Wealth Strategies Journal

Do More, Better, Faster

Month: June 2014 (page 1 of 12)

Customer Service Or Whatever

Keith Lee writes, at Above the Law, about customer service, noting “(i)t doesn’t matter if you’re cutting lawns, washing cars, or scrubbing toilets – I’ve done all three – you have to take pride in what you do. It communicates volumes to clients. This is doubly true if you are … Continue reading

5 megatrends that will revolutionize insurance

The National Underwriter writes about five megatrends that will revolutionize insurance.    It notes that a megatrend is not a prediction but a certainty, an event with global ramifications that is already unfolding and affecting people. And although the more massive of these megatrends can be intimidating, they present more opportunities for creative … Continue reading

Retirement Plans Thrown Into Disarray by a Divorce

The New York Times reports on the impact of divorce on retirement plans, beginning “AFTER enduring a divorce four years ago, Mike Miller’s vision for a golden retirement got an unexpected makeover. Mr. Miller had been married for more than 30 years, and now he was single. His longtime dream … Continue reading

‘Smart Beta’ Investing Lets the Yardstick Pick the Stocks – NYTimes.com

When it comes to investing money, most people want to be smart about it. So an increasingly popular strategy with smart in its name has intrigued certain investors, while turning off others who see it as little more than a marketing gimmick.

I’m talking about so-called smart beta strategies. Many different … Continue reading

5 Money Moves For Boomer Couples To Consider

Next Avenue, a public media website, writes on Forbes, that “as a financial adviser for more than two decades, I have found that many boomer couples have not prepared well for something they’re likely to experience: The transfer of assets from the husband to the wife when the husband dies.”

According to … Continue reading

For Retirement, Online Tools Can Encourage Greater Saving

This year, Putnam Investments, which will soon become the second-biggest administrator of 401(k) plans, took a step toward giving customers a kick in the pants re savings.

A central feature of its online retirement account statements is a new tool that allows users to see exactly how their savings rank … Continue reading

New FATCA Form Instructions Published, Critiqued

Last week the IRS updated the instructions for a pair of important forms:  Form @-8BEN-E, “Certificate of Status of Beneficial Owner for United States Tax” and Form 8966, “FATCA Report.”  Tax Analysts contacted two leading practitioners, Deborah J. Pflieger of EY, Laurie Hatten-Boyd of KPMG, and Cheryl S. Riedlinger of … Continue reading

Biometrics Provide Better Protection but Taxpayers and IRS Wary

Although biometrics could be an important tool that the IRS can utilize to protect taxpayer identities, reluctance on both sides may pose a significant challenge to its implementation.  Biometrics such as fingerprint and iris scans can directly connect taxpayers to their personal information.  Further, biometric data can only be used … Continue reading

Tax Court Reconsiders Old Case on Trust’s Liability

The Tax Court reconsidered a previous opinion holding a trust liable as tranferee of the stock of four corporations.  The parties agreed that the trust should be liable for interest only after the date of liability notices.  The court held that a credit should reduce the tax liability where an … Continue reading

IRS Announces New Filing Season Program for Return Preparers

Following the D.C. Circuit Court of Appeals’ decision invalidating the IRS’ recent return preparer regulations, the IRS has announced a new filing season program for 2015.  Unenrolled return preparers will receive a record of completion when they complete various CE courses.  Those in compliance will be posted on an IRS … Continue reading

Man’s mistake cost his children $400,000 of an IRA inheritance

Before Leonard Smith lost his battle with cancer in 2008, he worked with his financial advisors and attorneys to make sure his children received the balance of his retirement funds when he died.

A single mistake, however, thwarted his well-laid plans.  To read more, see article at Man’s mistake cost Continue reading

Replaced Executors and Will Challenges

In the recent case Estate of Sobal, a California appellate court addressed the scope of a replaced executor’s interest in an estate, and its bearing on their ability to challenge wills.

Sonia Sabol, the testator, executed a will naming Jay Rose as her executor.  Later, she executed a codicil … Continue reading

Creating the net investment income tax regulations

Robert S. Keebler, CPA, in the Journal of Accountancy, interviews David H. Kirk, one of the two principal authors of the proposed and final net investment income tax regulations (T.D. 9644, REG-130843-13, and REG-130507-11),  and who was an attorney in the Passthroughs and Special Industries Division of the Office of … Continue reading

You Gantt do that

The Journal of Accountancy answers the questions, “does Excel 2013 provide the option to produce Gantt charts?”

The answer, No, Excel does not produce Gantt charts out of the box, but you can create one with a bit of Excel trickery, as illustrated in the article, located at You Gantt Continue reading

Risky business of serving the rich and famous

The Journal of Accountancy reports that serving the rich and famous is risky business.  Specifically, it reports the following:

Money. Fame. It’s not just for the entertainers of the world. Accountants can be well-known and famous or, in some cases, infamous. You may have read about pop stars, actors, and … Continue reading

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