Rising interest rates may cause bond values to go down and it may be the time to make changes to bond portfolios. Bob Keebler CPA/PFS and Mark Fichtenbaum CPA review:

Options for a bond that has a coupon that is less than market.
How to avoid the wash sale rules when selling a bond.
Tax implications of selling a bond at a loss.
The three types of bonds and how the income from each is taxed for federal, state, and local levels.
Definition of a triple exempt bond.
Definition of original issue discount and original issue premium and how this impacts taxation of bond income.
Three action items when there is a large bond portfolio.

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This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

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Tax planning for bonds {PFP Section}

AICPA Personal Financial Planning (PFP)