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As a tax practitioner, you may have contemplated adding personal financial planning services to your practice. There is a natural progression to go from being your client's most trusted tax advisor to also being their most trusted personal financial advisor. But you have questions: will it be profitable? How do I get started? What are other CPA firms doing? All of these questions are addressed in a new research study published by the AICPA's PFP Section that can show you how to expand your services into this lucrative niche area that is a great compliment to your tax practice.

The Personal Financial Planning Section of AICPA and Moss Adams LLP are pleased to announce the results of their first joint study of CPA financial planning and advisory practices- AICPA/Moss Adams CPA Financial Planning Practice Study.

Click here for more information

 
Tax Home > Resources > Tax Advocacy for Members > Tax Legislation and Policy > AICPA Offers Preliminary Comments to President's Advisory Panel on Federal Tax Reform
AICPA Offers Preliminary Comments to President's Advisory Panel on Federal Tax Reform

On January 7, 2005, President Bush established the President’s Advisory Panel on Federal Tax Reform. The Panel is charged with developing a policy report by July 31, 2005, that sets forth options for reforming the tax code to make it simpler, fairer, and more pro-growth. Furthermore, the Executive Order requires that at least one option submitted should use the Federal income tax as the base for its recommended reforms.

 

In response to a request for comments from the Panel, the Tax Division submitted preliminary materials on guiding principles that should be considered in evaluating and recommending tax reform options. The submission also included simplification recommendations and copies of the 1995 AICPA Report, Flat Taxes and Consumption Taxes: A Guide to the Debate.

 

While the debate may be different in 2005, the issues have not changed. Accordingly, the Tax Division will issue a new tax reform report this summer. It will draw upon the basic analysis developed in 1995, provide coverage of developments during the past decade, and add expanded discussion of hybrid approaches that might be considered in the current reform environment.

 

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Copyright © 2005 by the American Institute of Certified Public Accountants, Inc., New York, New York.