Michael Goodman, CPA/PFS, founder of Wealthstream Advisors Inc., received the 2014 Personal Financial Planning Distinguished Service Award.
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TOPICS
Personal financial planning
How do Americans define personal financial prosperity?
Although homeownership often is depicted as the American Dream, a new AICPA survey shows that being able to afford a comfortable retirement is considered the best sign of financial success.
Americans fear running out of money in retirement
More than half of CPA financial planners say their clients’ biggest concern about retirement planning is running out of money, according to a new AICPA survey.
Other people’s money
Seemingly disparate services such as investment advisory, bill-paying, and estate planning all have a common denominator: the CPA’s involvement with other people’s money.
Financial planning
A decrease in loan delinquencies, coupled with an increase in job openings, has boosted Americans’ satisfaction with their finances, a new AICPA economic index revealed.
IRS fills in details of one-a-year IRA rollover rule
Under transition relief, the Bobrow aggregation rule disregards certain distributions occurring in 2014.
Details of the president’s State of the Union tax proposals
The president aims to increase capital gains taxes for higher-income taxpayers in order to pay for various education, child care, and retirement benefits for middle-income taxpayers.
Americans’ finances rebounding in the economic recovery, AICPA PFS Index finds
The AICPA released a new economic barometer, the PFSi (Personal Financial Satisfaction Index), which weighs a variety of economic factors to calculate the financial standing of a typical American.
Defined contribution plans can offer deferred annuities to older participants
The IRS confirms that target date funds restricted by age can comply with nondiscrimination requirements.
Financial planning
Data security and regulatory oversight are the top factors contributing to rising investor confidence in U.S. stock exchanges, according to a Center for Audit Quality (CAQ) pulse poll. Seventy percent of investors responding to the CAQ’s 2014 Main Street Investor Survey said they have a great deal, quite a bit,
Tax-efficient investing in gold
Whether as bullion, coins, funds, stocks, or derivatives, gold holds an age-old fascination. Smart investing takes into account how gains are taxed.
QLACs protect against outliving retirement savings
With longer retirements due to increasing life expectancies, today’s retirees have to worry about outliving their retirement savings.
Charitable trusts and the streamlined exempt-status application
It is not unusual for a tax adviser to suggest that a client involved in estate tax planning leave some assets to a charity.
Survey: Financial planning services help firms retain clients, increase revenue
Adding personal financial planning (PFP) services can help a CPA firm attract and retain clients and increase its revenue, the AICPA’s recent Economic Benefit of PFP Services survey found.
Financial planning
Investors’ confidence in investing in U.S. public companies—and in audited financial information released by those companies—has risen to a seven-year high in 2014.
Changes proposed to allocation rules for rollovers
Disbursements containing both pretax and after-tax contributions may be treated as a single distribution.
IRS fills in details of one-a-year IRA rollover rule
The IRS clarified how the recently announced change in how it interprets the statutory one-rollover-per-year rule for individual retirement arrangements (IRAs) will affect 2014 rollovers and how the rules will apply starting in 2015 (Announcement 2014-32). Sec. 408(d)(3)(A)(i) permits a tax-free rollover of funds in a taxpayer’s IRA as long
Data security, regulation spark investor confidence in US stock exchanges
Data security and regulatory oversight are the top factors contributing to rising investor confidence in U.S. stock exchanges, according to a Center for Audit Quality (CAQ) pulse poll released Tuesday. Seventy percent of investors responding to the CAQ’s 2014 Main Street Investor Survey, which was released Oct. 9, said they
Boilerplate trust clauses
Many clients sign estate planning documents without paying much attention to the clauses they contain. One clause that few clients pay attention to is the one governing how that client’s incapacity could be determined—and therefore how the client could be removed from serving as a fiduciary or trustee. A high-profile
2015 inflation-adjusted items and tax tables issued
The IRS issued the annual inflation adjustments for 2015 for more than 40 tax provisions as well as the 2015 tax rate tables for individuals and estates and trusts (Rev. Proc. 2014-61). Among the inflation-adjusted amounts that have increased are the personal exemption, which increases from $3,950 in 2014 to
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From The Tax Adviser
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Current developments in taxation of individuals: Part 1
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Current Developments in Taxation of Individuals: Part 1
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