Social Security for CPAs: Why the 2025 Rule Changes Rewrite Old Strategies
In 1983, Congress rewired Social Security to survive another generation. Among other shifts, that law set a slow-motion rise in the Full Retirement Age that would not fully hit until those born in 1960 reached their sixties. The last decade brought more change. Popular maneuvers like file-and-suspend and restricted applications faded into the history books, […]
Maximizing Tax Efficiency with CPA Retirement Plans
It’s December, and you realize you’ll owe a hefty sum to the IRS. Instead of writing that check to Uncle Sam, what if you could funnel a big chunk of that money into your own retirement savings and get a tax break for doing so? The final quarter is a critical window for CPAs who […]
When to Use Private Placement Life Insurance
High income and successful business growth come with a catch: greater exposure to taxes, market volatility, and estate planning challenges. In an era of rising tax uncertainty and longer lifespans, even financially savvy professionals can feel overwhelmed by how to shield wealth from taxes while securing a comfortable retirement. The good news is that there […]
Private Foundations vs. Donor-Advised Funds: Which Structure Fits Your CPA Legacy?
Over decades of building your CPA practice, you’ve focused on balance sheets and bottom lines. But as retirement approaches, a new question looms: how will you balance giving back with winding down? In other words, what kind of legacy do you want to leave, and what’s the smartest way to do it? For many CPA […]
What Insurance Policies Should Go In Trusts?
Over your career as a CPA practice owner, you’ve likely built up a variety of financial assets – from retirement accounts to maybe a couple of insurance policies. As retirement approaches, it’s natural to wonder if you’ve structured everything optimally. One area that often flies under the radar is how your insurance policies are owned. […]
Does the One Big Beautiful Bill Affect Your CPA Retirement?
Imagine looking up from a busy tax season and discovering that Congress just passed a sweeping new tax law with the audacious name “One Big Beautiful Bill Act.” Signed into law over the July 4, 2025 weekend, this multitrillion-dollar package blends major tax cuts with spending changes to the social safety net1. As a CPA […]
When Should CPAs Claim Social Security? Part 2
In Part One, we established the foundational framework for Social Security claiming decisions: understanding how your claiming age affects benefits, analyzing break-even scenarios, evaluating personal health and longevity expectations, considering work status implications, and assessing immediate financial needs. These core factors create the analytical foundation every CPA needs before diving into more sophisticated optimization strategies. […]
When Should CPAs Claim Social Security? Part 1
One of the most pivotal questions you’ll face when planning your retirement will likely be: When should I start claiming my Social Security benefits? It’s a more complex decision than it might appear. Modern retirement planning has evolved: Americans are living longer, nest eggs often need to stretch further, and interest rates and markets fluctuate. […]
The Mega Backdoor Roth for CPA Practice Owners
Imagine it’s the late 1970s: on November 6, 1978, Congress quietly adds Section 401(k) to the tax code, unwittingly sparking a retirement savings revolution. A few years later, employees suddenly found they could contribute up to 25% of their salary (capped at $30,000) into these new plans – an unheard-of opportunity at the time. Fast […]
Protecting Intellectual Property in Family CPA Practices
Imagine it’s 1837 in Massachusetts. A chocolatier sells his family’s secret recipe to a buyer, only to later share that recipe with others, sparking one of America’s first legal battles over intellectual property. The case, Vickery v. Welch, proved that a business’s closely held know-how can have real value, even without a patent. Fast forward […]
