A couple’s financial compatibility is becoming just as important as physical and intellectual compatibility when it comes to young relationships, according to research published from Northwestern Mutual. Younger generations, including Generation Z (ages 18-26) and millennials (ages 27-42), have been taking their financial situation more seriously compared to their […] Click here to view original […]

Are you tired of spending money on toys that just end up broken or in the back of a closet? Well, have you thought about giving a gift that keeps on giving? Financial gifts cut down on clutter and can help children in the future. Money loses value because […] Click here to view original […]

RALEIGH, N.C. — Financial experts say now is the time to start thinking about money moves that will set you up for success in the new year. This comes after a year of increasing housing and rent costs, interest rate hikes and grocery prices. What You Need To Know […] Click here to view original […]

Your wealthy clients likely deal with IRS tax forms more than other clients—and it’s likely they’re getting these forms late in the year from the businesses and employers reporting things like their income and investment proceeds. Many forms begin arriving early in the calendar year. But some of the […] Click here to view original […]

You’ve heard “Use it or lose it.” Well, when it comes to you clients’ kids, it’s “Know them or lose them.” That means, you need to get to know them well—before the clients pass away and their money transfers to the next generation, according to financial advisors and firm […] Click here to view original […]

The Internal Revenue Service recently bumped the income thresholds for its tax brackets by 5.4% for 2024, its latest adjustment to account for elevated rates of inflation. The move is unlikely to produce a material change on most Americans’ tax burdens, according to financial advisers. Rather, it is designed […] Click here to view original […]

Section 1202 of the Internal Revenue Code has long allowed taxpayers to exclude the sale of certain qualified small-business stock from federal capital gains taxes, creating a tremendous lure for investing in small businesses. “If certain requirements are met at the time of the investments, investors can exclude up […] Click here to view original […]

CPAs need to be aware of current tax developments in key states to properly advise clients doing business in multiple jurisdictions. As state and local tax jurisdictions continue to face budgetary and staffing challenges, it is crucial for CPAs to regularly monitor developments in surrounding jurisdictions. This article will […] Click here to view original […]

Individuals who own interests in a closely held family business need to address an exit strategy. In many cases, such individuals wish to have a child who is involved in the business takeover its operation at some point, often when the founder retires, becomes incapacitated, or dies. This can […] Click here to view original […]

The CTA seeks to fill those gaps by creating a new system for reporting beneficial ownership information (BOI), to be implemented through regulations created by the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). On September 30, 2022, FinCEN issued a final rule governing the beneficial ownership reporting system, […] Click here to view original […]

The road to college financial aid usually begins with the Free Application for Federal Student Aid, or FAFSA. After years of delays, a new version of the form will be released at the end of December. While it promises increased access to aid, the delays could put universities and […] Click here to view original […]

Kim Owen If you want to make a big purchase, such as a new car or a piece of property, or you were faced with a large, unexpected expense, such as a major home or auto repair, would you have the funds readily available? If not, you might look […] Click here to view original […]