Stat Corner
Simple edit for UAT 6.5 Aug. 29, 2019. A recent survey of affluent Americans, conducted before the Tax Cuts and Jobs Act of 2017 was signed into law, found that three-in-five are likely to adjust their financial plans according to changes in tax policy. The survey found that affluent adults understand the value of a financial planner with substantial tax expertise. By nearly a nine-to-one ratio, (53 percent more likely versus 6 percent less likely) affluent Americans say working with individuals, such as a CPA financial planner, would make them more likely to reach their financial goals.
Other key findings of the survey:
- The most important aspects of a financial plan cited were retirement savings and income, tax efficiency of savings and investment, and healthcare planning.
- Eighty-seven percent of affluent adults say they would be more likely to reach at least one of their financial goals with a tax-efficient financial plan. The most frequently cited goal they would be more likely to reach was avoiding outliving assets in retirement.
- Ninety percent of affluent adults said that effective tax planning would be either very or somewhat important to their overall financial well-being in retirement.
Hot Topics
Enrollments in undergraduate and graduate accounting programs for the 2015-2016 school year totaled more than 250,000, maintaining the record high level from 2014-2015. This was driven primarily by an all-time high in undergraduate enrollments.
Statement on Standards for Accounting and Review Services (SSARS) No. 21 represents the efforts of the Accounting and Review Services Committee (ARSC) of the AICPA to clarify and revise the standards for members in public practice who perform reviews, compilations, and engagements to prepare financial statements. It is effective for engagements on financial statements for periods ending on or after December 15, 2015 but early implementation is permitted.
Troy K. Lewis, CPA, CGMA, chair of the AICPA Tax Executive Committee, testified before the House Small Business Committee on July 22 and offered specific changes that would ease small business tax burdens and stressed to committee members that timely communication with the IRS is imperative to small business taxpayers and their tax preparers
AICPA Insights Blog
AICPA TV
Cyber Security and the Accounting Profession.
Sue Coffey, CPA, CGMA, Executive Vice President - Public Practice, AICPA
Amy Pawlicki, Directtor - Business Reporting, Assurance & Advisory Services - AICPA
Media Relations Team
Jay Hyde
Senior Director - Media Relations (DC)
(202) 434-9266
Jay.Hyde@aicpa-cima.com
Contact Jay for inquiries related to auditing and advocacy (congressional and regulatory matters).
Gil Nielsen
Director - Media Relations (NY)
(212) 596-6008
Gilbert.Nielsen@aicpa-cima.com
Contact Gil for general inquiries.
Shirley Twillman
Senior Manager - Media Relations
(202) 434-9220
Shirley.Twillman@aicpa-cima.com
Contact Shirley for inquiries related to tax issues.
James Schiavone
Senior Manager - Public Relations
(212) 596-6119
James.Schiavone@aicpa-cima.com
Contact James for inquiries related to the CPA Exam, accounting education and careers, personal financial planning and financial literacy.
Jeff May
Lead Manager - Media Relations
(212) 596-6122
Jeffrey.May@aicpa-cima.com
Contact Jeff for inquiries related to CPA.com, accounting technology, practice management and AICPA products.
Colette Sharbaugh
Senior Manager - CGMA Communications and Public Relations
(202) 434-9212
Colette.Sharbaugh@aicpa-cima.com
Contact Colette for inquiries related to the CGMA designation and
management accounting.
Jonathan Lynch
Manager - Public Relations
(212) 596-6033
Jonathan.Lynch@aicpa-cima.com
Contact Jonathan for inquiries related to financial literacy and personal financial planning.
Jackie Hyland
Manager - Public Relations
(919) 490 - 4387
Jackie.Hyland@aicpa-cima.com
Contact Jackie for inquiries related to accounting and auditing issues.
Brian Simpson
Manager - Public Relations
(919) 402 - 4641
Brian.Simpson@aicpa-cima.com
Contact Brian for inquiries related to fraud, forensics and business valuations.
**For all other media inquiries, any member of the team will be happy to assist you.**
