Personal Finance

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.
Technology

EBRI Rolls Out Free Retirement Savings App

While thousands of smartphone apps have been developed to help people spend money, a new one has been developed to help Americans save: The Ballpark E$timate® iPhone app.
Education & Careers

Money Is Low Priority in Parent-Child Talks

Even in today's dire economic environment, a study conducted by the AICPA found that money is among the lowest priorities in conversations between parents and their children.
Education & Careers

Moms Spend More on Kids' Wardrobes than Their Own

According to a survey of 1,000 moms, 60 percent say that clothing will be their biggest expense this year - with 91 percent admitting to spending more on their kids' wardrobes than their own.
Education & Careers

Will Rising Costs Make College Unattainable?

More and more Americans are losing confidence in their ability to send their children to college, and student loan debt is now at $1 trillion - a figure that's growing faster than any other kind of debt.
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.
Education & Careers

Student Loans + Credit Card Debt = Stress

Rising tuition costs and excessive borrowing have left many recent graduates struggling to afford basic living necessities, according to findings from Accounting Principals' latest Workonomix survey.
Tax

Avoid Penalty on ERP Withdrawals

This article from the Oklahoma Society of Certified Public Accountants is one you'll want to share with your clients to help them make wise decisions about early retirement plan withdrawals.
A&A

NFCC Poll Reveals Top Financial Regrets

The recent National Foundation for Credit Counseling online poll allowed consumers to select their greatest financial regret. Of more than 2,200 respondents, 53 percent indicated that habitually overspending was what they most regret.
AccountingWEB Life

Survey Finds Americans Out of Touch with How Much They Spend

A new survey conducted by Rasmussen Reports for the Consumer Federation of America ? the COUNTRY Financial Security Index - shows a gap between what Americans think they're spending and what's happening in reality.
Practice

AICPA Survey: 17 Percent of Young Adults Check Bank Accounts Daily

There's little doubt most young adults are obsessed with their digital devices and the latest technology that helps them use those devices. In fact, three times as many young adults check their social media accounts daily as check their bank accounts, according to the results of a national telephone survey conducted for the AICPA.
AccountingWEB Life

Texas CPAs Promote Financial Literacy through Social Media

Members of Texas Society of Certified Public Accountants used a variety of social media channels to spread a message of personal financial management and to promote Financial Literacy Social Media Outreach Day.
AccountingWEB Life

AICPA Survey Reveals Americans' Concerns about Finances and Saving

To commemorate National Financial Literacy Month, a national telephone poll of 1,005 adults was conducted by Harris Interactive on behalf of the American Institute of CPAs (AICPA). The purpose of the survey was to find out what one habit poll participants would most likely forego in a financial pinch.
Technology

AICPA Survey: Technology Has Made It Easier to Spend, Not Save

All those songs, games, apps, mobile connections, and movie downloads are taking a toll on Americans' wallets, with more than half of US adults saying technology has made it easier to spend money and only 3 percent saying it has made it easier to save, according to a survey conducted for the AICPA.
Tax

Tax Tip: A Party at Home? That's (Deductible) Entertainment!

This is the sixth article in our series of tax return tips for 2011 returns. The days of the three-martini lunch are long gone, but savvy taxpayers can still savor plenty of tax treats for entertaining their top customers. In fact, some clients may be entitled to write-offs for hosting get-togethers at their own homes.
Tax

Tax Tip: Dish Out Tax Rewards to Charitable Volunteers

Do you have clients who work hard for nonprofit organizations? Although taxpayers can't deduct the value of their "blood, sweat, and tears," they can still write off certain expenses that aren't reimbursed as charitable contributions.
Tax

Tax Tip: Generate Energy Credits for Clients

Are you clients "going green?" Besides doing their small part to save the planet, taxpayers can claim a residential energy credit for installing qualified energy-saving devices in the home. The main energy credit technically expired on January 1, 2012, but can still be claimed on a 2011 return.
Tax

Tax Tip: Lock in Mortgage Interest Deductions for Points

This is the second article in our series of tax return tips for 2011 returns. Although mortgage interest rates are at historic lows, it may be possible to obtain an even more favorable rate by agreeing to pay one or more "points" to the lender. What are the tax implications?
Tax

Tax Tip: How to Secure an 'Extra' Dependency Exemption

Why should clients use your tax return preparation services instead of finding a tax software program online? Even in this era of do-it-yourself technology, you can provide valuable insights that individual taxpayers simply can't get from standard software.
AccountingWEB Life

Feed the Pig - Feed the Future

A recent survey conducted by the American Institute of Certified Public Accountants (AICPA) and the Ad Council indicates that today's difficult economic times have dramatically altered the way people between the ages of twenty-five and thirty-four think about the importance of savings.

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