Boston (June 27, 2003) -- After-tax return reporting is both a science and an art -- one that’s been made even more complex by the recent tax law changes, an after tax expert told attendees at the American Institute of CPAs’ Advanced Investment Management conference this week.
Two of the biggest challenges advisors face in providing after tax returns are knowledge of the reporting standards and finding meaningful measures of tax efficiency, J. Richard Joyner, partner at Ernst & Young in Dallas, told CPA planners at the meeting.
Joyner noted that after-tax reporting will become an even bigger issue, as more investors are likely to become subject to the alternative minimum tax.
“This is an opportunity for advisors to be value added in the taxable arena,” Joyner said. While after-tax rules are optional, after Jan. 1, 2005, AIMR [Association for Investment Management and Research] compliant firms that are going to report after-tax returns must adopt AIMR standards. The standards can be found online at
-- Melissa Klein
