Today senior citizens can choose from a variety of living arrangements.
Significant event planning
It’s vital that your clients have certain documents in place to protect themselves and their assets in the event of their physical or mental incapacity.
Student loan arrangements can have unforeseen, long-lasting implications for a family’s financial future.
When clients wait too long to plan, they can find themselves scrambling to pay unexpected bills.
Students can practice smart financial management habits that help ensure they’re able to pay off their loans.
It’s important clients have a plan in place in the unlikely event that they will need to make medical or financial decisions on behalf of their college-student children.
In a demanding field like accounting, it helps to consider what effect having a child will have on your job.
In a recent survey, students said their college loan debts will cause them to delay such life goals as moving out of their parents’ home, buying a house, having kids, and getting married.
This column can help clients visualize the consequences of not having an up-to-date plan.
If patients don’t fully understand the cost of their treatments, or if they assume their insurance plan will take care of them, they can be hit with expensive surprises.
Students may be overconfident about their ability to manage money, a new AICPA survey has found.
More than half of the 1,010 U.S. adults surveyed said they had put off important life goals such as buying a home, retiring, or pursuing higher education.
More than one-third (37%) of CPA financial planners said that elder financial abuse caused “substantial” emotional harm to clients, according to the new AICPA PFP Trends Survey.
More than one-third of Millennials wish they had delayed going to school in order to save more money first.
CPAs should be cognizant of the professional liability risks that may exist when working with aging clients.
As the wave of Baby Boomer retirements continues, it is more important than ever for CPAs to understand how to help clients be in the best position to maximize Social Security benefits. Mastering the intricacies of the rules is no easy task, especially for accountants who don’t concentrate full time
As Americans enter old age in rapidly increasing numbers, more accountants will run into situations like the one a Virginia CPA encountered last year. The CPA spent five hours rummaging through the home of a 94-year-old client, trying to find the paperwork needed to complete the man’s 2010 tax return.
The Tax Court held that payments made to an elderly woman’s caregivers for personal care that she required due to her diminished capacity qualified as long-term-care services and were therefore deductible under IRC § 213(d)(1)(C) (Estate of Baral, 137 TC no. 1 (2011)). Lillian Baral was diagnosed by her physician
Jack is agitated. He has been a client for 10 years, and is now 80 years old. He lost his wife of 40 years a year ago. At your last meeting six months ago, Jack was engaged and paid close attention. Today, he is easily distracted. While he has trouble
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