Category: Financial Planning
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Content available through Bloggerlinkup.com – clarification
I recently signed up for a listing on Bloggerlinkup.com. The concept sounds good and the owner seems to have a solid reputation. I’ve often written many guest blogs in the past but finding the right opportunities takes more work than I am willing to put into it. As a result, my guest posts are “catch…
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Reflecting on my tortuous journey to become a CPA
Tonight I was reflecting on the long tortuous process of getting my CPA license and considered that perhaps it might be one of the most twisted paths to get into the profession. You might find the details amusing: For the first 19 years of self-employment my practice functioned in the area of compensation and benefits…
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A practical approach to bitcoin for regular people
Today I set up an account on Coinbase so that I can conduct transactions in bitcoin. If you don’t know what either of those terms means, there is probably no point in continuing to read further. But if you are aware of bitcoin and might have been wondering whether “regular people” should be involved, this…
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Turning Point for Success
“I found every single successful person I’ve ever spoken to had a turning point. The turning point was when they made a clear, specific unequivocal decision that they were going to achieve success. Some people make that decision at 15 and some people make it at 50, and most people never make it at all.”…
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Surviving spouses have a new tax saving tool
Summary of Rev.Proc. 2014-18 This revenue procedure provides a simplified method for certain taxpayers with spouse deceased in the last three years to obtain an extension of time under § 301.9100-3 of the Procedure and Administration Regulations to make a “portability” election under § 2010(c)(5)(A) of the Internal Revenue Code (Code), by which a decedent’s…
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Make your tax return filing a profitable project
A common question this time of year is “how much does it cost to have my tax return prepared?” But a good accountant specifically experienced in the tax planning allows the question to be turned around to say “How much will I save by having my tax return prepared?”. The bottom line: if tax prep…
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Quick course in PA inheritance tax
Pennsylvania imposes an inheritance tax on all estate transfers except those passed on to a surviving spouse, IRAs are exempt. The tax is 4.5% to children and higher for other beneficiaries. See http://www.revenue.state.pa.us/portal/server.pt/community/inheritance_tax/11414 for more information.
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Colleges may stop offering CFP
Wall Street Journal Wealth Adviser brief writes “CFP controversy hits educators. College-level educators expect to see fallout from the CFP Board’s recent troubles over how advisers have been using the “fee-only” label. For one thing, it’s likely to hurt enrollment in CFP exam courses, one professor tells Financial Planning. Some educators are wondering if they…
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Summary of Supreme Court Ruling Impact on Married Same Sex Couples
Yesterday’s Supreme Court ruling affects legally married same sex couples living in California, Connecticut, Delaware, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Rhode Island, Vermont, and Washington, the District of Columbia and five Native American tribes. The ruling affects the following common financial planning issues: 1) transfer of property to a spouse during…
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Competition in the financial advice industry
Ideas and core content from the Accenture report at http://www.accenture.com/Microsites/financial-services-innovation-center/Documents/pdf/Accenture-Changing-the-Client-Advisor-Relationship.pdf. Presumption: The wealth management landscape is becoming more crowded as players from adjacent industries enter the space. Accenture: “All financial institutions are trying to create a competitive offering within the context of ‘holistic financial services’ and ‘leading with advice’. They seek to leverage significant capabilities and extensive existing…