Deductibility of Trust Investment Advisory Fees After Knight

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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.

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Deductibility of Trust Investment Advisory Fees After Knight

Section 67(e) Issues




This page gathers resources on issues affecting estate and trust administration costs after the Supreme Court's ruling in Knight v. Commissioner. AICPA Thanks IRS for Interim Guidance on Trust Investment Advisory Fees On March 11, 2008, the AICPA thanked the IRS and Treasury for issuing interim guidance on the treatment of trust investment advisory fees for 2007 returns. Learn More>> IRS Issues Interim Guidance on Trust Advisory Fees Notice 2008-32 offers interim guidance under section 67(e) on the treatment of investment advisory costs and other costs that are bundled as part of one commission or fee paid to the trustee or executor and are incurred by a nongrantor trust or estate. Learn More>> AICPA Comments on Estate and Trust Administration Costs After Knight On February 8, 2008, the AICPA offered comments to the IRS on issues affecting estate and trust administration costs after the Supreme Court's ruling in Knight v. Commissioner. Learn More>> AICPA Guide on Trust Advisory Fees for Form 1041 This practice guide addresses the handing of trust/fiduciary advisory fees after the Supreme Court's decision making these fees subject to the 2 percent floor. Learn More>> Supreme Court Sides with IRS, Trust Investment Advisory Fees Subject to 2 Percent Floor On January 16, 2008, the U.S. Supreme Court handed down a unanimous decision upholding the application of the 2 percent floor to trustee investment advisory fees. Learn More>> AICPA Practice Guide for Fiduciary/Trust Accounting This Practice Guide includes the tools and best practices for preparation of a fiduciary (or trust) accounting and understanding the fiduciary duties involved in providing trust and other fiduciary accounting services. Learn More>> AICPA Comments on Proposed Section 67(e) Regs on Trust Advisory Fees On October 8, 2007, the AICPA commented on proposed section 67(e) regulation on trust advisory fees. Learn More>>