Financial planners and tax advisers are sure to receive an increasing number of questions related to elder housing decisions and the financial implications of various choices.
Personal Financial Planning
A transfer of ownership of a closely held business in divorce does not trigger gain or loss if it is directly between the spouses.
Familiarity with life insurance will elevate a practitioner’s service from being compliance-oriented to being consultative.
During the divorce proceedings, it is critical for each taxpayer to work with a tax adviser to understand the estate, gift, and income tax consequences of the marriage dissolution.
Foreign high-net-worth individuals immigrating to the United States should seek advice to minimize exposure to the U.S. income, gift, and estate tax system.
The opportunity to get more assets into Roth vehicles via various means has evolved over the last several years.
Baby Boomers born from 1954 to 1964, and all subsequent generations, will be unable to use some planning strategies that have benefited older generations.
Follow these tips for using the final tax return for tax planning post-mortem.
Lisa C. Germano received the highest award given by the accounting profession in the area of taxation.
The new retirement savings account is intended for people with taxable compensation income but who lack access to an employer-sponsored retirement plan.
CPA financial planners can help their clients predict how they may fare financially.
Without a tax practitioner’s ongoing planning and involvement, the benefits of tax-aware management are less likely to be achieved.
Treasury said eligible individuals nationwide may now open a new retirement account for people with earned income who may lack access to an employer-sponsored retirement plan.
Identifying qualified dividends and helping taxpayers meet the requirements for qualified dividend status are valuable client services.
An Overview of Tax Practice Issues That Arise Under Statement on Standards in Personal Financial Planning Services
This column discusses some of the issues that might arise for tax practitioners in light of Statement on Standards in Personal Financial Planning Services.
In a recent tax court decision, an individual was as determined for tax purposes to be the owner of assets in segregated asset accounts held for the benefit of private placement variable life insurance policies.
Without a tax professional’s being actively involved in planning, the benefits of tax-aware management are unlikely to be achieved.
CPAs are in a unique position to have a profoundly positive influence on the financial consequences of Baby Boomer divorces.
The regulations would authorize states to offer specially designed tax-favored accounts for the disabled.
This item addresses basic asset protection issues and describes Ohio’s new asset-protection trust statute.