AICPA Personal Financial Planning (PFP)

Intersection of Health and Financial Planning {PFP Podcast} Oct 25, 2024

In this episode of the AICPA Personal Financial Planning Podcast, Cary Sinnett interviews Dr. Carolyn McClanahan, a physician and financial planner, on the importance of addressing healthcare in financial planning. They discuss how health and financial wellbeing are deeply intertwined, especially when planning for long-term care, aging, and unpredictable health events. Dr. McClanahan emphasizes the importance of having early conversations about healthcare plans, estate directives, and the costs of care to ensure families are prepared.

How can financial planners integrate health-related conversations into their planning process, especially when clients are reluctant to discuss their health?
What steps should families take to prepare financially and emotionally for potential long-term care needs, particularly when care costs can vary significantly between home care and assisted living?
Why is it essential to have conversations about healthcare directives and long-term care preferences early, while everyone is still healthy?
How can families plan for the financial impact of a loved one’s health event, especially when the timing and severity of such events are unpredictable?
What role do tools like long-term care insurance, reverse mortgages, and hybrid life insurance policies play in safeguarding a family’s financial future in the face of rising healthcare costs?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Podcast: The importance of addressing long-term care planning
Guide: Guide to Retirement & Elder Planning: Healthcare Coverage Planning
Podcast: Taxes and financing retirement healthcare

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Marianela Collado {PFP Section} Oct 11, 2024

In this episode of "Deeper CPA Financial Planning Connections," Lyle Benson interviews Marianela Collada, CEO of Tobias Financial Advisors, about her career journey, the growth of her firm, and her role on the PFP Executive Committee.

Marianela discusses her experience working with high-net-worth clients, the importance of estate and tax planning, and her approach to growing the firm's team and capabilities. She emphasizes the significance of proactive planning, developing new leaders within the firm, and her optimism for the future of the financial planning profession.

How does proactive estate and tax planning benefit clients with a net worth between $7.5 million and $60 million?
What strategies can financial planners use to provide personalized services to clients who are not ultra-wealthy but still require comprehensive planning?
How can effective business succession planning enhance continuity and client service in a financial advisory firm?
What are the benefits of incorporating a team-based approach in financial planning to address diverse client needs?
How does integrating technology improve the efficiency and accuracy of financial planning processes for clients?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Changes and clarifications with the SECURE Act final regulations {PFP Section} Sep 27, 2024

Expert Bob Keebler, CPA PFS, breaks down the final regulations of SECURE Act 2.0. Difficult RMD questions are answered and complexities explained.

What is the difference between RMD rules for an IRA owner who dies before their required beginning date (RBD) versus after their RBD under the SECURE Act?

Who qualifies as an Eligible Designated Beneficiary (EDB), and how are they treated differently under the SECURE Act when it comes to distributions?

What is the significance of the 327 Election for surviving spouses with a significant age gap, and how does it impact the timing of distributions?

How does the SECURE Act's treatment of Roth IRAs differ from traditional IRAs regarding post-mortem distributions and the 10-year rule?

What tax penalties are introduced starting in 2025 for failure to comply with the new RMD rules, and how can financial planners develop strategies to minimize these penalties?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Practical tips to help clients with unintended early withdrawals from 401(k) plans {PFP Section} Sep 13, 2024

In this podcast, Kelley Long, a CPA financial planner, discusses two overlooked 401(k) scenarios that can lead to unexpected taxes or penalties:

when someone leaves their job with an outstanding 401(k) loan, and
when an employee's contributions are refunded due to plan testing failure.

Kelley explains how to avoid penalties by making loan payments into a rollover IRA before the tax return deadline and highlights the importance of identifying whether a 401(k) plan is safe harbor to prevent contribution limits for highly compensated employees.

Questions answered:

What happens if I leave my job with a 401(k) loan?
How can I avoid early distribution penalties after leaving my job?
What is a "return of contributions" in a 401(k) plan?
How does being a highly compensated employee affect 401(k) contributions?
What is a safe harbor 401(k) plan, and why is it important?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA Financial Planner Connections, Lyle Benson {PFP Podcast} Aug 23, 2024

Lyle Benson and his guests discuss how the upcoming AICPA Personal Financial Planning (PFP) Summit scheduled for January 2025 in Charlotte, North Carolina promotes the importance of networking and deepening our peer relationships. This 9th annual PFP Summit is an example of how connecting with other leaders through deep discussions on mutually beneficial topics can benefit both individuals and the CPA financial planning profession.

