With thoughtful planning, the shift into retirement can be relatively smooth and even exciting.
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TOPICS
Personal financial planning
When clients should open or convert to a Roth IRA
These versatile accounts belong in every adviser’s retirement strategy toolkit.
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.
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.
‘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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Kess honored for distinguished service in PFP
Sidney Kess, Esq., CPA, received the Institute’s 2015 Personal Financial Planning Distinguished Service Award.
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.
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