Mike Landsberg, CPA/PFS, discusses what he’s seeing in terms of charitable giving this year, how the CARES Act has affected giving, and how clients can use giving to save on taxes while contributing to causes that matter to them.
Personal financial planning
Only 26% of taxpayers have changed their withholding since Form W-4 was revised in 2019, an AICPA survey found.
This article offers answers to questions from clients who are concerned about protecting their estate from tax changes that might happen in 2021.
Tax-savvy and risk-averse strategies come to the fore.
Karla D’Alleva Valas leads Fidelity Charitable’s adviser success strategy focused on CPAs who prioritize charitable planning as integral to their practice. Previously, she led the Complex Asset Group, a team of attorneys working with CPAs to facilitate charitable donations of appreciated private company stock and other nonpublic assets.
Advisers face the difficult task of helping clients plan for next year without knowing for certain which party will control the Senate.
CPAs can help families navigate the financial side of substance abuse.
When it comes time to put on your year-end planning hat, will you be prepared to provide the best tax and financial planning advice to clients? Take this quiz to see if you’re ready to tackle year-end planning for 2020.
Taxpayers under financial duress caused by the pandemic can avoid penalties.
The IRS announced that the income ranges for employee participation in workplace 401(k) plans and IRA contributions will increase from 2020 to 2021. Most of the other retirement plan contribution limits stayed the same, however.
The AICPA’s Personal Financial Satisfaction Index (PFSi) rose 99% in the third quarter, setting a new record for quarterly growth. This finding underscores this year’s economic volatility, as last quarter the PFSi saw its largest-ever quarterly decline.
The IRS issued guidance adding state unclaimed property fund distributions to the list of reasons that taxpayers may self-certify that they missed the 60-day deadline to roll over funds to a qualified retirement plan.
Eligible individuals with disabilities received guidance from the IRS on the rules regarding ABLE accounts. Tax-favored ABLE accounts allow eligible individuals to save money to meet qualified disability expenses.
A qualified rollover contribution to a Roth IRA or an in-plan rollover to a designated Roth account, known as a Roth conversion, can be attractive for CPA advisers' clients because it provides a higher net present value of cash flow from their retirement savings, benefiting themselves or their beneficiaries.
Eleven young CPAs received Standing Ovation awards, which recognize professional achievement in personal financial planning (PFP), business valuation, and forensic accounting, and in information management and technology assurance (IMTA).
Ed Slott received the Sidney Kess Award for Excellence in Continuing Education, and Zach Thies received the P. Thomas Austin Personal Financial Planning Scholarship.
Being aware of national trends can help financial professionals assist their individual and business clients prepare for future health spending needs.
Munis remain as popular as ever, but states’ fiscal woes from COVID-19 and other trends could alter the investing landscape.
Mackey McNeill, CPA/PFS, founder of Mackey Advisors, based in Bellevue, Ky., developed a process for encouraging clients to discuss the nonfinancial aspects of retirement.
Discussing the nonfinancial side of retirement with clients gives them a better idea of what to expect and gives CPA financial planners insight into how much they might spend.