Acronyms

ABLE

achieving a better life experience. 249, 859

ACH

automated clearing house. 63, 64

ACTC

additional child tax credit. 97

ACY

approximate compound yield. 406

ADL

activity of daily living. 723, 731

AEOB

advanced explanation of benefits. 711, 712

AFR

applicable federal rate. 233, 234, 606, 608, 620, 852, 861, 881

AGB

amounts generally billed. 712

AGI

adjusted gross income. 87, 93, 96, 123, 136, 138, 139, 141, 159, 167, 171, 203, 207, 211, 226, 232, 259, 262, 292, 351, 527, 617–619, 657, 720, 725, 755–757, 763, 764, 766, 777, 786, 790, 792, 795, 797, 798, 806, 811, 814, 820, 855, 903

AIME

average indexed monthly earnings. 770, 771

AMI

area median income. 514, 625

AMT

alternative minimum tax. 102, 105, 134, 136, 141, 143, 152, 169, 187, 188, 191, 301, 344, 345, 430

AOTC

American Opportunity Tax Credit. 111, 289, 293

APY

annual percentage yield. 42

ARM

adjustable-rate mortgage. 358, 621, 666

AUM

assets under management. 444, 624

AUR

automated underreporter. 175

BAPCPA

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. 113, 253, 747–749, 751, 805

BEA

bureau of economic analysis. 309, 311, 312

BLS

bureau of labor statistics. 6, 308, 311, 312, 508, 583, 773

BOE

business overhead expense. 731

BSA

Bank Secrecy Act. 76

C-CPI-U

chained consumer price index for all urban consumers. 312

CAGR

compound annual growth rate. 38, 322, 362, 386, 428, 468

CAL

capital allocation line. 333, 334

CAPE

cyclically adjusted price-to-earnings ratio. 413

CAPM

capital asset pricing model. 369, 370, 408

CBO

congressional budget office. 623

CD

certificate of deposit. 26, 70, 90, 122, 126, 127, 160, 168, 251, 298, 337, 396, 433

CDC

centers for disease control and prevention. 688

CDFI

community development financial institution. 242

CDI

California Department of Insurance. 709

CFAA

Computer Fraud and Abuse Act. 895

CFPB

consumer financial protection bureau. 61, 63, 613, 627, 628, 630, 656, 675, 676

CFTC

commodity futures trading commission. 186, 487, 499

CIT

collective investment trust. 373

CLAT

charitable lead annuity trust. 856

CLT

charitable lead trust. 843, 869

CLUT

charitable lead unitrust. 856

CMS

centers for medicare & medicaid services. 709, 711, 806

COBRA

consolidated omnibus budget reconciliation act. 707, 717, 786, 822, 824

CoC

Cash-on-Cash. 515, 517

COI

cost of insurance. 691–695, 697

COLA

cost of living adjustment. 282, 283, 312

CPA

certified public accountant. 176, 840

CPI

consumer price index. 27, 34, 143, 308, 360, 526, 724, 740, 748

CPI-U

consumer price index for all urban consumers. 35, 36, 312, 427

CPI-W

consumer price index for urban wage earners and clerical workers. 36, 312, 773

CRAT

charitable remainder annuity trust. 781, 853, 854

CRT

charitable remainder trust. 780, 826, 828, 839, 843, 849, 856

CRUT

charitable remainder unitrust. 781, 854, 856

CSRS

civil service retirement system. 748

CTC

child tax credit. 97

CTR

currency transaction report. 76

CU

credit union. 71

CUSIP

committee on uniform securities identification procedures. 304

CVaR

conditional value at risk. 328

CVLI

cash value life insurance. 600

D/E

debt-to-equity ratio. 359, 406

DAF

donor advised fund. 171, 207, 437, 438, 756, 757, 760, 763–765, 795

DAPT

domestic asset protection trust. 746, 750–752, 785, 826, 828, 839, 842, 843, 846, 849, 858

