Personal financial planning news and resources

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June 30, 2016

SEC seeks transition plan requirements for investment advisers

CPAs registered as investment advisers with the SEC would have to develop and implement written business continuity plans under a rule proposed by the commission.

June 27, 2016

Afraid to bring up elder planning with your aging clients?

When clients wait too long to plan, they can find themselves scrambling to pay unexpected bills.

June 1, 2016

‘Private Roth IRA corporation’ is held abusive

Transfers under a subcontracting agreement to a C corporation held by a taxpayer’s Roth IRA were excess contributions to the IRA.

June 1, 2016

Estate basis consistency and reporting: What practitioners need to know

The new law imposes a potentially elaborate reporting regime for values of estate property and ominous consequences for failures.

May 31, 2016

6 tips for paying off your student loan debts

Students can practice smart financial management habits that help ensure they’re able to pay off their loans.

May 18, 2016

Final regulations change allocation rules for Roth IRA rollovers

The regulations allow taxpayers to allocate pretax amounts to direct rollovers, rather than having to make pro rata allocations.

May 12, 2016

Half of American families with student loan debt delay saving for retirement

Channeling money into a retirement fund in your 20s and 30s can pay big dividends when it’s time to stop working. But a new AICPA poll finds student loan debt is increasingly weighing on adults in the United States.

April 28, 2016

That’s inflation: Kids’ allowances rise 16% in 2016

Kids do about six hours of chores a week to earn their allowances, which average $67.80 a month.

April 27, 2016

Americans’ financial picture holds steady this quarter

The AICPA’s Personal Financial Satisfaction Index held steady in the first quarter of this year, dropping only 0.3 points from last quarter and 2.1 points from the first quarter of 2015.

April 25, 2016

Key questions to ask the family business owner who plans to sell

As the many Baby Boomers who own family businesses contemplate retirement, CPA advisers will increasingly be called upon to help them craft exit strategies.

April 21, 2016

Half of Americans expect to lose money to identity theft

The overwhelming majority of people impacted by identity theft (93%) have taken steps to correct it or prevent it from happening again.

April 18, 2016

Make your practice senior-friendly

By making a few small changes to their offices and communication styles, CPAs can help elderly clients feel more comfortable, well-respected, and secure.

April 12, 2016

Next president should prioritize Social Security, Americans say

Keeping Social Security solvent should be one of the next U.S. president’s top economic priorities, nearly two-thirds of Americans said in a recent AICPA survey.

April 1, 2016

FBAR compliance

Heightened tax compliance efforts worldwide make this a good time to review the complicated rules that apply to reporting foreign accounts on FinCEN Form 114, Report of Foreign Bank and Financial Accounts, commonly known as FBAR.

April 1, 2016

Shambo receives Lifetime Achievement Award in PFP

James A. Shambo, CPA/PFS, president of Lifetime Planning Concepts Inc. in Colorado Springs, Colo., received the AICPA’s Stanley H. Breitbard Lifetime Achievement in Personal Financial Planning Award.

April 1, 2016

Young CPAs recognized with Standing Ovation in PFP

Twenty-two CPAs received the PFP Standing Ovation recognition for their contributions in the area of personal financial planning.

April 1, 2016

Kess honored for distinguished service in PFP

Sidney Kess, Esq., CPA, received the Institute’s 2015 Personal Financial Planning Distinguished Service Award.

April 1, 2016

Bruce Kajiwara, CPA/PFS

Bruce Kajiwara, CPA/PFS, owner of Kajiwara Wealth Advisors in Sacramento, Calif., says CPAs can provide a valuable service with financial literacy education for the public.

March 24, 2016

Millennials struggling to save money

A third of Millennials identified saving money as their top personal goal, an American Institute of CPAs survey found.

March 21, 2016

3 steps clients with kids in college need to take

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.