Financial Planning

Rothstein Kass has released its updated financial statement manual for alternative investment funds such as hedge funds and hybrid funds.

The Internal Revenue Service is allowing 401(k) and similar employer-sponsored retirement plans to make loans and hardship distributions to victims of Hurricane Sandy and members of their families, as part of the Obama administration’s efforts to bring all available resources to bear to support state and local partners affected by Hurricane Sandy.

U.S. investors expect the country will eventually support International Financial Reporting Standards, but the process will take time and require substantial investment in staff and training, according to new research from the Association of Chartered Certified Accountants.

While tax experts are divided on the immediate future of tax rates as we approach the fiscal cliff (the combination of scheduled tax rate increases and spending cuts by the government), the consensus is that rates will indeed rise precipitously.

The race is on for wealthy Americans to save on taxes before Jan. 1.

With the election out of the way and efforts taking shape in Washington to resolve the threat of automatic tax increases and the fiscal cliff, CPAs and certified financial planners are recommending ways to protect their clients no matter what Congress and the Obama administration ultimately decide to do about the tax laws for next year.

It may be some time before Congress and the Obama administration decide what to do about the tax rates for next year, so it’s a good idea to plan for various alternative scenarios just in case.

In the aftermath of the elections, the payroll tax cut appears to be one of the likely casualties of the scramble to resolve questions over expiring tax cuts and the looming fiscal cliff during the lame-duck session of Congress.

The board of directors of the CFP Board of Standards announced the immediate resignations of its chairman Alan Goldfarb and two members of the Disciplinary and Ethics Commission.

Why tax season is the right time to upsell your clients to financial planning services