A Form 1040 review with clients can facilitate a discussion on strategies to address major tax law changes.
Personal Financial Planning
This column discusses advising clients on the implications for choice-of-entity decisions, charitable giving strategies, and estate, retirement, and higher education planning.
This article discusses the potential benefit of choosing to include scholarships or grants in income.
This article examines the requirements and limitations taxpayers face when seeking benefits of significant education-related income tax provisions.
CPAs are in a key position to assess tax implications of property divisions and must consider professional responsibility standards if the ex-spouses both want to remain clients.
Life insurance can be a surprisingly valuable hidden asset for clients who are retired.
A tax adviser can help a client smooth out the high-income-tax peaks and the corresponding lower-tax-bracket years with an effective bracket-management strategy.
These plans can allow a large amount to be contributed on behalf of the owner while maintaining flexibility in making contributions in future years.
Disciplined planning for realizing gains lessens the potential for unanticipated taxes or ugly year-end surprises.
Due to “extremely low” demand and high costs, the Treasury Department announced that it is ending the myRA retirement savings program.
A range of economic, political, personal, and other uncertainties can lead to clients having deep-seated fears about doing any one thing.
Most fiduciaries breach a fiduciary duty simply because they ignore or neglect to follow the stated legal requirements for uncompensated risk management.
A stock protection fund may be helpful to some investors.
Members of the public also recognize a CPA’s role as a trusted adviser for all their financial needs.
Tax-loss harvesting offers the potential for significantly increased after-tax returns.
Many clients making modifications to make homes more accessible may qualify for valuable home improvement medical expense deductions.
This item focuses on the pitfalls and potential opportunities to consider in the illiquid marital estate arena.
When a qualified retirement plan account holds employer stock, a retirement plan participant could save thousands of dollars with proper planning.
Careful and thoughtful advanced planning can result in substantial tax savings.
Deciding whether it makes sense to trigger the resulting tax liability depends on several factors.