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Getting the Most Out of What You’ve Got: How to Make Your Money Last for Life – and Beyond

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"In Retire Secure!, CPA and estate planning attorney Jim Lange provides a road-map for tax-efficient retirement and estate planning. This is an invaluable resource for investors and planners alike."


–Charles Schwab


 

 

The Faculty-Advisor.com Team

 James Lange, JD, CPA
jim@faculty-advisor.com

Profile

James Lange is the Principal of James Lange & Associates.

Professional Licenses

  • Certified Public Accountant, July 1979
  • Attorney at Law, November 1984

Professional Experience

20 years, including:

  • 12 years - Owner/Principal of James Lange & Associates
  • Buchanan Ingersoll
  • Arthur Andersen
  • Other local CPA and law firms
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    Published Author

    • "IRAs after the TRA '97: What Hath Congress Roth," The Tax Adviser, May 1998. Perhaps the most important article of the year published in the most prestigious peer review journal for CPAs in the country. The article discusses the benefits of Roth IRAs, Roth IRA conversions, and retirement and estate planning techniques that will signficantly increase family wealth.
    • "Retirement Planning with Roth IRAs Integrating Roth IRA Conversions and Estate Planning," Tax Advisor Direct, June 1998 (publication forthcoming.)  Wrote two chapters in the American Institute of Certified Public Accountant's home study CPE program.  The home study program allows Certified Pulic Accountants to earn continuing professional education credits required by all 50 State Boards of Accountancy.
    • "Maximizing IRA Benefits," Financial Planning, September 1997. Many Americans have accumulated signficant retirement accumulations. Now what? An important analysis of the steps that many individuals who are approaching retirement or have already retired should take regarding their IRAs and retirement plans.
    • "1996 Tax Reform Legislation: An Overview" Pittsburgh Legal Journal, October 1996. Major tax legislation passed in 1996 created opportunities for the accumulation of wealth and reduction of taxes. This article pointed out planning opportunities for many taxpayers.
    • "Spreading the Wealth," Financial Planning, September 1995. An analysis of the benefits which result from naming children and grandchildren as beneficiaries to retirement plans. The article was also the first major publication of the now popular "double disclaimer" technique of estate planning where the surviving spouse is given maximum flexibility to save estate taxes at the first death.
    • "Capital Gains Reduction with Gallenstein," Pennsylvania Bar News, December 1994. An in-depth analysis of the intricacies of the step-up-in-basis rules which provides heirs with the opportunity to avoid capital gains taxes.
    • Four other articles regarding taxes and business valuations published by the Pittsburgh Legal Journal and National Association of Certified Valuation Analysts’ nationally distributed magazine, The Valuation Examiner.

    Public Speaking

    Seminars:

    • Featured speaker at 14 seminars sponsored by the Pennsylvania Association for Continuing Education. The two-hour seminars entitled "Maximizing Retirement Benefits After The Taxpayer Relief Act of 1997" were presented between October 1997 and February 1998. The seminars focused on the following primary topics: (1) methods to accumulate wealth through retirement plan contributions, (2) Roth IRA conversions, and (3) methods of tax reduction through sophisticated retirement plan and IRA beneficiary designations. The following summarizes the cumulative evaluations received:

    Evaluation Results from Pittsburgh and Philadelphia Seminar Participants

  • Featured speaker at a seminar sponsored by Smith Barney Shearson, Inc. on September 18, 1995. Topic: financial and estate planning for individuals with significant retirement plans.
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  • Featured speaker at a seminar sponsored by WEB Network of Benefit Professionals on December 16, 1995. Topic: qualified retirement plan distributions.
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  • Featured speaker at a seminar sponsored by Pittsburgh Life Underwriters Association on February 8, 1996. Topic: optimization of qualified retirment plans and IRAs and the use of second-to-die life insurance.
    •
  • Featured speaker at a seminar sponsored by Lincoln Financial Advisors Corporation on January 20, 1998. Topic: use of sophisticated IRA beneficiary designations.
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    Television

  • Pittsburgh’s WQEX, Channel 16, "Cullen & Devlin Show," for an hour-long discussion about tax avoidance, tax evasion, and legal penalties for noncompliance.
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  • Pittsburgh’s WQEX, Channel 16, "Agewise," on April 3, 1996, with hostess Eleanor Schano for a half-hour long discussion about financial, retirement, and estate planning and tax issues.
    •

    Radio

    • Guest on the two-hour "The Steve Kelb Show," WBVP 1230 AM radio talk show hosted by Steve Kelb on September 19, 1996. Discussed tax and financial planning strategies.
    • Guest on the one-hour "Your Money, Your Estate," WIXZ 1360 AM radio talk show hosted by Timothy Wojton on March 27, 1995. Discussed income tax and estate planning issues.

    Web Site and Software Development

    Web Site Operator

    Web Site Awards

    • Harcourt Brace Professional Publishing awarded my web site, http://www.faculty-advisor.com, as a Top Five Accounting Web Site. Harcourt Brace--a large, professional textbook publishing company--awards web sites for their outstanding original writings and high-quality graphical presentation of the material.
    • CyberAttorney SM awarded http://www.litigation-support.com as "Best of the Net." Awards are granted based on original content, technological features, and quality of organization.

    Software Development

    • Program: "Money for Life" -- Spreadsheet-based program that forecasts different financial positions based on a variety of current decisions. Used internally to aid in Roth IRA conversion, retirement, gifting, and estate planning decisions. Allows almost limitless input possibilities and "what if" scenarios. The same software was utilized to develop models for the Roth IRA and Roth IRA analysis found in the peer reviewed article for The Tax Adviser. The program and results were submitted for peer review. Although the American Institute of Certified Public Accountants does not endorse any software, all of the analysis results were deemed correct.
    • Topic: "Significance of Rent vs. Buy," Cover of the Real Estate Section, The Pittsburgh Post-Gazette, October 1994. Article describes software developed by James Lange to analyze whether purchasing a house or renting is a better decision after considering all measurable factors. Surprising conclusion favors renting in many, if not most, situations.

    Education

    • Pennsylvania State University, Bachelor of Science-Accounting, 1977
    • Duquesne University School of Law, Juris Doctor, Top Fifth of Class, 1984

    Professional Affiliations

    • American Bar Association
    • Pennsylvania Bar Association
    • Pennsylvania Institute of Certified Public Accountants
    • The Institute of Business Appraisers
    • Allegheny County Bar Association
    • The Estate Planning Council of Pittsburgh