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Senate passes 1099 repeal CFO Share     The onerous provision in the health care reform law that would require businesses to file innumerable 1099 forms is on its way out. On April 5, the Senate passed the House version of a bill to repeal the provision by an 87 to 12 vote. The bill also contains an alternative way of raising the tax revenue that the requirement was projected to provide. The next stop for the bill is President Barack Obama, who has previously said publicly that he is in favor of such a measure. More
What are the top traits for financial planners? Financial Planning Share
Financial expertise and personal character are the top qualities Americans look for when selecting a financial planner, according to the First Command Financial Behaviors Index. In a survey of middle-class Americans who work with a financial planner, 75 percent picked "knowledgeable" and "trustworthy" as the most important attributes they seek in a planner. "Honest" ran a close third at 70 percent. More Health care act has saved $38 million so far Senior Market Advisor Share
Health care reform concessions from drugmakers, which led to discounts of 50 percent on prescription drugs, have saved Medicare beneficiaries $38 million dollars in just the first two months of the year, the Department of Health and Human Services is reporting. For Part D beneficiaries, the savings averaged $800 on out-of-pocket costs, while for the approximately 11,000 with very high drug costs, the savings averaged $1,775. Nearly 50,000 beneficiaries received the average savings, and millions more are expected to see savings through the end of the year. More Study: Most Americans find their retirement goals unattainable Reuters Share
According to the newly-released study called Shedding Light on Retirement, 55 percent of Americans don't know how to achieve their retirement goals. The ING-sponsored study, which polled 2,630 retirement investors, also revealed that while Americans want to be in control of their money, they're also overwhelmed because of lack of guidance. In an interview with Reuters, Lynne Ford, CEO of ING Individual Retirement, pointed out some of the major take-home points from the survey. More
Treasury Department and IRS extend the deadline for filing Form 8939 beyond April 18 Internal Revenue Service Share
The Treasury Department and the Internal Revenue Service recently announced that Form 8939 is not due April 18 and should not be filed with the final Form 1040 of persons who died in 2010. New guidance that announces the form due date will be issued at a later date and Form 8939 will be released soon after guidance is issued. Form 8939, Allocation of Increase in Basis for Property Acquired from a Decedent, is an informational return used to establish basis for income tax purposes of property acquired from a person who died in 2010. More House Republican budget blueprint tweaks Dodd-Frank, sets back SEC InvestmentNews Share
On April 5, House Republicans presented a blueprint for the fiscal 2012 budget that seeks to end what they see as an onerous provision of the Dodd-Frank financial reform law, dials back federal spending to a level that Securities and Exchange Commission officials say would hamstring the agency and recommends a tax overhaul that includes eliminating major tax breaks. Rep. Paul Ryan, R-Wis., chairman of the House Budget Committee, unveiled a plan that would cut an additional $6.2 trillion from the federal budget and reduce the deficit by $4.4 trillion more over the next decade than would the budget proposal President Barack Obama made in February. More
Low frequency advisors' biggest communication concern AdvisorOne Share
How often do you communicate with your clients? An SEI Quick Poll found nearly two-thirds of advisors don't think they communicate often enough. In fact, frequency was the most common concern, more than worries about being timely, concise or easy to understand. More 7 steps for cloning the ideal insurance client IFAwebnews.com Share
There has been a lot of controversy the last few years around cloning — cloning of sheep, cloning humans, etc. When it comes to "cloning your best clients" there's no controversy at all. Every financial professional wants to acquire more clients that resemble their top clients. Here are seven steps to accomplishing that goal. More
Lunch/Brunch conversation: 1 p.m.-1:45 p.m. EDT April 13 Society of FSP Share
"The Healthcare Tidal Wave: Dealing with Compensation Under MLR," moderated by Lee Bethel, CLU, ChFC, RHU, REBC and Gayle Holcom, CLU, ChFC, MBA. Talk with colleagues about how the "minimum loss ratio" will affect your dealings with clients. Details at April 13 Lunch/Brunch. FSP's Member Discount Program can save you money on running your practice Society of FSP Share
FSP's Member Discount Program can save you money on running your practice. Our newest participants in the Member Discount Program are The Business Source Leimberg Services, Inc.; LTC Consultants; Office Max; Pentera Group, Inc.; and Sprint. Visit Member Discount Program for these and all of FSP's Member Discount companies for great savings on practice-related products and services. |
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