Harvesting tax losses and shifting clients' assets into tax-friendly exchange-traded funds can help investors lower their 2018 tax bills. It's a good idea to check the tax-cost ratios of various funds and to remember that an ETF's key tax advantage is related to its potential for in-kind redemptions.
Couples going through divorce proceedings have a strong incentive to conclude the process before 2019, when new rules take effect that end a tax deduction available to people who pay alimony. PFP/PFS Section members can access this webcast recording featuring Bob Keebler, CPA/PFS, presenting more tax and financial planning strategies to consider before the year ends.
A taxpayer who performs a 1031 exchange involving property in Pennsylvania will incur a tax liability at the state level. Here is an in-depth look at the state's treatment of these exchanges and a discussion of whether other states may follow suit.
One sign that you need to reassess your firm's use of technology is that you're spending significant time on administrative work rather than on attracting new clients. Also, pay attention to whether high net worth clients are requesting enhanced digital capabilities. Check out this hot new toolkit, which can help you evaluate and implement new technology (included with PFP/PFS Section membership).
The Federal Reserve still plans to gradually increase interest rates but has left them unchanged at a meeting this week. The central bank says the US economy remains healthy but notes a downturn in growth of business investment.
Stop wasting your time with Ctrl+C and Ctrl+V. Software can do that for you. It's your chance to cut ties with tedium and to focus on the data analysis you really want to do.
S&P 500 companies most often chose the modified retrospective transition approach for revenue recognition implementation, according to a white paper by Intelligize. Meanwhile, Securities and Exchange Commission comment letters show measurement of performance obligations was a particularly challenging area for early adopters.
Private company franchisers who are deciding how to account for certain franchise fees under the new revenue recognition standard can benefit from examples and information provided in a memo from the Financial Accounting Standards Board staff.