Bruce Starks, CPA, CFP® – Page 17

Real Estate Income and IRA Contributions

Course: Retirement PlanningLesson 1: Using IRAs to Build and Distribute More Retirement Income Student Question: This page states that rental income is not included in the definition of earned income. If the client is a professional real estate developer whose income is derived mainly from rental income, would they be able to contribute to an…

Are You Being Scammed by IRS Impersonators?

Good to Know Scamming—especially income tax scamming—is on the rise yet again. Even if you’ve already filed your income tax return, you may not be immune from clever and, in one case, particularly loathsome villainy. The IRS recently published a list of common scams and we’ll focus on three in today’s article, including: IRS impersonators,…

Value of Life Insurance in Buy-Sell Agreements

Course: Insurance PlanningLesson 17: Business Uses of Life Insurance Student Question: Do buy sell agreements accounts for projected growth of the company? Do the life insurance benefits increase over time to account for projected growth, or perhaps can they invest and grow conservatively to keep up with inflation (or COLA on the plan)? Instructor Response:…

Opportunities for Financial Advisors

CFP® Certificants in the News What do an aging financial advisor community and an increasing demand for financial planning tell us? According to CFP Board, our profession needs a talent pipeline; CFP Board is supporting this effort in three ways: GUIDE TO CAREERS IN FINANCIAL PLANNING publication, FINANCIAL PLANNING CAREER PATHS Guide, and SCHOLARSHIPS. We’ll…

Deductible Mortgage Interest

Course: Income Tax PlanningLesson 8: Arriving at Taxable Income Student Question: If a client has a $250k mortgage on a home worth $500k and they refinance to take equity out of their home, say $100k. Then they use that $100k to purchase a vacation home worth $300k (so they now have $450k in mortgage debt),…

CFP Board Continues Its Diversity Focus

CFP® Certificants in the News According to CFP Board “The Abacus Wealth Partners Scholarship for Increased Diversity in Financial Planning aims to advance the financial planning profession by providing financial assistance to students pursuing CFP® certification who are from populations underrepresented in the profession and have a financial need (emphasis added).” About The Sponsor Abacus…

Qualified Plans – Parties in Interest

Course: Retirement PlanningLesson 6: Matching Business Owner Needs to the Right Qualified Plan Student Question: How is “connection to the plan” defined in regards to a “party in interest” when talking about qualified plans? Would a plan participant count as someone with a connection to the plan? From the Coursework: A party in interest is…

How Have You Planned for Healthcare Costs in Retirement?

Good to Know The purpose of this article is to separate fact from fiction and help you motivate clients to plan, starting now, for the inevitable healthcare costs in retirement. We’ll start with good news—Americans are living longer. Average life expectancy increased by almost 10 years during the 50 years ending in 2010, according to…

Phantom Stock

Course: Investment PlanningLesson 5: Fundamental Equity Analysis Student Question: What is the difference between Stock options and Restricted stock plan or phantom stock? Seems confusing. Instructor Response: Let me know if you have any other questions.

Value of Life Insurance in Buy-Sell Agreements

Course: Insurance PlanningLesson 17: Business Uses of Life Insurance Student Question: Do buy sell agreements accounts for projected growth of the company? Do the life insurance benefits increase over time to account for projected growth, or perhaps can they invest and grow conservatively to keep up with inflation (or COLA on the plan)? Instructor Response:…