Wealth management

Alibaba Group Holding Ltd., after announcing an average of two acquisitions a month this year, is learning the importance of doing your homework.

This year's tax planning is going to be heavily focused on accelerating deductions and maximizing tax credits, according to Evan Stephens, a tax manager at the business consulting and accounting firm Sensiba San Filippo.

Lyle Benson of L.K. Benson & Co., who chairs the AICPA's PFP section, discusses how CPA financial planners can make sure their clients' assets last throughout their retirement years, along with the tax planning aspects of retirement planning, in an interview with Accounting Today editor-in-chief Dan Hood.

Wolters Kluwer Financial Services has partnered with Broadridge Tax Services on combining their cost basis and tax reporting compliance systems.

Jobs gained during the economic recovery following the Great Recession pay an average of 23 percent less than the jobs lost during the recession, according to a new report from the U.S. Conference of Mayors.

Ted Sarenski, president and CEO of Blue Ocean Strategic Capital, discusses the findings of the AICPA Personal Financial Planning section's Elder Planning Task Force survey on major issues surrounding financial planning and retirement, including uncertainty about Social Security and the rising cost of health care, in an interview with Accounting Today editor-in-chief Daniel Hood .

Many U.S. households are not adequately prepared for retirement, according to a new report from the Federal Reserve that found 31 percent of non-retired respondents indicating they have no retirement savings or pension, including 19 percent of those ages 55 to 64.

The American Institute of CPAs, along with the Virgin Islands Society of CPAs and the Guam Society of CPAs have submitted a letter to Congress asking for clarification on whether the Net Investment Income Tax, which was included as part of the Affordable Care Act, applies to bona fide residents of the U.S. Virgin Islands, Guam, and the Commonwealth of the Northern Mariana Islands.

Fitch Ratings has weighed in on the controversy stemming from corporate inversions, noting it could have an impact on a company's cash access and credit.

The CFA Institute has released a new study that calls for enhanced loan disclosures in order to allow investors to compare the financial statements of banks more effectively.

Broker-dealer HD Vest has released VestVision, a software solution that lets advisors and clients establish and prioritize financial goals and then track progress toward them.

Check out the digital edition of the August 2014 issue of Accounting Today.

Wealth transfer and estate planning can be among the most difficult conversations to have with clients

Simple questions during tax prep can unlock a client's needs

The Treasury Department’s Financial Crimes Enforcement Network is hoping to lift the veil on the use of anonymous companies for financial transactions by forcing financial firms to disclose and verify the identities of the actual people, or “beneficial owners,” behind the transactions.

Republicans are considering voting this year to repeal the U.S. estate tax, said House Ways and Means Chairman Dave Camp.

Thirty-five percent of adults in the U.S. have a debt in collections reported in their credit files, a new study shows.

A pair of Democratic lawmakers have introduced a bill that would provide tax relief to student loan borrowers who have been granted debt relief after consistently repaying their student loan debt for at least 20 years, giving them an exemption from being taxed on the amount forgiven on the loans.

Withdrawals from individual retirement accounts tend to be driven largely by people who are 70-½ or more, according to new research.

The scheduled depletion date for Social Security’s Disability Insurance Trust Fund is only two years away, in late 2016, according to a new government report.