Lyle’s conversation with guests includes these topics (and more) and how PFP Summit addresses them:

Finding an environment where professionals can engage deeply with a blending expert presentations with participant discussions.
Combining both larger interactive group discussions with informal and smaller gatherings that together can solidify long-term professional relationships.
Prioritizing the on-going development of community that builds on the initial “study group on steroids,” experience and extends during the year with other formal and informal activities, such as the PFP Summit Presents virtual follow-up meetings.
Carving out time to address broader themes providing challenges and opportunities in financial planning, such as leadership, succession planning, and emerging issues like artificial intelligence.

The podcast highlights the PFP Summit’s unique approach to professional development and community building; looking forward to the new opportunities the 2025 event will offer.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in the Deeper CPA Financial Planner Connections podcast series.
Register for the 2025 PFP Summit to be held in Charlotte, NC on January 26-29, 2025, with a current early bird registration discount. Attendance is limited to 120 people to encourage networking and interaction.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Digging Deeper with your Clients, Part 3 of 3 | {PFP Podcast} Aug 09, 2024

In this final installment of Debra Taylor’s Digging Deeper series, she focuses on tax planning. After reviewing the importance of a structured service calendar and proactive client communication, she outlines five essential steps for effective tax planning and highlights 20 key tax planning strategies. This is an approach to broaden your tax planning to addressing the financial planning needs of your clients.

Debra answers questions like these in the podcast:

What are the five essential steps for effective tax planning?
How can financial advisors use diagnostic software in tax planning?
What are some key strategies for tax planning that advisors should consider?
How can comprehensive tax planning benefit clients financially?

Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including:

Debra Taylor’s video archive Planning for Clients with $1-15M in Net Worth
Debra Taylor’s previous podcasts Digging Deeper with your Clients, Part 1 and Part 2
Analysis of a Tax Return for Financial Planning Opportunities
The Personal Finance Scorecard is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Karen Goodfriend {PFP Section} Jul 26, 2024

In this episode, Lyle Benson and Karen Goodfriend discuss Karen's journey as a CPA financial planner, highlighting her transition from corporate aspirations to a focus on personal financial planning. Karen emphasizes the importance of integrating psychological aspects with technical financial planning, especially for clients experiencing sudden wealth. In this episode of the PFP Section podcast, Lyle Benson interviews Kelley to share more of her story with our community. The conversation includes Karen’s experience and perspective on topics like:

Benefits and opportunities of remote work
Technology’s evolving role of technology and its impact on remote collaboration
Importance of the supportive CPA financial planning community and mentorship
Significance of maintaining a balance between technical expertise and client relationships
The CPA financial planner’s role in the broader financial planning ecosystem

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Technology for a Tax and Financial Planning Services Business Guide
Learn more about the pathways for getting educated and attaining your CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Digging Deeper With Your Clients, Part 2 of 3 {PFP Section} Jul 12, 2024

As a follow-up to Debra’s webcast Planning for Clients with $1-15M in Net Worth, she discusses a much more organized approach for tax planning. A year-round planning calendar clearly shows how you apply tax planning to their financial decisions. The events encompassed in the calendar reinforce the key goals of a successful plan. As CPAs you talk tax planning, but here are ways to apply it with your client discussions that will allow you to be better organized, improve client retention and expectations and justify your fees. Debra answers questions like these and more:

How can a year-round planning calendar improve client retention and team organization?
What are the five key elements of a great financial plan?
How do you differentiate your tax planning from the firm down the street?
How does tax planning affect financial planning?

Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including:

Debra Taylor’s video archive Planning for Clients with $1-15M in Net Worth
The Advisor's Guide to Financial and Estate Planning is a 4-volume guide that serves as a reference for many client questions and strategies.
The Personal Finance Scorecard is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Estate planning for the TCJA sunset of the double exclusion amount {PFP Section} Jun 28, 2024

In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS discusses strategies for estate tax planning in anticipation of the TCJA (Tax Cuts and Jobs Act) sunset on December 31, 2025. The sunset, which will reduce the double exclusion amount from approximately $14 million to $7 million and many practitioners will need to evaluate gifting for their relevant clients. Bob covers various techniques, including:

Spousal lifetime access trusts (SLATs) and dynasty trusts, to ensure effective estate planning.
The importance of cash flow planning, understanding portability rules, and careful trust design to avoid issues like the Reciprocal Trust Doctrine.
Practical considerations such as timing of gifts, administrative preparation, and the use of private annuities for income.
The need for thorough documentation and legal compliance to prevent estate inclusion and litigation.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Prepare large estates for TCJA sunset now article
Upcoming webcast: Multi-year income tax planning in preparation for the sunset of TCJA included in PFP Section membership
Video: Planning with SLATs and SLANTs ahead of the TCJA sunset

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Digging Deeper with your Clients, Part 1 of 3 {PFP Section} Jun 14, 2024

As a follow-up to Debra’s webcast Planning for Clients with $1-15M in Net Worth, she discusses some important practice management considerations. An annual financial planning service calendar structures the delivery of client services and communication and is the foundation for adding valuable client relationships. Debra advocates for a systematic approach to client service, ensuring transparency and predictability. She also discusses various fee structures, including AUM (Assets Under Management) fees and alternative payment arrangements, to ensure fair and flexible compensation for the services provided. Your fees reflect your professional value. Debra answers questions like:

How can an annual service calendar help your client relationships?
How can you charge for your planning services?
How do you adjust for clients of different asset levels or extensive projects?

Many of the PFP Section resources provide ideas on topics that can be discussed throughout the year including:

Debra Taylor’s video archive Planning for Clients with $1-15M in Net Worth
The Advisor's Guide to Financial and Estate Planning is a 4-volume guide that serves as a reference for many client questions and strategies.
The Personal Finance Scorecard is a great tool to get feedback from your clients on what is really important and can guide your conversations throughout the year

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to navigate forks in the road with more clarity, focus, and ease {PFP Section} May 24, 2024

Life inevitably presents us with forks in the road, whether chosen or forced upon us. These transitions can be uncomfortable, requiring us to leave the familiar and step into the unknown. Whether guiding your clients through their life changes or experiencing your own, having a strategy can make these journeys less daunting.

In this Deeper CPA Financial Planner Connections episode of the PFP Section podcast, Lyle Benson, CPA/PFS, CFP® interviews Andrea Millar, RLP®, PCC, CPA/PFS to share her expertise on navigating these uncertain times. Tune in to discover:

What to anticipate during significant life transitions
The primary source of struggle during periods of uncertainty
Practical steps to transform these challenging moments into opportunities for growth and deep satisfaction

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Tune into Susan Bradley’s podcast episode, Understanding the human side of life transitions.
Join Andrea in her session at ENGAGE, Navigating the balance: Prioritizing mental wellness for financial professionals.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Money Dates (PFP Section) May 10, 2024

A recent CNBC survey of couples discovers that 64% admitted to being financially incompatible. A money date is a relaxed and open conversation about finances and goals. This is an important component to financial compatibility and avoiding potential conflict. It can benefit relationships of any length and open channels of communication with transparency and respect. Dave answers questions like:

What is a money date and why is it important?
How can it help understand each other’s financial habits and attitudes?
What are the places for combined and separate money in marriage?
Does this concept work for both newly engaged and long-term couples?

Many of the PFP Section resources provide ideas on topics that can be discussed in this manner including:

The Life Events section of Broadridge Advisor provides conversation ideas relating to clients’ current or future situations.
The new Health Transitions Guide help you talk clients through potentially stressful situations.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Valuing life insurance policies for gift tax returns {PFP Section} Apr 26, 2024

As we narrow in on the sunset of the Tax Cuts and Jobs Act, many practitioners will be suggesting that their relevant clients make gifts. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, and Larry Brody, JD, discuss what needs to be known when valuing life insurance policies for the purpose of filing gift tax returns, including:

What do we need to know about the IRS regulations?
Can you get a valuation in lieu of relying on the IRS regulations?
What value should be used when given a series of values on Form 712?
What if you don’t agree with the Form 712 values?

