Financial planning services can be a separate service or an add-on to tax or other services. With the Tax Cuts and Jobs Act's (TCJA) simplification…
In Brief Trusts enable individuals to ensure the financial health of loved ones long after they are gone, but only if they are properly set…
Evaluating the Financial Planning Services Business Model
Is It the Right Time to Start a Planning Practice?
Financial planning is a generic term for all of the services that CPAs perform that deal with a client's individual wealth. It is also a…
In the past year (2018), have you noticed any trends in practice at your firm/organization? For example, changing workloads; challenges in recruitment, retention, training, promotion,…
I read with interest the November 2017 article issue, “Helping Business Owners Understand Valuation Approaches” (Sidney Kess and Edward Mendlowitz, http://bit.ly/2BmvfQv). I congratulate the authors on…
Individuals who own businesses frequently need to have the business valued. Sometimes it is for a specific purpose, such as for postsale retirement planning; other…
Many CPAs and most tax specialists perform personal financial planning (PFP) services; the AICPA estimates that more than 100,000 of its members perform some form…
Planning and Tax Considerations for Collectibles
Assisting Hobbyists, Dealers, and Investors
Many individuals have substantial investments in collectibles, such as art, stamps, coins, autographs, books, maps, baseball cards, glassware, antiques, gems, jewelry, or wine. The category…
This short book addresses the very important topic of how to save the planet, and it presents the ways in which progress on that goal…
Many individuals desire to make charitable bequests but are not certain how to do so or how they work. This is an area where a…
It is always better, from a billings perspective, to have wealthy clients rather than poor ones. Sometimes, however, more satisfying work can be done for…
CPA financial planners frequently are asked to review proposals from investment managers. While these assignments can be challenging, the following strategies can help guide individuals…
Death is unexpected for many people, but avoidable for none. Likewise, a sudden disability is never planned for. For business owners, being prepared for the…
Many CPAs are knowledgeable about financial planning, and they do an excellent job advising their clients. When planning for themselves, however, problems arise because many…
One of the functions of a CPA financial planner is to help individuals formulate an investment plan based on their long-term goals. One of the…
No one likes to think about death, especially of a loved one, but the failure to prepare for it can be self-defeating. Preparation creates emotional…
Many CPAs perform financial planning services, as do numerous other types of professionals. This article provides an overview of different kinds of financial advisors and…
SLT | New York State and City Prior Net Operating Loss Conversion
An Overview of a Complex Area in Recently Enacted Legislative Reform
New York State and New York City's corporate net operating loss carryover rules have always been an area of confusion, and they have been made…
Many individuals desire to make charitable bequests but are not certain how to do so or how they work. This is an area where a…
Instead of looking at Social Security as a government entitlement that one should start receiving as soon as eligible, one should consider it an investment…
Helping Individuals Determine Their Investment Goals
Drafting an Investment Policy Statement
Many individuals are vague or unrealistic about their goals and how to achieve them. CPAs can use their “database” of knowledge of their clients and…