirement. Higher credit card debt due to unnecessary spending is increasing the need for education and guidance to help improve the financial well-being of Americans of all ages, according to Carl George, chairman of the AICPA’s National CPA Financial Literacy Commission.

The survey results can be viewed at Results.pdf.


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.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


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.