Company retirement plans have changed significantly over the past few decades, with a few trends coming on strong. In light of the fact that 401(k) participants are famously hands-off, plans have increasingly added “nudge” features to get more people saving: Roughly two thirds of plans now offer automatic enrollment, for example, up from just about half in 2012. Roth accounts have also shot up in popularity ...

Meet Skynet … Your Professional Role is About to Change! What is Artificial Intelligence (AI)? How will AI impact the way we work? Serve our clients? In this article, the author explains what AI is and how the evolving technology will impact our professional practice. The goal of artificial intelligence (AI) in the computer science world is to create human intelligence demonstrated by machines. Once this hu ...

Full-Time Mother (Part I of II) Striking a work-life balance is difficult. Are there solutions and an upside to firms committed to retaining the investment made developing professionals? This article was originally written in 2013 for the Withum Journal where Laura Whitman shares her perspective. The article has been updated to reflect events that occurred since it was originally published. This article was ...

The Internal Revenue Service has highlighted 12 abusive tax schemes it wants taxpayers and tax practitioners to be on alert for this year. Phishing and scam phone calls are the biggest repeat offenders. To read the full article in the Journal of Accountancy, click: IRS’ “Dirty Dozen” Scams—2019 Edition. ...

Changes in the tax code have doubled the standard deduction, meaning that clients who donate money to charity may not see the tax benefits to which they are accustomed. Advisers can help by encouraging clients older than 70½ to use qualified charitable distributions and having younger clients use gift clumping strategies. Volume 1 of The Adviser's Guide to Financial and Estate Planning has several chapters ...

Financial advisors spend a significant portion of their time on back-office tasks and the search for new clients. New technology does not necessarily allow advisors to add more clients but may instead enable them to provide deeper services to their existing clients. To read the full article in Nerd’s Eye View, click: What Advisors do with their Time. ...

Ownership Interests in Privately Held Companies This article focuses on concepts and issues that are important for family law attorneys to understand when navigating cases that involve divorcing clients with ownership interests in privately-held entities. One of the first questions that arises is whether we need to retain a valuation expert? This is an important question, where experts can provide attorneys ...

Implement Your Content Marketing Strategy To successfully implement a content marketing plan to support your firm’s overall marketing goals, you need to build an editorial calendar. In a solid, well-planned editorial calendar, everything is planned out in advance, from scheduling to headlines. In this post, Dr. Lee Frederiksen shares some tips for creating an editorial calendar. [su_pullquote align="right"] ...

Get a return on your marketing investment by customizing content to fit your niche. This article offers seven tips for advisers, including being authentic and specific and ending all articles with a call to action. Take your marketing strategy further with this new podcast on creating a cohesive online presence, open to all courtesy of the PFP Section. To read the full article in Advisor Perspectives, click ...

CPAs explain key factors to consider when moving to life’s next chapter. The calendar says it may be time to retire, but how do you know if you are emotionally ready to take that step? The decision to retire is intensely personal, according to Michael Goodman, CPA,PFS, president and principal of Wealthstream Advisors Inc. of New York City, who often counsels individuals on their retirement plans. To read th ...

One of our most popular resources is ready to go with a fresh new look! Use the Analysis of a Tax Return for Financial Planning Opportunities piece alongside a client's 1040 to identify their needs and places to add value, and to open the door for deeper conversations. To read the full article in Smart Brief, click: Fresh New Look: The Analysis of a Tax Return for Financial Planning Opportunities. ...

Fair Market Value Considerations (Part II of II) The first of this two-part series reviewed the unique value drivers that impact the typical valuation approaches, methods, and techniques that are often utilized in determining the value of these enterprises in the current healthcare delivery system. This second part will discuss the value drivers related to home healthcare and hospice enterprises. Introducti ...

April 2019 In the first quarter of 2019, there were no reported U.S. Tax Court cases involving either business, estate, or FLP valuation issues. Notwithstanding the above, there were several cases that valuation and litigation support professionals will want to consider. In this article, five recent cases are discussed. One of the leading cases circulating amongst the business valuation community is Kress v ...

More than half of older workers experience an involuntary job loss between age 50 and when they retire, an analysis found. Advisers should support clients by showing empathy, assisting with short-term planning, and helping them tap into home equity if necessary. Financial advisers are a valuable resource during trying times, and are in a unique position to help clients navigate the situation while minimizin ...

Firms may boost productivity and satisfaction by taking actions on three fronts. There is a disconnect when it comes to what business leaders say about employee engagement and what the employees themselves say they are experiencing. To read the full article in the Journal of Accountancy, click: Smashing the Barriers to Employee Engagement. ...

An example of outdated industry practices, says the chief product officer, is how some brokers still need a canceled check from a client to transfer money. To read the full article in Financial Planning, click: How Firms Are Holding Back Innovation. ...

Fair Market Value Considerations (Part I of II) The valuation of home healthcare and hospice enterprises and services are influenced by certain market forces related to the Four Pillars of Healthcare Valuation, i.e.,: (1) regulatory; (2) reimbursement; (3) competition; and, (4) technology—each of which relates to almost all aspects of the U.S. healthcare delivery system. This first of a two-part series on h ...

in Economic Damages Calculations (Part II of III) The purpose of this article—the second of three on this topic—is to provide the reader with an understanding of Chapter 2 (Costs) of the 2018 Practice Aid as well as certain other publications containing a body of knowledge on the best practices for developing “avoided or saved costs,” sometimes referred to by the courts as incremental costs. A prior article ...

Some CPAs consider themselves clever for coming up with easy-to-remember passwords, but hackers are often wise to this tactic. Each year, SplashData compiles a list of millions of stolen passwords and sorts them in order of popularity. For 2017, here is a list of the top 10 most commonly used stolen passwords. To read the full article in the Journal of Accountancy, click: Account Management: Avoid Commonly ...

CPAs in small firms face many of the same operational challenges when it comes to running their firms. This is the first in an occasional series highlighting how individual practitioners tackled common issues. To read the full article in the Journal of Accountancy, click: Small Firm Spotlight: How I Recruit and Hire New Accountants. ...