DCA

dollar-cost averaging. 337, 383, 385

DCF

discounted cash flow. 33, 45, 413

DCFSA

dependent-care flexible spending account. 158, 159, 286

DMHC

California Department of Managed Health Care. 709

DPC

direct primary care. 706, 710, 717, 718

DPI

distributed to paid-in capital. 580

DRIP

dividend reinvestment plan. 83, 90, 405

DSCR

debt service coverage ratio. 513, 514

DST

Delaware statutory trust. 543, 546–548, 573

DTI

debt-to-income. 512, 596, 623, 648, 650, 658, 675

DVA

Department of Veterans Affairs. 899

ECA

extraordinary collection action. 712, 713

EDB

eligible designated beneficiary. 901, 903

EDGAR

electronic data gathering, analysis, and retrieval. 274, 407, 448

EFTA

electronic fund transfer act. 64, 79

EIN

employer identification number. 200, 219, 225, 255, 428, 842, 847, 899

EITC

earned income tax credit. 96

EOT

employee ownership trust. 242

EPO

exclusive provider organization. 706, 707

EPS

earnings per share. 405, 413

ERISA

employee retirement income security act. 73, 104, 240–242, 253, 269, 276, 373, 707, 709, 743, 746, 747, 751, 809, 812, 817, 823

ESBT

electing small business trust. 215, 879

ESOP

employee stock ownership plan. 104, 239–242, 244, 405

ESPP

employee stock purchase plan. 103, 173, 174, 191

ETC

Exchange-traded Commodity. 445

ETF

Exchange-traded Fund. 70, 82, 83, 160, 162, 163, 180, 183, 193, 255, 298, 302, 303, 341–343, 345, 380, 382, 383, 388, 398–400, 403, 404, 423, 424, 438, 440, 444, 452, 457, 465, 468, 479, 482–484, 496, 498, 595, 597, 635, 692, 705, 752, 901

ETN

Exchange-traded Note. 302, 303, 440, 443–445

ETP

Exchange-traded Product. 440, 596

EV

electric vehicle. 614, 615

FAFSA

free application for federal student aid. 69

Fannie Mae

federal national mortgage association. 622, 623, 648, 671

FAP

financial assistance policy. 712, 713

FATCA

foreign account tax compliance act. 77, 158, 569, 602, 881

FBAR

foreign bank account report. 77, 158, 569, 602, 697, 751, 753, 808, 823, 881

FCBA

fair credit billing act. 64, 79, 80

FCF

free cash flow. 406, 411

FCRA

fair credit reporting act. 506

FDIC

federal deposit insurance corporation. 61, 70, 71, 74, 75, 79, 118, 299, 433, 705, 805

FERS

federal employees retirement system. 281, 748, 817

FFEL

federal family education loan. 619

FHA

federal housing administration. 196, 511, 519, 520, 621, 624, 630, 657, 665–667, 671, 678

FHFA

federal housing finance agency. 513, 622, 623, 657

FICA

federal insurance contributions act. 120, 166, 207, 233, 732, 738, 770, 818

FinCEN

financial crimes enforcement network. 76, 158, 227, 555, 569, 602, 751, 849

FINRA

financial industry regulatory authority. 61, 298, 305, 391, 401, 435, 456, 597, 897

FIRPTA

foreign investment in real property tax act. 555–558

FLSA

fair labor standards act. 95, 109

FMV

fair market value. 99, 187–190, 213, 555, 556, 757, 759

FPL

federal poverty level. 713

Freddie Mac

federal home loan mortgage corporation. 622, 623, 648, 671

FSA

flexible spending account. 93, 125, 157, 158, 248, 586, 707, 715, 722, 814

FTC

federal trade commission. 64, 157, 158, 553, 566, 567, 750

FV

future value. 39, 783

GDP

gross domestic product. 44, 308–310, 411

GFE

good faith estimate. 710, 712

GIC

Massachusetts Group Insurance Commission. 729

GILTI

global intangible low-taxed income. 568, 569

GPO

government pension offset. 282, 774

GRAT

grantor retained annuity trust. 635, 636, 823, 825–828, 839, 843, 849, 851, 852, 860, 861, 869, 871, 891

GST

generation-skipping trust. 826, 828, 830, 839, 841, 842, 852, 857, 861, 864–866, 871, 877, 879

