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SECURE Act brings changes for inherited accounts

  • January 27, 2020

The SECURE Act changed the rules for inherited retirement accounts by stipulating that many beneficiaries will have only 10 years to withdraw all of the funds. "We'll be looking at beneficiary designations in greater detail, particularly those who are leaving retirement accounts directly to children or non-spouse beneficiaries and to trusts for the benefit of children," said Oscar Vives Ortiz, CPA/PFS. Continue Reading

Secure Act, Fiduciary Rules Set Up a Doozy of a Compliance Year

  • December 26, 2019

Major changes are afoot in the rules that govern advice-giving. Along with new sweeping retirement planning rules ushered in under the Setting Every Community Up for Retirement Enhancement (Secure) Act, advisors and broker-dealers will have new fiduciary-related rules to comply with in the new year. Continue Reading

Steps toward closing the gender pay gap

  • September 12, 2019

Female accountants and auditors made less than their male colleagues did, according to a 2018 report from the American Association of University Women. Organizations can take several steps to close the gap, including tracking compensation metrics, narrowing ranges for starting salaries and setting objective guidelines for providing pay raises. Continue Reading

Report finds shift in accounting firm hiring

  • August 19, 2019

Almost one-third (31%) of new graduate hires in public accounting in 2018 were nonaccounting graduates, an AICPA survey shows. While enrollments and graduates are down, the 208,000 students projected to be enrolled in undergraduate accounting programs in 2017 to 2018 marked the second-highest total ever, and the 76,542 projected total of bachelor's and master's degrees earned remained above prerecession levels. Continue Reading

The most common tax problems for 2020

  • August 19, 2019

Advisers and clients should be aware of the impact of the Tax Cuts and Jobs Act and other issues as they look ahead to the 2020 tax season. This article lists 10 potential trouble spots related to topics such as retirement contribution limits, alimony and medical expense deductions. Continue Reading