Financial Planning

Practice

Teach Clients to Be Tax Smart Year-Round

Tired of hearing clients complain about this year's tax bill? Now is the time to step up and do something about it.
Technology

AICPA Calculator Adds Up Twenty Tax Burdens

The American Institute of CPAs has unveiled a new version of its Total Tax Insights calculator just before the start of income tax-filing season. The calculator, which can help taxpayers gauge the impact of twenty different taxes, reflects data applicable in 2013.
Practice

Beware of the Drama Triangle in Client Relationships

It's possible that at the times we find ourselves operating at our best, we are not actually helping clients solve problems, but instead helping them achieve their ideal outcomes. The best relationships we have with clients are characterized not by transactional problem-solving relationships, but rather by holistic relationship where we know what really matters to the client in business and in life.
Practice

When it Comes to Retirement: How Much Is Enough?

A recent study from the Employee Benefit Research Institute (EBRI) shows that people are not confident they will have enough saved for retirement. The March 2013 Retirement Confidence Survey revealed that 49 percent of those polled indicate they are "not very confident" or "not at all confident" they will have enough income in retirement.
A&A

Report Highlights Secrets Clients Hide from Their Advisors

Are clients being forthright with their financial advisors about factors that could affect their personal finances? While most are, 28.6 percent said they've withheld critical financial information from their advisors.
AccountingWEB Life

Why Everyone Needs an 'Incapacity Plan'

While many people carefully plan for retirement and what will become of their estate after death, too few provide for that middle ground – incapacity. Incapacity planning ensures you're able to speak for yourself in all decisions.
A&A

How CPAs Can Protect Baby Boomers' Nest Eggs from Derailers

Unexpected life or economic events are causing both short- and long-term damage to the retirement savings of baby boomers in America, according to a recent survey by Ameriprise Financial Inc. But there are strategies CPAs can implement to stop the bleeding.
A&A

AICPA Survey Finds Money Worries Taking Toll on Americans' Waistlines, Well-being

Feeling a little paunchy around the middle or particularly irritable when you pull into work in the morning? Don't blame it all on processed sugar or your two-hour commute. A recent AICPA survey found money worries are making many Americans impatient, unhealthy, and sleep deprived.
AccountingWEB Life

Lack of Savings Is Americans' Top Financial Concern

Consumers admit they're in dire need of professional financial advice, at least according to 78 percent of those who participated in the 2013 Financial Literacy Survey conducted by the NFCC and the Network Branded Prepaid Card Association.
Practice

What You Need to Know Before Recommending a Financial Advisor

Being able to offer sound financial planning advice for clients will require an accountant to gain certification, designation as a financial advisor, or to partner with someone who can be entrusted to serve clients well in this area.
Practice

Teaming with a Financial Advisor

Recommending a financial advisor to a client is one of the most important recommendations you can make. Customers will trust your recommendation; therefore, there is a potential your future with that customer could be impacted.
Practice

Retiring with Dignity

Can baby boomers retire with dignity, or is it no longer in the cards? Financial planners have what it takes to help their clients – and themselves – avoid working into their 80s and beyond.
Education & Careers

Wealth Management Firm Meets Needs of LGBT Clients

Christopher Street Financial, a New York-based wealth management firm, was founded in 1981 when Bob Casaletto, a gay man who worked at Merrill Lynch, realized that the financial needs of people in his community weren't being met.
Education & Careers

AICPA Publishes Consumer Book on Personal Finance

Available in January, "Save Wisely, Spend Happily" - a field guide to personal finance - combines the insight of 125 CPAs under the direction of best-selling author Sharon Lecther.
A&A

Employees Slow to Prepare for Retirement

Statistics from multiple studies paint a dire picture of the number of Americans who think they are prepared for retirement. A new survey found that only 26 percent had run a retirement projection, and only 18 percent felt they were on target.
Practice

CFP Board's Bulletproof Investment Strategy

CFP Board's consumer advocate Eleanor Blayney offers tips on how consumers can reclaim their long-term financial security by following a smart, pragmatic approach to investing.
A&A

Personal Financial Plans: Saving for the Future

The 2012 Household Financial Planning Survey shows that those who have prepared a personal financial plan feel more confident and report more success managing their money, savings, and investments than those who haven’t.
Education & Careers

First-Ever Financial Planning Handbook

The Certified Financial Planner Board of Standards, Inc. (CFP Board) announced July 10, 2012, that John Wiley & Sons, Inc. will publish a first-of-its-kind competency handbook for financial planning.
Practice

Four Reasons CPA Firms Should Consider Putting Wealthcare in the Mix

Leaders of market-dominating CPA firms report that the Golden Age for the CPA profession, the period of high growth from 2002 through 2007, will not be repeated. Additional revenue sources must be sought to achieve profitable growth.
AccountingWEB Life

Karen Goodfriend Receives AICPA's 2011 PFP Distinguished Service Award

On January 17, the AICPA recognized Karen Goodfriend's long history of service when it named her the recipient of its 2011 Personal Financial Planning Distinguished Service Award. The award is given annually to an AICPA volunteer who significantly contributes to the advancement of personal financial planning.

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