Financial planning

The Treasury Department and the Internal Revenue Service have issued proposed regulations that would eliminate a tax-planning strategy for minimizing estate and gift taxes.

U.S. Wealth Management CEO John Napolitano discusses in this video common mistakes made by personal financial planning clients, such as not properly identifying their assets.

Many taxpayers have multiple Individual Retirement Accounts and 401(k) accounts, and as the baby boom generation enters its retirement years, more clients than ever are going to need advice from a tax professional about how to handle the complicated rules for required minimum distributions from the accounts once they finally retire.

Tax practitioners and their baby boomer clients are beginning to cope with a monumental financial and tax event—the onset of required minimum distributions from traditional IRAs and qualified plans.

John Napolitano of U.S. Wealth Management discusses in this video how to distinguish your best personal financial planning clients from the others.

Dealing with your clients’ other advisors

A torrent of money has started to flow from the IRAs and qualified plans used by over 77 million U.S. baby boomers to save for retirement.

Accountants are really nice people who look for ways to help and better serve clients. Sometimes we present the appearance that we are doing something or are assuming a responsibility that we are not, and this should be avoided. Here are some illustrations:

Our weekly roundup of tax-related investment strategies and news your clients may be thinking about.

Summer is well underway, and now is a great time to help your clients and their dependents with the tax tips in this slideshow written by Michael Sonnenblick of Thomson Reuters Checkpoint.