Acronyms

ABLE

achieving a better life experience. 251, 871

ACH

automated clearing house. 65, 66

ACTC

additional child tax credit. 99

ACY

approximate compound yield. 408

ADL

activity of daily living. 727, 735

AEOB

advanced explanation of benefits. 715, 716

AFR

applicable federal rate. 236, 610, 612, 624, 864, 874, 893, 894

AGB

amounts generally billed. 716

AGI

adjusted gross income. 89, 95, 98, 125, 138, 140, 141, 143, 162, 170, 175, 207, 211, 213, 228, 234, 261, 264, 294, 353, 531, 621–623, 661, 724, 729, 765–767, 773, 774, 776, 787, 796, 800, 802, 805, 807, 808, 818, 823, 826, 832, 867, 920

AIME

average indexed monthly earnings. 780, 781

AMI

area median income. 518, 629

AMT

alternative minimum tax. 104, 107, 136, 138, 143, 145, 155, 173, 190, 192, 195, 303, 346, 347, 434

AOTC

American Opportunity Tax Credit. 113, 162, 291, 295

APY

annual percentage yield. 44

ARM

adjustable-rate mortgage. 360, 625, 670

AUM

assets under management. 448, 628

AUR

automated underreporter. 179

BAPCPA

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. 115, 255, 757, 759, 762, 817

BEA

bureau of economic analysis. 311, 313, 314

BLS

bureau of labor statistics. 6, 310, 313, 314, 512, 587, 783

BOE

business overhead expense. 735, 750, 755, 756

BOP

business owner’s policy. 750, 753

BSA

Bank Secrecy Act. 78

C-CPI-U

chained consumer price index for all urban consumers. 314

CAGR

compound annual growth rate. 40, 324, 364, 388, 432, 472

CAL

capital allocation line. 335, 336

CAPE

cyclically adjusted price-to-earnings ratio. 415

CAPM

capital asset pricing model. 371, 372, 410

CBO

congressional budget office. 627

CD

certificate of deposit. 28, 72, 92, 124, 128, 129, 163, 172, 253, 300, 339, 398, 437

CDC

centers for disease control and prevention. 692

CDFI

community development financial institution. 244

CDI

California Department of Insurance. 713

CFAA

Computer Fraud and Abuse Act. 912

CFPB

consumer financial protection bureau. 63, 65, 617, 631, 632, 634, 660, 679, 680

CFTC

commodity futures trading commission. 189, 491, 503

CGL

commercial general liability. 750, 752

CIT

collective investment trust. 375

CLAT

charitable lead annuity trust. 869

CLT

charitable lead trust. 855, 881

CLUT

charitable lead unitrust. 869

CMS

centers for medicare & medicaid services. 713, 715, 818

COBRA

consolidated omnibus budget reconciliation act. 711, 721, 796, 834, 836

CoC

Cash-on-Cash. 519, 521

COI

cost of insurance. 695–699, 702

COLA

cost of living adjustment. 284, 285, 314

CPA

certified public accountant. 180, 852, 853

CPI

consumer price index. 29, 36, 145, 310, 362, 530, 728, 744, 758

CPI-U

consumer price index for all urban consumers. 37, 38, 314, 431

CPI-W

consumer price index for urban wage earners and clerical workers. 38, 314, 783

CRAT

charitable remainder annuity trust. 791, 866

CRT

charitable remainder trust. 790, 838, 840, 851, 855, 862, 869

CRUT

charitable remainder unitrust. 791, 866, 868

CSRS

civil service retirement system. 758

CTC

child tax credit. 99

CTR

currency transaction report. 78

CU

credit union. 73

CUSIP

committee on uniform securities identification procedures. 306

CVaR

conditional value at risk. 330

CVLI

cash value life insurance. 604

D/E

debt-to-equity ratio. 361, 408

DAF

donor advised fund. 175, 211, 441, 442, 766, 767, 770, 773–775, 805

DAPT

domestic asset protection trust. 756, 757, 761, 762, 795, 838, 840, 851, 855, 858, 862, 870

