Financial Planning

The American Institute of CPAs has relaunched its 360 Degrees of Financial Literacy site with personalized interactive tools and information to help users better manage their finances.

The Senate Agriculture Committee has approved bipartisan legislation that would require derivatives to be traded on regulated exchanges and cleared through central clearinghouses, advancing the financial regulatory reform effort.

The proportion of adult Americans who say they have been able to save money within the past 12 months splits practically down the middle, according to a new survey by the American Institute of CPAs and Harris Interactive.

The Treasury Department has launched a new initiative to dramatically increase the number of electronic transactions, including quarterly tax payments, in order to reduce paperwork.

Many CPAs wade into personal financial planning because it's a natural progression of their role as a trusted advisor and a compelling expansion of their tax and accounting services - not to mention an additional revenue stream.

1. What are the biggest issues facing financial planners today?

The term "basic analysis" has evolved in recent years. Where once it referred to the ability to determine a client's financial position, net worth, goals and willingness to take risks with a portfolio, more recent definitions have focused more intensely on the process of asset allocation, re-allocation and portfolio balancing.

As CPAs and investment advisors partner to map out a strategy for clients, the delicate balance between tax effectiveness and control over assets should serve as a centerpiece. This will help to create a strategy that maximizes investments, minimizes tax exposure, and helps maintain clients' long-term financial objectives.

The majority of employers who made changes to their retirement plans during the economic downturn expect to keep those changes in place throughout 2010, according to a new survey.

Both the American Institute of CPAs and the American Bar Association Section of Taxation have urged Congress to correct the current state of federal estate, gift and generation-skipping transfer taxes.