In Brief As the number of senior citizens in the United States continues to rise, CPAs and financial planners will be increasingly called upon to…
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law by President Trump on December 20, 2019, as part of funding legislation…
In Brief Deciding whether a traditional individual retirement account (IRA) or a Roth IRA is the better investment vehicle can be a more complex choice…
ICYMI | Medicaid Qualifying Strategies When There Is No Time to Plan
How a Financial Planner Can Intervene in a Crisis
In Brief As people age, disability can strike with little to no warning, leaving scant time for individuals and families to craft a financial plan.…
Financial Planning Challenges Facing Older Americans
How CPAs Can Help
In Brief As the number of senior citizens in the United States continues to rise, CPAs and financial planners will be increasingly called upon to…
The Tax Cuts and Jobs Act of 2017 (TCJA) contains both positive and negative news for Roth IRAs. Some of the implications are obvious, but…
Retirement plan sponsors have become the subject of unprecedented scrutiny from plaintiffs' lawyers and Department of Labor (DOL) regulators. Litigators review filed Forms 5500 and…
Retirement planning may be critical at older ages, but it is just as important at younger ages as well. CPAs have the opportunity to review…
I read the May 2018 CPA Journal article, “Untangling the Inherited IRA Rules” by Richard L. Russell Jr., Richard L. Russell, and Kristina Kesselring (http://bit.ly/2NeUw1F). One…
Getting Older Without Family
Addressing Personal, Legal, and Financial Concerns
The American Association of Retired Persons (AARP) projects that by 2030, approximately 16% of women will be between 80 and 84 years old and childless…
Untangling the Inherited IRA Rules
Retiring Baby Boomers and the Impending Transfer of Wealth
As the baby boomers enter their sunset years, many of them will use traditional Individual Retirement Accounts (IRA) to support themselves in retirement. For a…
Medicaid Qualifying Strategies When There Is No Time to Plan
How a Financial Planner Can Intervene in a Crisis
In Brief As people age, disability can strike with little to no warning, leaving scant time for individuals and families to craft a financial plan.…
Retirement Plans for Employees of LLCs Owned by Tax-Exempt Entities
Implications of the IRS’s Chief Counsel Advice
Taxpayers conduct their operations via a variety of entities, including limited liability companies (LLCs). Even tax-exempt organizations are using the limited liability form to provide…
The Employee Retirement Income Security Act (ERISA) provides general standards of conduct for plan fiduciaries. A breach of fiduciary duty can result in personal liability…
Individual retirement accounts are a popular and effective method of saving for retirement. For some individuals, however, there is a catch: starting at age 70½,…
Our Greatest Hits | Avoiding costly mistakes on guaranteed payments to partners
From The CPA Journal Archives
"Our Greatest Hits" is an effort to show our readers the most popular - and still avidly read - articles from our archives. This article…
As the unemployment rate continues to drop and some visa programs are put on hold, an increasing number of younger people may find it easier…
In Brief With the Baby Boom generation facing retirement, America may soon witness the largest wealth transfer from one generation to another in its history.…
Plan fiduciaries must take specific steps in the selection and retention of service providers to properly carry out their fiduciary duties. Retirement plan committees and…
Often, some of the most valuable estate planning results are achieved not by using the big-picture items like bypass trusts, discounts, or note sales, but…
Excessive fee litigation and class action settlements increased significantly in 2014 and 2015. These decisions and negotiations will encourage more claims against retirement plan committees…
Turning Tax Refunds into Retirement Savings
The Treasury’s New my RA
CPAs know that tax refunds are the largest sums of money that some people will receive all year, so tax season is a great time…