Personal financial planning news and resources

TOPICS

May 27, 2020

When planning for a natural disaster, don’t forget about your finances

Margaret Poster, CPA, shares advice for making sure your finances are in shape in the event of a disaster.

May 22, 2020

What to do with your stimulus check

Many Americans will receive stimulus money to help them weather the pandemic, but what they do with that money will depend on whether they need it right away or can afford to set some aside. CPA financial planners offer advice on how to make the best use of stimulus funds.

May 20, 2020

HSA contribution limits increase for 2021

The IRS issued its annual inflation-adjusted contribution limits for contributions to health savings accounts permitted to participants in high-deductible health plans. Most of the amounts increased slightly over the 2020 amounts.

May 19, 2020

Essential documents clients must update during COVID-19

Now, more than ever, it’s important to ensure clients’ wills, health care powers of attorney, and other estate planning documents are current.

May 12, 2020

Options for clients with student loans during the pandemic

Here’s a rundown of the relief the CARES Act offers for student loan borrowers, who is eligible for it and what clients can do if they’re not covered by the CARES Act or if they’ve become unemployed or had their hours reduced.

April 23, 2020

Financial satisfaction takes biggest dive since Great Recession

Economic woes brought on by the coronavirus pandemic triggered the steepest quarterly decline in Americans’ personal financial satisfaction since the recession that began in 2008.

April 2, 2020

Social Security recipients will automatically receive stimulus payments

The IRS announced that Social Security and Railroad Retirement benefit recipients will not have to file a tax return to receive the $1,200 stimulus payment provided by the Coronavirus Aid, Relief, and Economic Security Act.

March 16, 2020

Talk to tax clients about what’s really on their minds

A CPA discusses how best to present additional services to tax clients without coming off as pushy or aggressive.

March 10, 2020

Calming clients’ fears during the coronavirus outbreak

How can CPAs deal with client anxieties during a time of uncertainty? The best steps include preparing them for unexpected events before they happen and acknowledging their concerns.

March 4, 2020

Emotional impact of elder abuse outweighs the financial toll

Fraud and financial abuse harm clients psychologically more than they do financially, according to the AICPA Personal Financial Planning Trends Survey.

March 1, 2020

How to identify and report health care fraud

Health care fraud is an important and complicated challenge for clients. CPAs can be instrumental in helping clients detect, report, and prevent health care fraud.

March 1, 2020

Financial planning: Remember to plan for risk

CPA financial planners must carefully document for clients all risks associated with recommended investments.

February 18, 2020

CPAs need to watch these health care pricing rules

New rules are designed to make health care pricing more transparent, and CPA financial planners could use that information to help clients make more informed decisions.

January 23, 2020

Americans’ financial satisfaction at all-time high

Americans’ financial satisfaction hit an all-time high in the fourth quarter of 2019. Stock market gains coupled with declines in underemployment and loan delinquencies helped lift the index to new heights.

January 21, 2020

The financial and human cost of loneliness in retirement

Isolation and loneliness can have serious emotional, social, and financial consequences, and can contribute to declines in clients’ physical and mental health and quality of life.

January 1, 2020

How to guard client finances against dementia

Cognitive impairment adds a difficult layer of complexity to a client’s financial plans. Here are steps CPAs can take to protect clients with dementia against fraud.

January 1, 2020

Proceeding into retirement

CPAs describe how they made a successful transition at the end of their careers.

December 20, 2019

Qualified opportunity zone regs. finalized

The IRS issued final regulations providing guidance on tax-favored investments in qualified opportunity zones (QOZs).

December 9, 2019

Government report finds deficiencies in most US hospices

Advise clients to do their research before choosing hospice care.

December 1, 2019

Helping clients after they are divorced

CPAs should review several key financial planning steps with newly single clients.

FROM THIS MONTH'S ISSUE

AI risks CPAs should know

Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.