The SECURE Act’s changes
Practitioners can advise on the most sweeping retirement reforms since 2006.
Personal Financial Planning
Ask the expert: Investing with an eye on taxes
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.
RIC shareholders can take Sec. 199A deduction for REIT dividends
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.
Medicare changes in response to COVID-19
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.
Amid uncertainty, financial planning clients stick with long-term plans
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.
Rollover relief for required minimum distributions
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.
Guidance on how to take CARES Act distributions from qualified plans
The IRS released guidance on how taxpayers can take coronavirus-related distributions from qualified retirement plans as authorized by the CARES Act.
Steps to take to prepare for a recession
Establishing an emergency fund is the tactic that CPA financial planners most recommend Americans take to help prepare for a downturn.
Preparing for future health needs
As trusted advisers in their clients’ lives, CPAs can play an important role in long-term health planning.
Why Roth conversions still make sense after the SECURE Act
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.
Look before you leap into a 529 plan
Circumspection is called for in funding students’ higher education.
Financial planning strategies for depressed asset values
Consider these financial planning strategies in a period of low interest rates and high volatility.
Forensic accountants team up to fight elder abuse
Forensic accountants play a key role in an innovative approach to combating elder financial exploitation in a program that is spreading nationally.
When planning for a natural disaster, don’t forget about your finances
Margaret Poster, CPA, shares advice for making sure your finances are in shape in the event of a disaster.
What to do with your stimulus check
Many Americans will receive stimulus money to help them weather the pandemic, but what they do with that money will depend on whether they need it right away or can afford to set some aside. CPA financial planners offer advice on how to make the best use of stimulus funds.
HSA contribution limits increase for 2021
The IRS issued its annual inflation-adjusted contribution limits for contributions to health savings accounts permitted to participants in high-deductible health plans. Most of the amounts increased slightly over the 2020 amounts.
Essential documents clients must update during COVID-19
Now, more than ever, it’s important to ensure clients’ wills, health care powers of attorney, and other estate planning documents are current.
Options for clients with student loans during the pandemic
Here’s a rundown of the relief the CARES Act offers for student loan borrowers, who is eligible for it and what clients can do if they’re not covered by the CARES Act or if they’ve become unemployed or had their hours reduced.
Financial satisfaction takes biggest dive since Great Recession
Economic woes brought on by the coronavirus pandemic triggered the steepest quarterly decline in Americans’ personal financial satisfaction since the recession that began in 2008.
Social Security recipients will automatically receive stimulus payments
The IRS announced that Social Security and Railroad Retirement benefit recipients will not have to file a tax return to receive the $1,200 stimulus payment provided by the Coronavirus Aid, Relief, and Economic Security Act.
