Advisers can help clients with large collections of art or other valuable items manage financial and tax considerations. This article covers several estate planning considerations, including potential liquidity concerns and the value of drafting a letter of instruction.
The back-door Roth strategy allows higher-income clients to move funds to a Roth individual retirement account by contributing to a traditional IRA and then converting it into a Roth IRA. Here is a look at four restrictions to keep in mind, including the fact that clients who are 70½ years old or older cannot use this strategy. PFP/PFS Section members can use these robust planning decision charts from Bob Keebler, CPA/PFS, when advising clients on Roth conversions.
Costs associated with long-term care have been rising much faster than the general inflation rate. This article addresses several considerations for long-term care, including the pricing difficulties that insurance companies have faced and the emergence of hybrid policies.
Thinking about your ideal client and the future of your practice can help you develop a pricing model that works for your business. In this article, one planner explains how his pricing model went through several iterations as he gradually narrowed his focus to building a practice with a small number of high-value clients.
Successful CEOs believe a vision should be rooted in an organization's principles but accommodate changes in the company and its markets, write Stanislav Shekshnia, Kirill Kravchenko and Elin Williams. CEOs should take every opportunity to express this vision and use it as a benchmark for rewarding employees and making decisions.
Emerging blockchain technology might have significant changes in store for audit and assurance professionals. A report describes changes that might be coming and how CPAs can take advantage of opportunities the technology might provide.
A proposal by the AICPA Professional Ethics Executive Committee would revise independence rules that apply to AICPA members providing nonattest services related to an attest client's information systems.
Taxpayers who receive income from fiscal-year pass-through entities need guidance on when to claim the new Section 199A deduction for qualified business income. Here is a discussion of possible answers, based on the statute and legislative history.