DCA

dollar-cost averaging. 339, 385, 387

DCF

discounted cash flow. 35, 47, 415

DCFSA

dependent-care flexible spending account. 161, 162, 288

DMHC

California Department of Managed Health Care. 713

DPC

direct primary care. 710, 714, 721, 722

DPI

distributed to paid-in capital. 584

DRIP

dividend reinvestment plan. 85, 92, 407

DSCR

debt service coverage ratio. 517, 518

DST

Delaware statutory trust. 547, 550–552, 577

DTI

debt-to-income. 516, 600, 627, 652, 654, 662, 679

DVA

Department of Veterans Affairs. 916

ECA

extraordinary collection action. 716, 717

EDB

eligible designated beneficiary. 918, 920

EDGAR

electronic data gathering, analysis, and retrieval. 276, 409, 452

EFTA

electronic fund transfer act. 66, 81

EIN

employer identification number. 203, 221, 227, 257, 432, 854, 859, 916

EITC

earned income tax credit. 98

EOT

employee ownership trust. 244

EPO

exclusive provider organization. 710, 711

EPS

earnings per share. 407, 415

ERISA

employee retirement income security act. 75, 106, 242–244, 255, 271, 278, 375, 711, 713, 747, 750, 754, 756–758, 762, 821, 824, 829, 835

ESBT

electing small business trust. 217, 892

ESOP

employee stock ownership plan. 106, 241–246, 407

ESPP

employee stock purchase plan. 105, 177, 178, 194, 195

ETC

Exchange-traded Commodity. 450

ETF

Exchange-traded Fund. 72, 84, 85, 164, 166, 184, 187, 196, 257, 300, 304, 305, 343–345, 347, 382, 384, 385, 390, 400–402, 405, 406, 425, 426, 442, 444, 448, 457, 461, 469, 472, 483, 486–488, 500, 502, 599, 601, 639, 696, 709, 763, 909, 910, 912, 918

ETN

Exchange-traded Note. 304, 305, 444, 447–449

ETP

Exchange-traded Product. 444, 600

EV

electric vehicle. 618, 619

FAFSA

free application for federal student aid. 71

Fannie Mae

federal national mortgage association. 626, 627, 652, 675

FAP

financial assistance policy. 716, 717

FATCA

foreign account tax compliance act. 79, 160, 573, 606, 893

FBAR

foreign bank account report. 79, 161, 573, 606, 701, 761, 763, 820, 835, 893, 911

FCBA

fair credit billing act. 66, 81, 82

FCF

free cash flow. 408, 413

FCRA

fair credit reporting act. 510

FDIC

federal deposit insurance corporation. 63, 72, 73, 76, 77, 81, 120, 301, 437, 709, 817

FERS

federal employees retirement system. 283, 758, 829

FFEL

federal family education loan. 623

FHA

federal housing administration. 199, 515, 523, 524, 625, 628, 634, 661, 669–671, 675, 681

FHFA

federal housing finance agency. 517, 626, 627, 661

FICA

federal insurance contributions act. 122, 162, 170, 210, 235, 736, 742, 780, 830

FinCEN

financial crimes enforcement network. 78, 160, 229, 559, 573, 606, 761, 861, 911

FINRA

financial industry regulatory authority. 63, 300, 307, 393, 403, 439, 460, 601, 816, 914

FIRPTA

foreign investment in real property tax act. 559–562, 909

FLSA

fair labor standards act. 97, 111

FMV

fair market value. 101, 190–194, 215, 559, 560, 767, 769

FPL

federal poverty level. 717

Freddie Mac

federal home loan mortgage corporation. 626, 627, 652, 675

FSA

flexible spending account. 95, 127, 159, 161, 250, 590, 711, 719, 726, 826

FTC

federal trade commission. 66, 160, 557, 570, 571, 760

FV

future value. 41, 793

GDP

gross domestic product. 46, 310–312, 413

GFE

good faith estimate. 714, 716

GIC

Massachusetts Group Insurance Commission. 733

GILTI

global intangible low-taxed income. 572, 573

GPO

government pension offset. 284, 784

GRAT

grantor retained annuity trust. 639, 640, 835, 837–840, 851, 855, 862, 863, 865, 872, 874, 881, 884, 904

GST

generation-skipping trust. 838, 840, 842, 851, 853, 854, 864, 869, 873, 874, 877, 879, 884, 890, 891

