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.
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.
As a new school year beckons, parents may be enrolling their young children in kindergarten and various other after-school programs. Can taxpayers claim the dependent care credit for any part of those expenses?
Along with the summer come some extra expenses, including (possibly) day camp for children. It may be a pleasant surprise for some parents that the costs of sending their children to these camps may qualify for the child and dependent care tax credit.
It is estimated that nearly 10 million adult children over the age of 50 care for their aging parents. These Baby Boomers should be finalizing plans for their own retirement, but they are putting their parents first.
If a client is planning to sell a business, the sale could result in a huge capital gain. But there’s a way to reduce the tax bill, provide for a comfortable retirement and help out a favorite charity – all in one shot.
Sixty percent of wealthy individuals say they never plan to retire. This group of "Neveretirees" is expected to grow over the next several years as more than 70 percent of respondents under the age of 45 say they will always be involved in some form of work.
At a time when 77 percent of families in the United States are in debt, with 46.1 percent of those families holding credit card debt, the Ohio Society of CPAs is reaching out to educate youngsters about the value of a dollar.
In a recent survey conducted by the Personal Finance Employee Education Foundation with the support of the Employee Benefits News, 91 percent of respondents cited employee financial literacy as being extremely important or important in reducing the vulnerability of the American economy to major economic crises.
The U.S. Department of Labor has announced two new rules designed to enhance retirement security and transparency for the millions of workers covered by 401(k), pension, and other retirement arrangements.
According to a recent study by USAA, 9% of Baby Boomers with AGIs of $100,000 or more are planning to do a Roth IRA conversion in 2010, and more than half (57%) are not aware that the income limits on conversions are eliminated in 2010.