PFS Live Comes to Chicago,Illinois
Chicago, Illinois – August 1-2, 2024: As a CPA, are you ready to begin offering personal financial planning to your clients? Join us for an exclusive event, hosted by Avantax, featuring renowned personal financial planning expert, Tom Tillery, as he brings his wealth of knowledge to Chicago, Illinois with PFSLive!. Tom Tillery is a seasoned […]
Maximizing Benefits from Educational Assistance Programs: Key Insights for Personal Financial Planning
Personal financial planning is not just about managing individual finances; it also encompasses planning for business owners and their enterprises. In an increasingly competitive job market, effective planning can significantly enhance employee benefits as part of a benefits package, such as a 401(k) plan. One valuable strategy for business owners is educational assistance programs, which […]
Emergency and Abuse Exceptions to 401(k) Early Withdrawals
Personal financial planning is not just about managing day-to-day finances; it also includes planning for retirement and preparing for unexpected financial emergencies. The IRS recently released Notice IR-2024-170, offering essential guidance on exceptions to the 10% additional tax on early retirement plan distributions. This guidance provides critical relief options for distributions for personal or family […]
Understanding New FDIC Rules for Trust Accounts
In April, the Federal Deposit Insurance Corporation (FDIC) implemented a final rule to simplify deposit insurance regulations for trust accounts. These changes aim to make the rules easier to understand for both depositors and bankers. Here are the key highlights: Trust Accounts: The previous categories of revocable and irrevocable trust accounts have been merged into […]
Emergency Reserve Fund
An emergency fund is a crucial component of any sound personal financial plan. The fund acts as a financial reserve or safety net, to cover unexpected expenses, or interruptions in income without disrupting your long-term investments, which potentially could cause financial loss or adverse income tax consequences. The first step in the creation of an […]
Know the Difference Between a Credit Freeze and a Credit Lock!
In the realm of personal financial planning, safeguarding your credit is crucial. Two powerful tools to protect your credit from fraud and identity theft are a credit freeze and a credit lock, but do you know the difference? While they may seem similar, there are significant differences between the two. In this blog, we’ll explore […]
Susan M. Tillery, CPA/PFS, AEP® (Distinguished) to Speak at AICPA Engage 2024
Sunday, June 2, 2024, Aria, Las Vegas – Susan Tillery, CPA/PFS, AEP (Distinguished) financial advisor and a leading practitioner of the unbundled virtual family offices and personal financial planning, is honored to announce her participation as a speaker at the AICPA Engage 2024 conference. The event will take place June 2-6, 2024 at Aria, Las […]
HSA – A powerful tool in the Personal Financial Planning Process
Health Savings Accounts (HSAs) are a powerful, yet often underutilized tool, used to manage healthcare expenses and build long-term wealth as part of the personal financial planning process. Understanding how to effectively incorporate an HSA into your personal financial plan can provide significant tax advantages and help you save for future medical costs. A Health […]
Paraklete® Financial, Inc. Expands its Presence in Scottsdale, AZ, with a New Office
Scottsdale, AZ – May 28, 2024 – Paraklete® Financial, Inc., a distinguished financial advisory firm, is pleased to announce the opening of its newest office in Scottsdale, Arizona. This expansion underscores the firm’s commitment to providing exceptional financial services and personalized guidance to clients in the Scottsdale community and beyond. The Scottsdale office is led […]
Things You Need to Know about a Qualified Personal Residence Trust
Personal financial planning can be a complex process, especially when it comes to managing high-value assets such as a home. One effective tool for minimizing estate taxes and securing your property for future generations is the Qualified Personal Residence Trust (QPRT). What is a Qualified Personal Residence Trust? A QPRT is a type of irrevocable […]
