Whats New With the Personal Financial Specialist (PFS) Credential
Article:
The AICPA and PFS Credential Committee have been working hard to provide a clear pathway for CPAs to obtain the personal financial specialist (PFS) credential. We are excited that several of these initiatives...
Published on January 28, 2011
Help Your Clients Gamble to Win
Article:
With the Standard & Poor’s 500 Index (S&P) dropping over 11 percent in the second quarter of this year, many investors are still fearful of the stock market. Consequently households, businesses and hedge funds continue to hoard cash at record levels. In exchange for this flight to safety, investors must
Published on January 28, 2011
Add More Value Than Just Accounting, As Your Clients Trusted Advisor
Article:
Most, if not all, of your clients have or at some point will need a money manager. You are one of your client’s most trusted advisors and, from time to time, they may ask you for an introduction to a money manager. Therefore, it is important to know what questions
Published on January 28, 2011
AICPA News Update - February 3, 2012
Article:
In this issue: Celebrating 25 Years of the PFS Credential, Free Webinars and Resources, Chartered Global Management Accountant Launched January 31 at International Event
Published on March 09, 2012
Certified Public Accountants, the Preferred Financial Planner
Article:
The time has come to take stock of the options that Certified Public Accountants (CPAs) have for their clients’ financial planning needs. Whether it is incorporating a financial-planning practice in a firm, partnering with a CPA financial planner or referring business to a CPA financial planner, never has there been
Published on January 28, 2011
Reminder Support Your Auto Expense
Article:
...Editor: Michael D. Koppel, CPA, PFS Auto expenses are a very common deduction for business owners and employees who must travel. Often the taxpayer does not know the exact amounts necessary to calculate the proper...
Published on May 03, 2010
Guiding Clients Through the Transfer-for-Value Maze
Article:
...Editor: Michael David Schulman, CPA/PFS One of the most attractive aspects of life insurance as an estate and financial planning tool is the tax treatment of the death proceeds. Generally, the proceeds of a...
Published on May 12, 2010
The Funding Dilemma Retirement or College
Article:
...Editor: Michael David Schulman, CPA/PFS At a recent meeting, a client wanted to talk about paying for his child’s college costs for the upcoming spring semester. When asked if he had any retirement...
Published on July 13, 2010
Temp. Regs. Allow Deemed Election to Expense Startup, Organizational Costs
Article:
Effective July 8, 2008, the IRS issued new temporary regulations to amend the rules under Secs. 195, 248, and 709 regarding elections to deduct startup expenditures and organizational expenditures of corporations and partnerships (T.D. 9411).
Published on May 03, 2010
Charitable Contribution of Qualified Conservation Easement
Article:
The Tax Court held that a conservation easement of air space over an historic structure that was donated by a taxpayer to a nonprofit organization did not meet the requirements to be considered a qualified conservation easement.
Published on January 28, 2011
The Voluntary Classification Settlement Program
Article:
In hopes of increasing tax compliance, the IRS has announced a Voluntary Classification Settlement Program to allow eligible taxpayers to voluntarily reclassify their workers as employees for federal employment tax purposes.
Published on August 24, 2012
IRS Focuses on the FBAR
Article:
FBAR has graduated from a little-known filing requirement to a priority issue that should be at the top of every tax return preparer’s checklist.
Published on January 28, 2011
GRATs in 2010 Still a Viable Estate and Gift Tax Planning Option
Article:
This item describes the use of the grantor-retained annuity trust (GRAT) in estate and gift planning.
Published on December 01, 2010
Communicating with Clients in Difficult Times
Article:
The trusted, knowledgeable adviser must be proactive. Clients trust their CPAs and the advice, information, and education they provide.
Published on April 19, 2010
Converting Traditional IRAs to Roth IRAs in 2009
Article:
While much has been written about the new possibilities of converting traditional IRAs to Roth IRAs in 2010, advisers should not lose sight of the possible benefits of moving the timing up a year.
Published on January 28, 2011