GSTT

generation-skipping transfer tax. 132, 294, 880

HAF

homeowner assistance fund. 525, 629

HCAI

California Department of Health Care Access and Information. 717

HCE

highly compensated employee. 271

HDHP

high-deductible health plan. 126, 250, 286, 287, 664, 689, 710, 712, 715, 718

HEA

home equity agreement. 632

HECM

home equity conversion mortgage. 633, 634

HEL

home equity loan. 515, 629

HELOC

home equity line of credit. 28, 33, 83, 120, 137, 360, 515, 600, 629–631, 634, 636–638, 649, 656, 657, 670, 679

HMO

health maintenance organizations. 710, 711, 719, 725, 727

HNOA

hired and non-owned auto. 754

HOA

homeowners association. 126, 223, 521, 526, 540, 541, 557, 629, 653

HSA

health savings account. 25, 27, 75, 121, 127, 132, 146, 159, 201, 234, 249, 250, 263, 264, 280, 286, 350, 377, 387, 603, 623, 637, 639, 664, 689, 710, 718, 722, 724, 726, 729, 779, 790, 794, 796, 799, 800, 811, 818, 824, 826, 830, 848, 851, 854

IBR

income-based repayment. 620, 621, 623

IDGT

intentionally defective grantor trust. 640, 835, 837–840, 851, 855, 858, 863, 873, 874, 881, 884, 889, 903

IDR

income-driven repayment. 620–624

ILIT

irrevocable life insurance trust. 33, 604, 639, 641, 691, 695, 696, 700, 706, 761, 795, 836, 838–840, 851, 852, 855, 862, 880, 905, 906, 910

ILPA

institutional limited partners association. 579

ING

incomplete gift non-grantor trust. 888

IOU

I owe you. 303

IPO

initial public offering. 102, 105, 108, 302, 306, 439, 461, 578, 580, 583, 594, 605, 770

IRA

individual retirement arrangements. 1, 17, 25, 28, 55, 74–77, 84–86, 90, 93, 105, 112, 136, 137, 142, 144, 146, 159, 168, 170, 184, 188, 197, 198, 216, 234, 238, 249, 251, 254, 256–259, 261–264, 273–275, 277–279, 281, 292, 305, 338, 345, 346, 350, 376, 380, 386, 389, 390, 406, 424, 431, 435, 442, 455, 490, 504, 578, 586, 597, 603, 606, 637, 640, 665, 707, 709, 723, 724, 747, 756–759, 762, 771, 774, 775, 779, 786, 790, 794–796, 800–803, 805, 806, 810, 813, 814, 817, 818, 821, 824, 825, 829, 831, 848, 850, 851, 868, 917–919

IRC

internal revenue code. 3, 4, 10, 11, 16, 17, 32, 60, 69–71, 73–75, 79, 89–102, 104–110, 112–114, 117, 121, 122, 124, 125, 131–137, 139–141, 143, 146, 153, 160–163, 166–170, 172, 173, 177, 179–181, 184–192, 194, 196–200, 202, 204–213, 215–226, 228–243, 245–247, 254, 255, 257–262, 264–268, 270–273, 275–283, 285–287, 289–292, 294–297, 303–305, 314, 346, 347, 349, 350, 374, 381, 389, 390, 404–407, 424–428, 431–435, 438, 440, 441, 443, 444, 448, 450–457, 469–471, 476, 477, 481, 482, 486, 488–491, 497, 498, 502–506, 528, 531–534, 536–540, 542–551, 557, 558, 560–565, 567, 570–572, 574, 578, 581, 582, 586, 588, 590–592, 596, 597, 599, 604, 606, 609–612, 622, 624, 636, 637, 639, 640, 645, 661, 664, 665, 670, 672–674, 676, 677, 681, 684–686, 695–702, 705–707, 709, 711, 713, 716–718, 727, 729, 730, 735, 737, 741, 747, 755, 757, 766–772, 774–777, 780, 786–790, 796, 800, 802–808, 810, 811, 813, 815, 820, 821, 823–826, 829–835, 839, 848–850, 852, 854, 856–869, 871–885, 888, 890–893, 895–911, 916–919, 921

IRMAA

income-related monthly adjustment amount. 95, 124, 347, 432, 665, 690, 708, 711, 719, 722–724, 774, 779, 787, 790, 796, 799–803, 805–808, 810, 811, 818, 836, 904, 920

