The U.S. Department of Labor’s recent effort to impose new requirements on financial professionals providing retirement investment advice faces doubtful prospects because of court challenges and the change in presidential administration.
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TOPICS
Personal financial planning
IRS issues proposed regs. on catch-up contributions
The proposed regulations apply to catch-up contributions under a 401(k) or similar workplace retirement plan that generally are allowed for workers who have attained age 50.
Growth in client advisory services set to continue rapid increase
Firms in CPA.com’s CAS Benchmark Survey report a significant increase in median revenue and project an increase of nearly 100% over the next three years.
3 ways to balance saving for education and retirement
Worried parents can obtain peace of mind with a
realistic strategy.
Using behavioral science in a financial planning practice
By understanding psychological influences on decision-making, CPAs can work with clients more effectively and improve how they operate their practice.
Answering common questions about HSAs and Medicare enrollment
Clients often get confused about how enrollment in Medicare affects their eligibility to contribute to a health savings account and what to do if they erroneously made HSA contributions after their eligibility ceased.
Financial planners and caregiving: Helping clients manage the challenges
Planning for caregiving involves immediate and future financial implications along with tax considerations and documentation. Preparing for eventual life needs provides clients and their caregivers emotional support along with clear direction about the financial possibilities.
Driving better savings discipline and loving the work you do
An author and speaker on the topic of retirement plans – saving for them, designing them, auditing them – has a message that goes beyond the theme of saving. Listen to the podcast episode or read the Q&A.
Inflation adjustments to retirement account limits issued for 2024
The IRS announced inflation-adjusted limits on benefits and contributions for various retirement accounts on Friday, including maximum contribution amounts for 401(k) plans and traditional and Roth IRAs.
Using behavioral science in a financial-planning practice
By understanding psychological influences on decision-making, CPA financial planners can work with clients more effectively and improve how they operate their practice.
Clarification proposed for CPAs’ financial statement preparation engagements
An AICPA committee approved a proposed revision to Statement on Standards for Accounting and Review Services (SSARS) No. 21 addressing the applicability of the standard when preparing financial statements as a part of consulting services.
FinCEN final rule lessens impact on small registered investment advisers
Treasury’s Financial Crimes Enforcement Network estimates the rule will require about 200 previously unaffected small RIAs to participate in FinCEN’s anti-money-laundering and terrorism programs. The number of affected RIAs is lower than the proposed rule’s estimate.
Retirement: How to respond to the changing definition of the word
A shift away from the traditional view of what it means to retire in America means that innovative approaches can lead to better outcomes for everyone.
Helping pre-retirees choose a retirement spending limit
Retiring clients need a realistic and accurate target that ensures they neither outlive their savings nor unnecessarily restrict their “fun money” spending. Here are some steps to follow.
Municipal bonds: Planning for the TCJA sunset
Clients who invest in municipal bonds may require new strategies because of tax changes that lie ahead in 2026.
Key planning considerations for childfree clients
Helping the growing demographic of childfree individuals and couples plan their financial futures requires a shift in perspective.
Prepare large estates for TCJA sunset now
Now is the time to talk with high-net-worth clients about using the temporarily doubled estate and gift tax exclusion before its sunset in 2026, Bob Keebler, CPA/PFS, stressed in a webcast.
Forgoing marriage? Estate planning for unmarried couples
Unmarried, cohabiting couples experience the same joys and challenges as married couples but without marriage’s legal entanglement. The lack of legal standing, however, means estate planning requires more thought and action.
DOL finalizes broad ‘retirement security rule’
CPA financial planners need to be aware of the U.S. Department of Labor’s new rule, which is intended to protect retirement investors from receiving investment advice tainted by conflicts of interest.
AICPA letter to FinCEN supports small registered investment advisers
Proposed regulations could challenge small RIAs in particular to maintain compliance, according to an AICPA comment letter. The letter recommends that FinCEN reconsider how it determines who must report.
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