By Michael J. Jones, CPA | Volume 2, Issue 6 (June 2014) In my practice, I’m seeing an increase in inherited Individual Retirement Accounts. That’s alerted me to an ever-increasing need for practitioners to review not only how IRAs fit into clients’ financial planning, but also to review and advise them properly regarding the beneficiary form and other key issues. Here are some things advisors and their clients need to keep in mind. An IRA is a ticking tax bomb. Unlike other assets, the income tax basis in an IRA inheritor’s hands will not be its fair market value upon death….
Recent IRA Developments
By Robert S. Keebler, CPA, MST, AEP (Distinguished), CGMA | Volume 2, Issue 6 (June 2014) Individual Retirement Arrangements (IRAs) are one of the most popular retirement saving vehicles available today. Many of your clients, if not all, will have either (if not both) a Traditional IRA or a Roth IRA. The rules concerning IRAs are vast and continually being further defined. In this article, I will discuss some of the more important IRA developments over the past six months or so. Bobrow v. Commissioner In Bobrow v. Commissioner, TC Memo 2014-21, the court interpreted the “limit of one IRA to IRA…
Recent IRA Developments
By Robert S. Keebler, CPA, MST, AEP (Distinguished), CGMA | Volume 2, Issue 6 (June 2014) Individual Retirement Arrangements (IRAs) are one of the most popular retirement saving vehicles available today. Many of your clients, if not all, will have either (if not both) a Traditional IRA or a Roth IRA. The rules concerning IRAs are vast and continually being further defined. In this article, I will discuss some of the more important IRA developments over the past six months or so. Bobrow v. Commissioner In Bobrow v. Commissioner, TC Memo 2014-21, the court interpreted the “limit of one IRA to IRA…
The Top 20 Seminar Marketing Mistakes People Make (Part 1 of 2)
By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law | Volume 2, Issue 6 (June 2014) Marketing – – particularly seminar marketing – – has come up quite a bit in recent weeks. From those attending our May Ultimate Level event, to list serve discussions, to people randomly contacting me. It prompted me to take a break from the usual practice-building topic and put together an article on seminar marketing. Over the years, seminar presentations sure have evolved, from overhead transparencies, to slide carousel projectors to laptops and…