IRR

internal rate of return. 6–8, 10, 35, 48, 171, 208, 519, 583, 584, 595, 697, 698

IRS

internal revenue service. 1, 24, 60, 66, 67, 71, 79, 82, 90–93, 96, 98, 100, 111, 112, 115, 132–138, 140, 146–149, 151, 152, 155, 157, 159, 161, 164, 166, 168, 169, 173, 175–181, 183, 185, 187–190, 192, 194–200, 203–209, 212–217, 219, 220, 224, 227, 229, 232, 235–239, 245, 246, 255, 257, 258, 262, 263, 268, 270, 271, 275, 280, 288–290, 390, 404, 432, 448, 453, 455, 470, 477, 510, 515, 528, 530, 532–536, 539, 540, 542, 543, 545, 547, 550, 554, 559–561, 564–573, 575, 581, 588, 590, 592, 604, 607, 610, 625, 629, 633, 636, 637, 640, 646, 668, 669, 672–675, 681, 700–702, 706, 711, 717, 718, 723, 732, 735, 759, 765, 767, 768, 770–772, 777, 787, 795, 801, 803, 805, 818, 819, 822, 823, 826, 832, 834, 838, 839, 847, 849, 865, 872, 883, 896, 898, 901

ISDA

international swaps and derivatives association. 502

ISO

incentive stock options. 103, 104, 107, 144, 145, 178, 190–192, 194, 195, 434, 743

IUL

indexed universal life. 604, 695, 698

JTWROS

joint tenancy with right of survivorship. 69, 825, 900

LEAPS

long-term equity anticipation securities. 459, 470, 481

LLC

limited liability company. 1, 128, 169, 204, 206, 208, 214, 216, 217, 219–222, 224–228, 230, 247, 277, 509, 516, 528, 543, 546, 557–559, 564–566, 571, 573, 588, 596, 679, 690, 747, 750, 754, 756, 760–762, 770, 803, 815, 838, 840, 845, 853, 876, 907

LLTC

Lifetime Learning Tax Credit. 114, 291, 295

LP

limited partnership. 126, 184, 277, 581–583, 586, 594–597

LPFSA

Limited-purpose Flexible Spending Account. 161, 288, 719, 726, 727

LTCG

long-term capital gain. 164, 165, 169–172, 477, 623, 724, 790, 800, 804–807, 818

LTV

loan-to-value. 627, 635, 660, 662, 676, 679, 683

MACRS

modified accelerated cost recovery system. 205, 207, 530–533, 535

MAGI

modified adjusted gross income. 95, 96, 109, 143, 164, 182, 195, 201, 232, 233, 261, 266, 432, 433, 539, 542, 624, 645, 665, 672, 673, 711, 723–725, 796, 800, 802, 805–808, 823, 825

MAPT

Medicaid asset protection trust. 871

MBS

mortgage-backed securities. 341, 434, 626, 627

MEC

modified endowment contract. 604, 695, 701

MedFSA

medical flexible spending account. 161, 288, 726, 727

MF

mutual fund. 300, 303

MFA

multi-factor authentication. 64

MLP

master limited partnership. 178, 182–184, 305, 426, 453, 795

MMA

money market account. 437

MMF

money market fund. 119, 120, 123–126, 128, 311, 339

MOIC

multiple on invested capital. 584

MPT

modern portfolio theory. 335, 367–371

MSRB

municipal securities rulemaking board. 300, 432

MSRP

manufacturer’s suggested retail price. 619

MWR

money-weighted return. 332

NACUBO

National Association of College and University Business Officers. 293

NAR

national association of realtors. 540, 656, 668, 686, 687

NAREIT

national association of real estate investment trusts. 339

NAV

net asset value. 437, 439, 444, 445, 581

NBER

national bureau of economic research. 310

NCHS

national center for health statistics. 690

NCUA

national credit union administration. 63, 72, 73, 437, 618

NFA

national futures association. 491

NFIP

national flood insurance program. 748

NIIT

net investment income tax. 17, 30, 92, 95, 112, 117, 123, 133, 140, 142, 153, 164, 166, 172, 175, 187, 188, 190, 194, 195, 197, 217, 220, 230, 235, 240, 390, 405, 425, 427, 433, 449, 452, 456, 461, 477, 481, 489, 539, 549, 562, 570, 572, 623, 640, 654, 665, 674, 684, 770, 772, 790, 794, 800–802, 806–808, 823, 831, 832, 891