GSTT

generation-skipping transfer tax. 130, 292, 867

HAF

homeowner assistance fund. 521, 625

HCAI

California Department of Health Care Access and Information. 713

HCE

highly compensated employee. 269

HDHP

high-deductible health plan. 124, 248, 284, 285, 660, 685, 706, 708, 711, 714

HEA

home equity agreement. 628

HECM

home equity conversion mortgage. 629, 630

HEL

home equity loan. 511, 625

HELOC

home equity line of credit. 26, 31, 81, 118, 135, 358, 511, 596, 625–627, 630, 632–634, 645, 652, 653, 666, 675

HMO

health maintenance organizations. 706, 707, 715, 721, 723

HOA

homeowners association. 124, 221, 517, 522, 536, 537, 553, 625, 649

HSA

health savings account. 23, 25, 73, 119, 125, 130, 144, 157, 197, 232, 247, 248, 261, 262, 278, 284, 348, 375, 385, 599, 619, 633, 635, 660, 685, 706, 714, 718, 720, 722, 725, 769, 780, 784, 786, 789, 790, 801, 806, 812, 814, 818, 836, 839, 841

IBR

income-based repayment. 616, 617, 619

IDGT

intentionally defective grantor trust. 636, 823, 825–828, 839, 843, 846, 851, 861, 869, 871, 877, 891

IDR

income-driven repayment. 616–620

ILIT

irrevocable life insurance trust. 31, 600, 635, 637, 687, 690–692, 696, 702, 751, 785, 824, 826–828, 839, 840, 843, 849, 850, 868, 892, 893

ILPA

institutional limited partners association. 575

ING

incomplete gift non-grantor trust. 876

IOU

I owe you. 301

IPO

initial public offering. 100, 103, 106, 300, 304, 435, 457, 574, 576, 579, 590, 601, 760

IRA

individual retirement arrangements. 1, 15, 23, 26, 53, 72–75, 82–84, 88, 91, 103, 110, 134, 135, 140, 142, 144, 157, 164–166, 180, 184, 194, 195, 214, 232, 236, 247, 249, 252, 254–257, 259–262, 271–273, 275–277, 279, 290, 303, 336, 343, 344, 348, 374, 378, 384, 387, 388, 404, 422, 427, 431, 438, 451, 486, 500, 574, 582, 593, 599, 602, 633, 636, 661, 703, 704, 719, 720, 743, 746–749, 751, 761, 764, 765, 769, 776, 780, 784–786, 790–793, 795, 796, 800, 803–806, 809, 812, 813, 817, 819, 835, 836, 838, 839, 856, 901, 902

IRC

internal revenue code. 3, 4, 14, 15, 30, 58, 67–69, 71–73, 77, 87–100, 102–108, 110–112, 115, 119, 120, 122, 123, 129–135, 137–139, 141, 144, 151, 157–159, 162–167, 169, 173–176, 178, 180–190, 192–196, 199–208, 211, 213–223, 226–245, 252, 253, 255–260, 262–266, 268–271, 273–281, 283–285, 287–290, 292–295, 301–303, 312, 344, 345, 347, 348, 372, 379, 387, 388, 402–405, 422–424, 427–431, 434, 436, 437, 439, 440, 444, 446–452, 465–467, 472, 473, 477, 478, 482–487, 493, 494, 498–502, 524, 527–530, 532–536, 538–547, 553, 554, 556–561, 563, 566–568, 570, 574, 577, 578, 582, 584, 586–588, 592, 593, 595, 600, 602, 605–608, 618, 620, 632, 633, 635, 636, 641, 657, 660, 661, 666, 668–670, 672, 673, 677, 680–682, 691–693, 695–698, 701–703, 705, 707, 709, 712–714, 723, 725, 726, 731, 733, 737, 743, 747, 756–762, 764–767, 770, 776–780, 786, 790, 792–798, 800, 801, 803, 808, 809, 811–814, 817–823, 827, 836–838, 840, 842, 844, 846–857, 859–872, 875, 877–882, 884–895, 899–902, 904

IRMAA

income-related monthly adjustment amount. 93, 122, 345, 428, 661, 686, 704, 707, 715, 718–720, 764, 769, 777, 780, 786, 789–793, 795–798, 800, 801, 806, 824, 891, 903

