Being aware of national trends can help financial professionals assist their individual and business clients prepare for future health spending needs.
Personal Financial Planning
Munis remain as popular as ever, but states’ fiscal woes from COVID-19 and other trends could alter the investing landscape.
Mackey McNeill, CPA/PFS, founder of Mackey Advisors, based in Bellevue, Ky., developed a process for encouraging clients to discuss the nonfinancial aspects of retirement.
Discussing the nonfinancial side of retirement with clients gives them a better idea of what to expect and gives CPA financial planners insight into how much they might spend.
The AICPA’s Personal Financial Satisfaction Index saw a record drop of 55% over last quarter. A 244% rise in underemployment was the factor most responsible for the decline, followed by drops in the CPA Outlook Index and job openings.
Financial planners who use hourly billing, subscription fees and other alternatives to the AUM billing model shared their experiences at the ENGAGE conference.
Two experienced CPA financial planners offer tips for reaching out to clients and helping to calm their fears.
Practitioners can advise on the most sweeping retirement reforms since 2006.
Duncan Gates is Avantax’s Strategist–TSI Advisor Experience. In this role, he is responsible for providing education on tax-related topics and concepts, advisor training, and distribution of the Tax-Smart Investing platform.
The IRS issued final regulations allowing regulated investment companies (RICs) to report qualified real estate investment trust (REIT) dividends as Sec. 199A dividends to their shareholders.
Recent changes to Medicare due to the pandemic include COVID-19 testing coverage, telemedicine coverage and a requirement that Part D plans provide a 90-day supply of covered drugs upon request. Medicare will also cover a vaccine if one is developed.
On average, only 30% of CPA financial planners’ clients have made changes to their financial plans due to the pandemic, according to the latest AICPA Personal Financial Planning Trends survey.
The IRS provides relief for taxpayers who had already taken required minimum distributions (RMDs) in 2020 before the CARES Act suspended the RMD requirement for 2020 in response to the coronavirus pandemic and its effect on taxpayers and the stock market.
The IRS released guidance on how taxpayers can take coronavirus-related distributions from qualified retirement plans as authorized by the CARES Act.
Establishing an emergency fund is the tactic that CPA financial planners most recommend Americans take to help prepare for a downturn.
As trusted advisers in their clients’ lives, CPAs can play an important role in long-term health planning.
Changes brought on by the SECURE act have added new wrinkles to the planning process that must be considered by IRA owners and CPA financial planners.
Circumspection is called for in funding students’ higher education.
Consider these financial planning strategies in a period of low interest rates and high volatility.
Forensic accountants play a key role in an innovative approach to combating elder financial exploitation in a program that is spreading nationally.