Financial Planning

A roundup of financial planning news from the previous month.

The building blocks of a successful FP practice

The Governmental Accounting Standards Board has released an implementation guide for the new GASB standards for accounting and financial reporting for pensions.

Congress voted in December 2010 to let wealthy Americans make tax-free gifts of as much as $5 million—and the money flowed.

President Obama introduced a new retirement savings vehicle that he called a “MyRA” in his State of the Union address on Tuesday evening, and the White House has followed up with more details on Wednesday about it.

While President Obama mentioned taxes a number of times in his State of the Union speech last night, the details were scant.

The Securities and Exchange Commission and the Justice Department have brought civil and criminal charges against a Chicago accountant who used his wife’s trading account to short-sell shares in the health care information company where he was director of internal audit ahead of the public release of the company’s financial results, earning more than a quarter-million dollars in profits.

President Barack Obama proposed a series of actions to deal with economic issues ranging from the minimum wage to tax reform and student loan debt during his State of the Union address on Tuesday evening.

The Internal Revenue Service has issued new rules providing an automatic extension of time for certain estates without a filing requirement to elect portability of the decedent’s unused exclusion amount for the benefit of the decedent’s surviving spouse.

The Internal Revenue Service has posted a final version of the form for computing the 3.8 percent Net Investment Income Tax that was mandated as part of the Affordable Care Act.