IRR

internal rate of return. 6–8, 33, 46, 168, 205, 515, 579, 580, 591, 693, 694

IRS

internal revenue service. 1, 22, 58, 64, 65, 69, 77, 80, 88–91, 94, 96, 98, 109, 110, 113, 130–136, 138, 144–147, 149, 150, 152, 155–157, 159, 160, 162–165, 169, 171, 173, 174, 176–179, 181, 183, 184, 186, 189, 190, 192, 193, 195–197, 199–203, 205, 206, 208, 211–215, 217, 218, 222, 225–227, 229, 230, 233–237, 243, 244, 253, 255, 256, 260, 261, 266, 268, 269, 273, 278, 286–288, 388, 402, 428, 444, 449, 451, 466, 473, 506, 511, 524, 526, 528–532, 535, 536, 538, 539, 541, 543, 546, 550, 555–557, 560–569, 571, 577, 584, 586, 588, 600, 603, 606, 621, 625, 629, 632, 633, 636, 642, 664, 665, 668–671, 677, 695, 697, 701, 707, 713, 714, 719, 728, 731, 749, 755, 757, 758, 760–762, 767, 777, 785, 791, 793, 795, 806, 807, 810, 811, 814, 820, 822, 826, 827, 835, 837, 853, 860, 870, 884, 885, 889

ISDA

international swaps and derivatives association. 498

ISO

incentive stock options. 101, 102, 105, 142, 143, 174, 187, 188, 191, 430, 739

IUL

indexed universal life. 600, 691, 694

JTWROS

joint tenancy with right of survivorship. 67, 813, 888

LEAPS

long-term equity anticipation securities. 455, 466, 477

LLC

limited liability company. 1, 126, 166, 200, 202, 204, 212, 214, 215, 217–221, 223–226, 228, 245, 275, 505, 512, 524, 539, 542, 553–555, 560–562, 567, 569, 584, 592, 675, 743, 746, 750–752, 760, 793, 826, 828, 840, 863, 894

LLTC

Lifetime Learning Tax Credit. 112, 289, 293

LP

limited partnership. 124, 181, 275, 577–579, 582, 590–593

LPFSA

Limited-purpose Flexible Spending Account. 159, 286, 715, 722, 723

LTCG

long-term capital gain. 160, 161, 165, 166, 168, 473, 619, 720, 780, 790, 794–797, 806

LTV

loan-to-value. 623, 631, 656, 658, 672, 675, 679

MACRS

modified accelerated cost recovery system. 201, 203, 526–529, 531

MAGI

modified adjusted gross income. 93, 94, 107, 141, 160, 178, 179, 191, 197, 230, 231, 259, 264, 428, 429, 535, 538, 620, 641, 661, 668, 669, 707, 719–721, 786, 790, 792, 795–798, 811, 813

MAPT

Medicaid asset protection trust. 859

MBS

mortgage-backed securities. 339, 430, 622, 623

MEC

modified endowment contract. 600, 691, 697

MedFSA

medical flexible spending account. 159, 286, 722, 723

MF

mutual fund. 298, 301

MFA

multi-factor authentication. 62

MLP

master limited partnership. 175, 179, 180, 303, 424, 449, 785

MMA

money market account. 433

MMF

money market fund. 117, 118, 121–124, 126, 309, 337

MOIC

multiple on invested capital. 580

MPT

modern portfolio theory. 333, 365–369

MSRB

municipal securities rulemaking board. 298, 428

MSRP

manufacturer’s suggested retail price. 615

MWR

money-weighted return. 330

NACUBO

National Association of College and University Business Officers. 291

NAR

national association of realtors. 536, 652, 664, 682, 683

NAREIT

national association of real estate investment trusts. 337

NAV

net asset value. 433, 435, 440, 441, 577

NBER

national bureau of economic research. 308

NCHS

national center for health statistics. 686

NCUA

national credit union administration. 61, 70, 71, 433, 614

NFA

national futures association. 487

NFIP

national flood insurance program. 744

NIIT

net investment income tax. 15, 28, 90, 93, 110, 115, 121, 131, 138, 140, 151, 160, 162, 168, 171, 183, 184, 186, 191, 193, 215, 217, 228, 233, 238, 388, 403, 423, 429, 445, 448, 451, 457, 473, 477, 485, 535, 545, 558, 566, 568, 619, 636, 650, 661, 670, 680, 760, 762, 780, 784, 790–792, 796–798, 811, 819, 820, 878, 879