NIMCRUT

net income with makeup charitable remainder unitrust. 866

NOI

net operating income. 517, 519, 520, 528

NPC

net present cost. 618

NPV

net present value. 47, 48, 646, 666

NSA

No Surprises Act. 713

NSO

Non-qualified Stock Options. 103, 105, 107, 190, 192–194

NUA

net unrealized appreciation. 796, 818

OBBBA

one big beautiful bill act (public law 119-21). 32, 91, 95, 127, 143–145, 161–163, 168, 171, 175, 195, 199–201, 205, 206, 208, 211, 213, 229, 230, 232, 238, 251, 288, 290, 304, 314, 350, 433, 434, 452, 456, 528, 534, 539, 562, 582, 583, 604, 611, 620–622, 637, 645, 654, 661, 672–674, 692, 706, 711, 767, 790, 795, 800, 804, 820, 846, 867, 879, 897

OCC

options clearing corporation. 460, 462, 505

OID

original issue discount. 431, 435, 448

P/E

price-to-earnings ratio. 407, 415

PBGC

Pension Benefit Guaranty Corporation. 238, 273

PCE

personal consumption expenditures. 30, 37, 38, 117, 310, 314

PFIC

passive foreign investment company. 423, 424, 443, 572, 590, 701, 909, 911

PIA

primary insurance amount. 780

PIN

personal identification number. 65

PITI

principal, interest, taxes, insurance. 529, 627, 653, 662

PME

public market equivalent. 582, 584

PMI

private mortgage insurance. 199, 626, 643, 653, 655, 659, 662, 664, 675, 679

PMPT

post-modern portfolio theory. 367, 369–371

POD

payable upon death. 837, 848, 910, 917

PPI

producer price index. 310, 535

PPLI

private placement life insurance. 699–701, 707, 838

PPO

preferred provider organization. 710, 711, 719, 725

PSLF

public service loan forgiveness. 620–624

PTE

post-termination exercise. 103

PV

present value. 5, 41, 47, 48, 360

QBI

qualified business income. 91, 205, 224, 229, 456, 528, 558, 570, 725

QCD

qualified charitable distributions. 255, 724, 774, 775, 787, 790, 796, 802, 805, 811, 818

QDIA

qualified default investment alternative. 374

QDOT

qualified domestic trust. 840, 853, 877

QDRO

qualified domestic relations order. 829

QLAC

qualified longevity annuity contract. 787

QM

qualified mortgage. 679

QPA

qualifying payment amount. 713

QPRT

qualified personal residence trust. 838, 839, 851, 855, 874, 875, 900

QSBS

qualified small business stock. 107, 131, 194, 219–221, 230, 578, 590–592, 596, 597, 832

QSST

qualified subchapter S trust. 217, 892

QTIP

qualified terminable interest property. 840, 876

RAP

repayment assistance plan. 127, 620–623

REIT

real estate investment trust. 29, 223, 249, 262, 266, 277, 304, 331, 337, 339, 344–346, 349, 366, 377, 381, 382, 384, 398, 426, 451, 502, 511, 526, 527, 529, 551, 552, 572, 577, 725, 791, 795

REO

real estate owned. 510

repo

repurchase agreement. 437, 498

RIC

regulated investment company. 223, 426, 438, 439, 444, 497, 502

RILA

registered index-linked annuity. 707, 789

RLT

revocable living trust. 837, 849

RMD

required minimum distribution. 75, 143, 256, 259, 263–265, 350, 665, 709, 724, 775, 786–788, 793, 794, 797, 800–806, 810, 812, 818, 850, 904, 917, 919

ROE

return on equity. 60, 408

ROI

return on investments. 512, 514, 519, 538

ROIC

return on invested capital. 408

RSA

restricted stock award. 101

RSU

restricted stock unit. 18, 21, 90, 101, 105, 107, 124, 125, 149, 150, 153, 156, 159, 167, 176, 178, 194, 195, 254, 301, 312, 357, 461, 477, 649, 680, 690, 735, 740

