U.S. investors’ confidence in domestic capital markets has rebounded, but their faith in markets outside the United States has continued to decline, according to new research by the Center for Audit Quality (CAQ). Sixty-five percent of investors reported that they have some, quite a bit, or a great deal of
Advertisement
TOPICS
Personal financial planning
AICPA urges Congress to quickly fix tax cliff
Congress must reach an agreement on expiring tax provisions as soon as possible because small businesses are being impeded from long-term tax and cash flow planning and prevented from making informed decisions. That is the message Jeffrey Porter, vice chair of the AICPA Tax Executive Committee, delivered to the House
Many parents failing to educate children about money
Many children aren’t learning much about money from their parents, a new survey shows. Three in 10 parents never talk to their children about money or have had just one big talk with their children on the subject, according to a U.S. telephone survey conducted for the AICPA by Harris
Avoiding missteps in the LIFO conformity rule
During inflationary times, companies can reduce their taxable income by using the last-in, first-out (LIFO) cost flow assumption for inventories. However, the tax savings from using LIFO come at a cost. Under the LIFO conformity rule in Sec. 472(c), if LIFO is used on a taxpayer’s tax return, no other
Tax compliance for acquisitions: Prepare before purchasing
Fears of a “double-dip” recession in 2012 may have subsided, but the overall economic forecast remains uncertain. Therefore, companies are looking beyond organic, internal growth to external growth sources to bolster company performance. A recent study by The Boston Consulting Group (BCG) touted the power of acquisitions for growth during
Properly assessing the reverse mortgage option
The recent recession left no age group untouched, but baby boomers were hit especially hard. High unemployment and an uncertain stock market have caused older Americans to realize that their retirement funds might not support their desired lifestyle. Many seniors are facing foreclosure, while others are unable to meet their
Tax planning for 2013
CPAs have an unprecedented opportunity to demonstrate their value in the following ways before the end of 2012, when the Bush-era tax cuts are set to expire, estate and gift tax exemptions are scheduled to shrink back to $1 million, and current proposals could diminish the planning advantages of grantor
New portability rules: A cure for incomplete estate planning
Many CPAs are involved in representing estates of decedents who died in 2011 and 2012. In dealing with such estates, it is important to focus on the new Code provisions allowing portability of the decedent’s unused lifetime gift and estate exclusion amount to the surviving spouse. A failure to do
Make your community more financially literate
Ninety-four percent of Americans say they have financial concerns of some sort, according to a 2012 Harris Interactive Survey conducted on behalf of the AICPA. These concerns range from the rising cost of gas to lack of emergency savings to retirement planning. Since launching in 2004, the award-winning 360 Degrees
Financial matters are top cause of couples’ spats, survey shows
Couples argue more about financial matters than any other topic, according to a Harris Interactive survey conducted for the AICPA. Twenty-seven percent of respondents in a national survey who are married or living with a partner said disagreements over money are most likely to prompt an argument. None of the
Periodic payout reviews also advisable
What a great article and wonderful sage advice that appeared in the JofA (“When a client leaves or loses a job,” Feb. 2012, page 40). As a CFO and controller in industry, may I add that it would be wise for participants to periodically review their choices of payout to
The 10 most powerful postmortem planning pointers for trusts and estates
After a client passes away, there is much more to do than just prepare a final Form 1040, U.S. Individual Income Tax Return. Taking control of the postmortem planning process can be a powerful way to save tax dollars for the decedent’s estate and family. Postmortem planning also applies to
Tax-advantaged investing for an uncertain economy
Investors and their advisers have weathered several years of turmoil, with market conditions often upending conventional investing approaches and related tax strategies. As recently as summer 2010, Federal Reserve Board Chairman Ben Bernanke testified before Congress that the outlook for the U.S. economy remained “unusually uncertain.” Slightly more than a
Young Americans fail to frequently check bank balances, survey shows
Although technology has made it easier to track finances, many Americans aren’t taking advantage of the opportunity, according to a new survey. Seventeen percent of 18- to 34-year-olds check their bank accounts daily, according to a national telephone survey conducted for the AICPA by Harris Interactive in recognition of National
Technology extracts a big price from Americans, survey shows
Americans’ infatuation with technology such as cellphones, cable TV, and satellite radio isn’t helping them fatten their bank accounts, according to a survey conducted for the AICPA by Harris Interactive for National Financial Literacy Month. Fifty-six percent of U.S. adults said they believe that technology has made it easier to
Americans dedicated to long-term financial well-being, survey shows
Americans are devoted to preserving their long-term financial well-being and would rather give up eating at restaurants and using technology than stop saving for retirement, a new survey shows. Just 2% of the 1,005 U.S. adults participating in a telephone survey said the one action they most likely would take
Planning and paying for partner retirements
John was one of three founding partners in a firm formed 35 years ago. He oversaw the buyout of the other two founding partners and, as managing partner, groomed three young managers as his successors. However, when the time came for these managers to be admitted as partners, two of
A wealth of opportunity
Much has been written in recent years about wealth management services that call for practitioners, including CPAs, to have personal financial planning certification and to come under investment-adviser or other regulations. Much less attention has been paid to PFP services that don’t require specialization or additional licensing. One of these
Prop. regs., rulings facilitate “longevity annuities”
The IRS issued proposed rules (REG-115809-11) that would permit IRA participants to enter into contracts for annuities that begin at an advanced age (often called longevity annuities), using a certain amount of their account balances without having these amounts count for calculating required minimum distributions from the IRAs under Regs.
Daily money management
As Americans enter old age in rapidly increasing numbers, more accountants will run into situations like the one a Virginia CPA encountered last year. The CPA spent five hours rummaging through the home of a 94-year-old client, trying to find the paperwork needed to complete the man’s 2010 tax return.
Features
SPONSORED REPORT
How to find the right CAS clients
The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
March 6, 2026