NIMCRUT

net income with makeup charitable remainder unitrust. 854

NOI

net operating income. 513, 515, 516, 524

NPC

net present cost. 614

NPV

net present value. 45, 46, 642, 662

NSA

No Surprises Act. 709

NSO

Non-qualified Stock Options. 101, 103, 105, 187–189, 191

NUA

net unrealized appreciation. 786, 806

OBBBA

one big beautiful bill act (public law 119-21). 30, 89, 93, 125, 141–143, 159, 164, 167, 172, 191, 196, 197, 201, 202, 204, 205, 207, 211, 227, 228, 230, 235, 249, 286, 288, 302, 312, 348, 429, 430, 448, 451, 524, 530, 535, 558, 578, 579, 600, 607, 616–618, 633, 641, 650, 657, 668–670, 687, 702, 706, 707, 757, 780, 785, 790, 794, 808, 834, 855, 867, 885

OCC

options clearing corporation. 456, 458, 501

OID

original issue discount. 427, 431, 444

P/E

price-to-earnings ratio. 405, 413

PBGC

Pension Benefit Guaranty Corporation. 236, 271

PCE

personal consumption expenditures. 28, 35, 36, 115, 308, 312

PFIC

passive foreign investment company. 421, 422, 439, 568, 586, 696

PIA

primary insurance amount. 770

PIN

personal identification number. 63

PITI

principal, interest, taxes, insurance. 525, 623, 649, 658

PME

public market equivalent. 578, 580

PMI

private mortgage insurance. 196, 622, 639, 649, 651, 655, 658, 660, 671, 675

PMPT

post-modern portfolio theory. 365, 367–369

POD

payable upon death. 825, 836, 900

PPI

producer price index. 308, 531

PPLI

private placement life insurance. 695–697, 703, 826

PPO

preferred provider organization. 706, 707, 715, 721

PSLF

public service loan forgiveness. 616–620

PTE

post-termination exercise. 101

PV

present value. 5, 39, 45, 46, 358

QBI

qualified business income. 89, 201, 222, 227, 451, 524, 554, 566, 721

QCD

qualified charitable distributions. 253, 720, 764, 765, 777, 780, 786, 792, 795, 801, 806

QDIA

qualified default investment alternative. 372

QDOT

qualified domestic trust. 828, 841, 865

QDRO

qualified domestic relations order. 817

QLAC

qualified longevity annuity contract. 777

QM

qualified mortgage. 675

QPA

qualifying payment amount. 709

QPRT

qualified personal residence trust. 826, 827, 839, 843, 862, 863, 887

QSBS

qualified small business stock. 105, 129, 190, 217–219, 228, 574, 586–588, 592, 593, 820

QSST

qualified subchapter S trust. 215, 879

QTIP

qualified terminable interest property. 828, 864

RAP

repayment assistance plan. 125, 616–619

REIT

real estate investment trust. 27, 221, 247, 260, 264, 275, 302, 329, 335, 337, 342–344, 347, 364, 375, 379, 380, 382, 396, 424, 446, 498, 507, 522, 523, 525, 547, 548, 568, 573, 721, 781, 785

REO

real estate owned. 506

repo

repurchase agreement. 433, 494

RIC

regulated investment company. 221, 434, 435, 493, 498

RILA

registered index-linked annuity. 703, 779

RLT

revocable living trust. 825, 836

RMD

required minimum distribution. 73, 141, 254, 257, 261–263, 348, 661, 704, 720, 765, 776–778, 783, 784, 787, 790–796, 800, 802, 806, 838, 891, 900, 902

ROE

return on equity. 58, 406

ROI

return on investments. 508, 510, 515, 534

ROIC

return on invested capital. 406

RSA

restricted stock award. 99

RSU

restricted stock unit. 16, 19, 88, 99, 103, 105, 122, 123, 147, 148, 151, 153, 156, 163, 172, 175, 191, 252, 299, 310, 355, 457, 473, 645, 676, 686, 731, 736