RUFADAA

Revised Uniform Fiduciary Access to Digital Assets Act. 838, 847, 912, 913

SAA

shared appreciation agreement. 632

SAFE

simple agreement for future equity. 221, 231, 587–592

SAI

student aid index. 71, 291, 293

SALT

state and local taxes. 80, 95, 125, 142, 144, 200, 201, 211, 213, 232, 245, 247, 433, 645, 672, 673, 766, 823

SAR

stock appreciation rights. 105

SBLOC

securities-backed line of credit. 28, 33, 120, 121, 126, 127, 599, 601, 621, 633, 634, 636–638, 640, 641, 655, 679, 725, 807, 808, 818

SDI

state disability insurance. 16, 24, 60, 154, 654, 732, 733, 738, 739

SDIRA

self-directed IRA. 197, 275, 276

SEC

securities and exchange commission. 63, 74, 80, 87, 123, 208, 276, 300, 306, 376, 393, 401, 402, 405, 409, 424, 442, 460, 503, 505, 507, 579, 595, 601, 815

SEPP

substantially equal periodic payments. 265

SIPC

securities investor protection corporation. 74, 84, 86, 301, 405, 817

SLAT

spousal lifetime access trust. 761, 762, 795, 820, 835, 837, 838, 840, 851, 855, 889, 904

SMA

separately managed account. 440

SOFR

secured overnight financing rate. 311, 403, 501, 599, 602, 605, 624, 670, 807

SPT

stochastic portfolio theory. 367, 371

SRO

self-regulatory organization. 300

SSA

social security administration. 66, 682, 724, 737, 780, 796, 826, 835, 904, 915

SSDI

social security disability insurance. 732, 733, 736, 737, 740

SSI

supplemental security income. 736, 862, 871, 891

SSN

social security number. 64, 65, 84, 162, 227, 432, 680

SSNRA

social security normal retirement age. 733

STRIPS

separate trading of registered interest and principal of securities. 123, 396, 435

SWR

safe withdrawal rate. 50, 52, 373, 779, 780

TBE

tenancy by the entirety. 759, 762, 795

TCJA

tax cuts and jobs act. 108, 122, 144, 145, 168, 170, 195, 199, 201, 205, 206, 233, 314, 415, 434, 452, 534, 536, 549, 647, 672, 673, 725, 766, 767, 790, 800, 802, 828

TDF

target date fund. 373, 378

TIN

taxpayer identification number. 112, 162, 203

TIPS

treasury inflation-protected securities. 29, 37, 38, 92, 147, 173, 303, 310, 314, 316, 317, 339, 347, 353, 355, 374, 383, 384, 398, 431, 435, 793

TPA

third-party administrator. 238, 245, 271, 273, 274

TRS

total return swap. 502

TSP

thrift savings plan. 283

TVPI

total value to paid-in capital. 584

TWAP

time-weighted average price. 402

TWR

time-weighted return. 332, 584

UBTI

unrelated business taxable income. 184, 197, 216, 223, 275–277, 305, 455, 504, 578, 586, 795, 867

UCC

uniform commercial code. 79

UDFI

unrelated debt-financed income. 197, 276, 278, 504, 586, 803

UFIPA

uniform fiduciary income and principal act. 850

UGMA

Uniform Gifts to Minors Act. 292

UPC

uniform probate code. 847

USDA

U.S. department of agriculture. 199, 515, 626, 628, 670, 681

USRPHC

U.S. real property holding corporation. 560

USRPI

U.S. real property interest. 559–561

UTC

Uniform Trust Code. 850

UTMA

Uniform Transfers to Minors Act. 281, 292, 837, 844

UVTA

Uniform Voidable Transactions Act. 761

VA

veterans affairs. 515, 523, 623, 625, 628, 660, 669, 670, 675, 681, 708, 709, 758

VaR

value at risk. 330

VC

venture capital. 126, 217, 586, 587, 592–594, 596

VUL

variable universal life. 604, 696, 698

VWAP

volume-weighted average price. 402

WACC

weighted average cost of capital. 413, 414

WEP

windfall elimination provision. 284, 784

WL

whole life insurance. 604, 695

YTM

yield to maturity. 430