Entries by Brennan

Professional Advisors Win with DoL Fiduciary Rule

The recent announcement by the Department of Labor (DoL) establishing a Fiduciary Standard for retirement accounts is a watershed moment for consumers and professional advisors.  The rule is a principles-based standard requiring advisors advising on retirement accounts (such as 401(k)s, 403(b)s  and IRAs) to work in the best interests of their clients as opposed to […]

Tax Preparer Guide to Identity Theft

Everywhere you turn you hear more and more instances of identity theft.  As tax preparers, we see this when electronically filed returns are rejected because someone has already filed using a stolen Social Security number.    This is the start of a time-consuming and frustrating process.  Earlier this year, Turbo Tax suspended State e-filings due to […]

Maximizing Social Security Benefits by Not Claiming at Age 62

Choosing the right age to start Social Security benefits is one of the most important decisions in your financial life.  Unfortunately, most people are tempted to claim as soon as they become eligible at age 62.  This strategy results in reduced lifetime benefits for you and your spouse and may have a lasting impact on […]

Four Ways a CPA Could Help Wealth Management Clients

Financial advisors get trained in taxes, of course, but they often just get a basic framework for how to structure investments. A CPA can bring a much deeper level of understanding to a client’s tax situation, here’s four reasons how: 1. Let’s face it – taxes are complicated. From the Medicare surtax to the new, […]

Why Financial Industry Regulations Impacts You

Currently, the financial advisory industry is in the midst of numerous regulatory changes with the most important issue involving the definition of “financial planner” and “financial advisor” and whether these titles require professionals to have a legal responsibility to put their clients’ interests first.  As the law stands now, only advisors registered with the SEC […]

Why it is Important to Have a Will

According to a recent study, more than half of Americans age 55 to 64 do not have wills (the numbers are worse for those 45 and 54).  I want to focus on the ramifications of why a will is necessary and why it is important to act now to discuss the matter with your financial […]

The January Effect – What Is It?

As the end of 2013 approached you probably heard a lot of commentators talking about the “January Effect”.  No, this is not the feeling everyone in the Northeast has about relocating to somewhere warmer.  The “January Effect” is the market phenomenon that the stock market rallies in the month of January with a particular rise […]

A Guide to Pass the Family Vacation Home to the Next Generation

Vacation homes by the beach, ski slopes or in the countryside are a great source of enjoyment and pride for a family. For most families, the intention is to pass ownership down to children and eventually grandchildren. However, there are numerous financial and emotional factors involved in transferring real estate to the next generation. Tax […]

Employer Term Life Insurance

Have you elected additional Life Insurance through your company’s employee benefits?  Many people sign up for coverage because it is easy to acquire since there is slim to no underwriting requirement and have relatively low premiums.  While young, this approach can work if you like the idea of extra insurance on the cheap.  However, at […]