Wealth management

The Internal Revenue Service has extended a safe harbor for investors who claim theft loss deductions from fraudulent investment arrangements, such as Ponzi schemes, even when the leading figure behind the fraud has died.

With new cost-basis reporting requirements in effect for the 2011 tax year, Charles Schwab is warning investment advisors to brace for a hectic tax season and prepare for a flood of questions from clients who for the first time will receive a revised 1099-B form packed with new transaction information.

The Section 1022 election to opt out of the federal estate tax and into the modified carryover basis regime for the estates of people who died in 2010 is coming up in mid-January.

More consumers are reporting this holiday season that their finances have deteriorated over the past year.

A senior member of the tax-writing House Ways and Means Committee has introduced legislation to roll back the estate tax rates to pre-Bush tax cut levels.

As someone who breaks into hives the moment he buys something that contains a set of simple assembly instructions, you can imagine my response to getting the prospectus of a variable universal life insurance product.

Three shareholders at Greenwalt CPAs were named on Indianapolis Monthly’s 2011 survey of the Five Star Wealth Managers.

Bereaved spouses who have a relationship with a financial advisor can find the support invaluable in recovering their family’s financial bearings, according to a new survey.

The Tax & Accounting business of Thomson Reuters has inked a deal with Thompson Hine LLP to provide clients with custom retirement plans that meet IRS requirements.

Investors and financial executives are increasingly feeling overloaded by the volume and complexity of financial disclosure information in annual reports and other financial filings, according to a new study.

Corporate acquisitions using overpriced shares of stock rarely do much to cushion the decline the shares eventually suffer, according to a new study.

IMGCAP(1)]Accounting firms typically have multiple partners, some of whom may want to retire or move on in the near future, and others who want to stay longer.

A Georgetown University professor has proposed a different idea in the ongoing debate over how investment advisors should be effectively regulated: outsource the heavy lifting to accounting firms.

Shadow Financial Systems has added new cost-basis accounting features to its ShadowSuite securities-clearing software to address recent tax-reporting requirements.

Emerging Information Systems Inc. has introduced a new version of its NaviPlan Select financial planning software with improved estate planning features, a redesigned presentation module, and support for real estate investment trusts.

CPA wealth management firm Glass Jacobson merged in OneSource Financial Services of Montgomery Village, Md., on Tuesday.

Most accountants involved in tax preparation are already involved in financial planning, even though they might not realize it.

Ptolemy presented his model of the Earth-centered universe in the Second Century AD. It was another 1,200 years before Copernicus's theory of the Earth rotating around the Sun gained traction, with some refinements added along the way. Opposition came from opposing theological viewpoints, as well as the natural reluctance to adapt new ideas. That same reluctance to adapt to changing realities persists in our "high-tech" world.

LABOR DEPARTMENT DELAYS FIDUCIARY RULE CHANGE

Few things can be as painful as choosing a broker-dealer that you later regret. the key to making a switch worth your while is your diligence process and assessing whether you are hearing the truth or being sold a bill of goods regarding the matters that are important to your assessment criteria.