Retirement

Helping clients make minimum distributions go further

As 2015 comes to a close, taxpayers are once again facing uncertainty as Congress has yet to act on a host of important provisions that expired at the end of 2014.

The budget deal passed by Congress last month included a provision that would end some Social Security claiming strategies used by couples.

The American Institute of CPAs and the National Association of State Boards of Accountancy have proposed to create a “Retired-CPA” status to deal with the wave of Baby Boom retirees in the profession.

MyRA, the Obama administration's free, guaranteed-return starter retirement account, launched nationwide today.

The Social Security Administration confirmed Thursday there will not be a cost of living increase for 2016 due to declines in consumer prices.

Blucora’s $580 million acquisition of HD Vest Financial Services promises to open up new opportunities for tax professionals who work with the brokerage.

Financial planning columnist John Napolitano talks about how advisors can help their clients after they've retired.

Guiding your clients into and through retirement

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

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

Between legislative changes and proposed rules and guidance issued by government agencies at the federal, state, and local levels, business owners have a lot of red tape to navigate and understand.

The Internal Revenue Service's decision not to update mortality assumptions to reflect today's higher life expectancy could help corporate pension plan sponsors save at least $18 billion in 2016 as they continue to calculate minimum funding contributions according to outdated models, according to a new report from Moody's Investors Service.

Nearly one-third of U.S. adults believe there is a greater than 50 percent chance they will outlive their savings, according to a new survey.

If the beneficiary of a deceased owner of an individual retirement account fails to comply with the post-death required minimum distribution rules and the other post-death IRA distribution rules, then the beneficiary can be subject to penalties from the Internal Revenue Service.

Lyle Benson of L.K. Benson & Co., who chairs the AICPA's PFP Section, discusses the tools that CPA financial planners can use to help clients map out their financial futures, in an interview with Accounting Today editor-in-chief Dan Hood.

In June, the Supreme Court held in Obergefell v. Hodges that “same-sex couples may exercise the fundamental right to marry in all States. It follows . . . that there is no lawful basis for a State to refuse to recognize a lawful same-sex marriage performed in another State on the ground of its same-sex character.”

Lyle Benson of L.K. Benson & Co., chair of the AICPA's PFP Section, discusses some of the key issues that aging clients are facing, such as retirement planning and dealing with dementia, cognitive impairment and divorce, in an interview with Accounting Today editor-in-chief Dan Hood.

The Internal Revenue Service plans to make changes in its determination letter program for retirement plans in an effort to save money.

A new government report urges the Internal Revenue Service to do a better job of educating and notifying taxpayers about provisions of the tax code requiring them to begin taking minimum distributions from their Individual Retirement Arrangements when they reach a certain age, but the IRS responded that it lacks enough money in its budget to do so.