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Bill would shift burden, complicate taxes
Rep. Charles B. Rangel's Tax Reduction and Reform Act of 2007 is misnamed. It should be called the Tax Reallocation and Complication Act of 2007 or perhaps the Accountants and Financial Planners Full Employment Act of 2007.
A Three-Step Approach to Funding LTC Costs
Talking to your clients about long-term-care costs is probably one of the most important conversations you can have…
Let’s not rush to arbitration judgment
The North American Securities Administrators Association Inc. and the Public Investors Arbitration Bar Association want to remove industry arbitrators from securities arbitration panels, arguing that the presence of industry representatives makes the panels inherently unfair.
It’s harvest time – for tax losses
As November approaches, and 2007 comes to a close, investors are taking stock of their realized and unrealized gains and losses for the year.
Economic storm clouds are gathering
When the Federal Reserve Board cut the discount and federal funds rates by 0.5 percentage points Sept. 18, some critics charged that Fed Chairman Ben Bernanke and his colleagues had acted too quickly.
Pay close attention to retirement plan fees
Many financial planners and investment advisers have helped small companies establish 401(k) retirement plans for their employees.
Don’t make early-withdrawal mistakes
Early withdrawals from retirement accounts should be discouraged. Withdrawals reverse the retirement savings process, and early distributions are the most expensive type, as they are subject to both income tax and the 10% early withdrawal penalty.
IRA beneficiaries beware wrong turns
It’s easier to put money into an IRA than take it out. Financial advisers have helped clients…
The Great Lakes State is all wet
There is something rotten in the state of Michigan. Gov. Jennifer Granholm and state lawmakers emerged from a recent late-night budget session with a new 6% sales-and-use tax that affects investment advice services, among about 20 other previously untaxed services.
What do we want? Social Security reform, now!
Social Security was once the third rail of politics. For years, the conventional wisdom held that if politicians mentioned the system's financial problems and so much as alluded to changing anything, they faced electrocution in the court of public opinion and a grisly end to their career
Tax changes mean fiduciary issues
There are special fiduciary issues associated with hedge and private-equity funds. I testified before the Senate Fi-nance Committee…
Help investors diversify intelligently
Financial planners and investment advisers apparently are doing their jobs well — their clients and other individual investors are diversifying their investments as never before.
‘Goldilocks’ Retirement: Is your distribution rate just about right?
Retirement distribution planning is one of the most challenging areas facing financial advisers. Regardless of the difficulty,…
Insurance regulators flubbing their jobs
State insurance regulators have only themselves to blame for a renewed push by parts of the insurance industry…
Congress is unwilling to give up AMT addiction
Seven months into the session, Congress has done nothing to fix the alternative minimum tax mess. It has…
With QDIAs, an overall evaluation is key
We applaud Donald Trone’s efforts to identify prudent selection and monitoring criteria for qualified default investment alternatives as…
Roth IRA strategies for a rocky market
While recent stock market declines may worry some investors, those with stocks and funds in their individual retirement accounts can take advantage of current market volatility by making key moves.
Answering retirement’s big question
I am one of the umpteen million baby boomers slogging my way toward retirement. My generation — oh, you know the drill: “We changed everything,” “We’ve rewritten the rules,” yadda, yadda, barf.
Is time right for specialized bond products?
Financial planners, investment advisers and others who provide advice to wealthy individuals say they will continue to use…
The computer-driven advice model
The Pension Protection Act provides a good outline of the major components required Over the past year, I have written extensively on provisions of the 2006 Pension Protection Act. Let’s now focus on components of the PPA’s computer-driven advice model.
