Court Overturns Obama Rule Protecting Investors Saving for Retirement

A U.S. court of appeal has struck down a Department of Labor (DOL) rule that was intended to prevent financial advisers from steering their clients to bad retirement investments, but the Securities and Exchange Commission (SEC) has proposed new regulations to at least partially address the same problem. Prompted by […]


Medicare Extends Deadline for Relief from Part B Penalties

Medicare is extending its offer of relief from penalties for certain Medicare beneficiaries who enrolled in Medicare Part A and had coverage through the individual marketplace. Beneficiaries who qualify will be able to enroll in Medicare Part B without paying a penalty for late enrollment if they enroll by September […]


More Give in the Gift Tax

The Tax Cuts and Jobs Act of 2017 increased the federal estate tax exemption to $11.18 million for 2018. That’s per person, so the combined exemption for a married couple can be as much as $22,360,000 worth of assets this year. The same ceilings apply to the federal gift tax, […]


Don’t Neglect Estate Planning

The article, “More give in the gift tax,” in this issue mentions that the federal estate tax exemption now exceeds $11 million per person. Accordingly, few individuals or married couples will owe this tax. Nevertheless, there is more to successful wealth transfer than reducing or eliminating estate tax. Ideally, you’ll […]


Moving Your Business to a Low-Tax State

As explained in the April 2018 CPA Client Bulletin, the Tax Cuts and Jobs Act of 2017 has put a cap on state and local tax (SALT) deductions. Beginning with your 2018 tax return, if you itemize deductions, you can count no more than $10,000 a year of SALT deductions […]


Tax Calendar: July and August 2018

JULY 2018 July 16 Employers. For Social Security, Medicare, withheld income tax, and nonpayroll withholding, deposit the tax for payments in June, if the monthly rule applies.   July 31 Employers. For Social Security, Medicare, and withheld income tax, file Form 941 for the second quarter of 2018. Deposit any […]


More States Asking to Eliminate Retroactive Medicaid Benefits

Arizona and Florida are the latest states to request a waiver from the requirement that states provide three months of retroactive Medicaid coverage to eligible Medicaid recipients. Medicaid law allows a Medicaid applicant to be eligible for benefits for up to three months before the month of the application if […]


Seniors Often Must Fight for Medicare Home Health Benefits

Medicare is mandated to cover your home health benefits with no limit on the time you are covered. Unfortunately, few Medicare beneficiaries get the level of service they are entitled to, and many find their services cut off prematurely. Getting these benefits can be critically important as Medicare home health […]


New Brokerage Account Safeguards Aim to Protect Seniors from Financial Scams

New rules have been put in place to protect seniors with brokerage accounts from financial scams that could drain the accounts before anyone notices. As the population ages, elder financial abuse is a mounting problem. Vulnerable seniors can become victims of scammers who convince them to empty their investment accounts. According […]


Finding the Best Retirement Calculators

Figuring out how much to save for retirement and when you can safely stop working can be difficult. A growing number of online retirement calculators, many of them free, are available to help. Although these calculators may yield vastly different results, they can still be useful tools. Based on information […]