RUFADAA

Revised Uniform Fiduciary Access to Digital Assets Act. 826, 834, 895, 896

SAA

shared appreciation agreement. 628

SAFE

simple agreement for future equity. 219, 229, 583–588

SAI

student aid index. 69, 289, 291

SALT

state and local taxes. 78, 93, 123, 140, 142, 196, 197, 207, 211, 230, 243, 245, 429, 641, 668, 669, 756, 811

SAR

stock appreciation rights. 103

SBLOC

securities-backed line of credit. 26, 31, 118, 119, 124, 125, 595, 597, 617, 629, 630, 632–634, 636, 637, 651, 675, 721, 797, 798, 806

SDI

state disability insurance. 16, 22, 58, 151, 650, 728, 729, 734, 735

SDIRA

self-directed IRA. 194, 273, 274

SEC

securities and exchange commission. 61, 72, 78, 85, 121, 205, 274, 298, 304, 374, 391, 399, 400, 403, 407, 422, 438, 456, 499, 501, 503, 575, 591, 597

SEPP

substantially equal periodic payments. 263

SIPC

securities investor protection corporation. 72, 82, 84, 299, 403, 805

SLAT

spousal lifetime access trust. 751, 752, 785, 808, 823, 825, 826, 828, 839, 843, 877, 891

SMA

separately managed account. 436

SOFR

secured overnight financing rate. 309, 401, 497, 595, 598, 601, 620, 666, 797

SPT

stochastic portfolio theory. 365, 369

SRO

self-regulatory organization. 298

SSA

social security administration. 64, 678, 720, 733, 770, 786, 814, 823, 891, 898

SSDI

social security disability insurance. 728, 729, 732, 733, 736

SSI

supplemental security income. 732, 850, 858, 859, 879

SSN

social security number. 62, 63, 82, 159, 225, 428, 676

SSNRA

social security normal retirement age. 729

STRIPS

separate trading of registered interest and principal of securities. 121, 394, 431

SWR

safe withdrawal rate. 48, 50, 371, 769, 770

TBE

tenancy by the entirety. 749, 752, 785

TCJA

tax cuts and jobs act. 106, 120, 142, 143, 164, 166, 191, 196, 197, 202, 231, 312, 413, 430, 448, 530, 532, 545, 643, 668, 669, 721, 756, 757, 780, 790, 792, 816

TDF

target date fund. 371, 376

TIN

taxpayer identification number. 110, 159, 200

TIPS

treasury inflation-protected securities. 27, 35, 36, 90, 145, 169, 301, 308, 312, 314, 315, 337, 345, 351, 353, 372, 381, 382, 396, 427, 431, 783

TPA

third-party administrator. 236, 243, 269, 271, 272

TRS

total return swap. 498

TSP

thrift savings plan. 281

TVPI

total value to paid-in capital. 580

TWAP

time-weighted average price. 400

TWR

time-weighted return. 330, 580

UBTI

unrelated business taxable income. 180, 194, 214, 221, 273–275, 303, 451, 500, 574, 582, 785, 855

UCC

uniform commercial code. 77

UDFI

unrelated debt-financed income. 194, 274, 276, 500, 582, 793

UFIPA

uniform fiduciary income and principal act. 838

UGMA

Uniform Gifts to Minors Act. 290

UPC

uniform probate code. 835

USDA

U.S. department of agriculture. 196, 511, 622, 624, 666, 678

USRPHC

U.S. real property holding corporation. 556

USRPI

U.S. real property interest. 555–557

UTC

Uniform Trust Code. 838

UTMA

Uniform Transfers to Minors Act. 279, 290, 825, 831, 832

UVTA

Uniform Voidable Transactions Act. 751

VA

veterans affairs. 511, 519, 619, 621, 624, 656, 665, 666, 671, 678, 704, 705, 748

VaR

value at risk. 328

VC

venture capital. 124, 215, 582, 583, 588–590, 592

VUL

variable universal life. 600, 691, 692, 694

VWAP

volume-weighted average price. 400

WACC

weighted average cost of capital. 411, 412

WEP

windfall elimination provision. 282, 774

WL

whole life insurance. 600, 691

YTM

yield to maturity. 426