The AICPA hosted a round-table event among CPAs from the personal financial planning community to discuss the recent financial crisis, its effect on client investment strategies, and the outlook for the future.
Many attribute the beginning of the financial crisis to the collapse of the housing market. While the housing bust indeed plays an important role, particularly in the health and stability of the banking sector, the real problem is deeper. The fluctuations observed across real estate markets over the last decade or so simply reflect sizable macroeconomic imbalances. It is the nature of these imbalances that we must fully appreciate to better understand the crisis and to potentially forecast plausible scenarios going forward.
The authors explain the role of macroeconomic imbalances—namely excessive consumption by government and households—in the current economic crisis and discuss the tough policy choices necessary to restore the nation to long-term prosperity.
Financial Planning, July 1, 2009
CPAs are often so committed to achieving client goals that they can sometimes overlook the need to keep their own businesses operating at peak performance. This problem only worsens during economic downturns when client concerns and business-planning issues mount. However, by including five key elements in their financial system, CPAs can make more informed decisions, face problems more successfully and pursue opportunities created by a revolutionized business environment.
The AICPA PFP Team encourages CPA financial planners to stay in front of their clients during these uncertain economic times. As their trusted business and financial adviser, clients look to you for guidance. The following PFP Team resources will assist you in advising and communicating with your clients.
This document presented by Ric Rosario, CPA, CAMICO, highlights risk management issues that CPAs should be aware of during an economic downturn, highlighting warning signs of risky clients and ways CPAs can protect themselves.
The AICPA Member Retirement Committee has
selected Paychex as the preferred provider of 401(k) services
through the AICPA Firm Based Member Retirement Program. As
a leading national provider of payroll processing, human resource and benefit
services, Paychex is uniquely positioned to develop an integrated end-to-end
retirement solution for your firm -- with unique pricing and service benefits
designed exclusively for AICPA members.
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Despite these turbulent economic times, you may be surprised at some of the advantages that a
Alternative investments, generally speaking, are investments that are considered outside of the traditional asset classes of stocks, bonds and cash. For example, net-leased real estate is getting closer looks. Learn why...
Private placement life insurance offers the high-net-worth client tax advantages. Private placement life insurance, which is as much about asset protection as it is about growing assets, offers HNW client tax-advantaged hedge-fund investing and other benefits.
Investors have suffered during 2008, but the tax code provides opportunities for both greed and caution after the fall. This article addresses tax issues arising from stock market declines, including Wash Sale rules, IRA to Roth conversions and AMT relief for taxpayers who exercised incentive stock options.
In handy download format, this book focuses on how to assess and modify your firm’s estate planning services in a volatile market. Includes sample checklists and a marketing PowerPoint presentation.
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Listen to these FREE audio Infocast discussions from a year-long series on helping organizations survive the current economic crisis.
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With the current financial crisis, knowing the rules that can impact your clients' estates is critical.
Along with advice regarding income, gift, and estate taxes, your clients may need your help to plan for future long-term care needs. Get answers on elder law issues, including advanced directives, Medicaid, Medicare and other topics facing elderly clients.
The Accountant's Business Manual has proven to be a dependable complete "quick answer book" for a wide array of business, legal, tax and financial questions.
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