Wealth management

In 2014 many of the country’s high-income earners will keep less than they pay in taxes.

A federal appeals court has upheld a penalty assessed against the estate of a deceased man because the executor filed the return late, even though estimated taxes had been paid.

One time I had three clients who were on the board of directors of the same NYSE-listed company. Two of them questioned every bill and every hour spent, and their fees were fairly low for people of that caliber. The third person did not seem to care what he paid, and his fees were quite high.

The Treasury Department and the Internal Revenue Service have issued final rules on longevity annuities, which can help retirees manage their savings to ensure they have a stream of regular income as they get older, making longevity annuities accessible to the 401(k) and IRA markets.

Quarterbacking your clients' advisory team

From SEP and SIMPLE IRAs to Solo 401(k)s

The Public Company Accounting Oversight Board has released staff guidance to help auditors of brokers and dealers registered with the Securities and Exchange Commission to plan and perform audits in accordance with PCAOB standards as mandated by the Dodd-Frank Act and SEC rules.

A new study finds that disclosure of personal relationships between corporate CEOs and members of the board of directors could paradoxically encourage directors to exhibit less independence from management.

The Supreme Court held Monday that securities fraud plaintiffs need not prove loss causation in order to obtain class certification.

The Financial Accounting Standards Board has issued a new accounting standards update for stock compensation.

Bill and Hillary Clinton have long supported an estate tax to prevent the U.S. from being dominated by inherited wealth. That doesn’t mean they want to pay it.

U.S. Wealth Management president and CEO John Napolitano discusses how accounting firms should be choosier about the clients they accept, in an interview with Accounting Today editor-in-chief Daniel Hood.

A unanimous Supreme Court has held that the funds in an inherited IRA do not qualify for exemption in bankruptcy because they do not share the same characteristics as “retirement funds” that traditional IRAs have.

Genworth Financial has created a new Web site with information on long term care.

The Internal Revenue Service issued a ruling yesterday clearing the way for institutional investors to seek changes to incentive fees assessed by hedge funds, which may make it cheaper for them to invest in such offerings.

One of the key hurdles that advisors encounter in considering the transition to offering integrated wealth management services is the fundamental gap between the marketing model employed by traditional financial advisors and the practices that tax advisors are familiar with from the accounting world.

Tax rules continuously change, but the specific tax matter here is not what’s important. What is important is the process.

Broker-dealer HD Vest Investment Services announced that its VestAdvisor Select portfolio management platform has reached over $1 billion in assets in the 19 months since its launch.

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

When I practiced as a CPA, there were days when I left the office wondering why anyone would ever want to go back tomorrow and do it again. Those days seemed to drag on forever. I did not feel very productive or accomplished, and generally didn't feel good about myself or my chosen career path.