For more resources related to this episode:

Access Bob’s decisions charts in the Proactive Planning Toolkit.
Use the Adviser’s Guide to Financial & Estate Planning for other planning ideas as we head into the sunset of TCJA.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Strategies to draw down excess 529 funds {PFP Section} Apr 15, 2024

The SECURE 2.0 Act opened new doors for the use of 529 plan funds. Kelley Long discusses the impact of the changes on strategies available to clients using 529 plans. Not only does Kelley review the rules of rolling 529 plan funds to Roth IRAs, but also takes a step further to address the numerous related questions she has gotten on this strategy and other creative ways to draw down 529 plan funds. In this episode of the PFP Section podcast, Kelley will provide the information you need to discuss how 529 plans can fit into your clients’ financial plans. The conversation includes the following topics:

How to handle beneficiary changes.
How to equalize the distributions from excess funds in 529 plans.
How to evaluate the 15-year measurement when transferring 529 funds to Roth IRAs.
How does a transfer of funds from one beneficiary to another impact the 5-year rule?
What is a backdoor 529 to Roth transfer?
Can a mature client contribute 529 plans with the intent to roll the funds to a Roth IRA?
What are the penalties for 529 non-qualified withdrawals?
What are some other ways to draw down excess funds in a 529 plan?
How taking out a student loan can be a strategy

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Read Kelley’s article: Saving for college: The new 529-to-Roth IRA transfer rule
Related podcast: How SECURE 2.0 impacts clients we see in our practice
Use the related Education planning resource guide or Roth changes from SECURE 2.0 visual.
Learn more about the pathways for getting educated and attaining your CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Kelley Long {PFP Section} Mar 22, 2024

Kelley Long began her career in big 4 accounting like so many other CPAs. However, she had to quickly shift her path with the fallout that happened after September 11, 2001. Her roles as a bank trust officer and as a workplace financial wellness provider led her to her passion for coaching on the everyday money issues that clients have. In this episode of the PFP Section podcast, Lyle Benson interviews Kelley to share more of her story with our community. The conversation includes the following topics:

How did Kelley go from where she was to where she is now, doing her passion work as a financial coach.
How did being a member of AICPA’s Financial Literacy Commission impact Kelley’s work?
What are Kelley’s thoughts on working in a remote or hybrid environment?
What does Kelley want every CPA to know about HSA planning?
What does Kelley enjoy doing most and how does she make sure her time and energy are aligned with this?
How does Kelley view the future of CPA financial planning?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Read Kelley’s article, 9 facts about HSAs that might surprise your clients - Journal of Accountancy.
Learn more about the pathways for getting educated and attaining your CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The best and worst things you can do with insurance – Part 2 {PFP Section} Mar 08, 2024

In part 2 of this PFP Section podcast series, experts Lee Slavutin, MD, CLU, and Marty Shenkman, CPA/PFS, JD, LLM share planning details to help you guide your clients in the following areas:

The different perspectives on long term care (LTC) insurance that goes beyond the numbers to the psychological benefits.
Why it makes sense to have every client go through the process of evaluating LTC insurance, whether they buy it or not.
The importance of understanding the nuances of SLATs and SLANTs in the context of filling the gaps with LTC coverage.
Avoiding the consequences of not evaluating the beneficiaries for insurance and retirement plans.
The nuances that need to be understood with life insurance and buy sell agreements.
Understanding the transfer of value issue and how to make sure there aren’t unintended consequences.

For more resources related to this episode:

Access our new PFP Section member exclusive guide on health transitions.
Find our life insurance summary and review roadmap and other PFP Section resources here.
Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What to beware of with QTIP trusts {PFP Section} Feb 23, 2024

Qualified terminable interest property (QTIP) trusts were created so that spouses could receive the benefit of the marital deduction while also setting aside resources for a surviving spouse and retaining control over what happens to the funds when the surviving spouse passes away. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, and Paul Hood, JD, LLM, discuss the nuances of QTIPs, including:

The confusion is caused by the separate Internal Revenue Code provisions on the estate and gift side. On the estate side, the rules are lax. And, on the gift side, they are rigid.
How can a buy/sell agreement interfere with the efficacy of a QTIP trust and what to watch out for to make sure this doesn’t happen.
What do QTIP limits like fiduciary income to the surviving spouse mean from a family harmony, efficient trust and estate administration, and a fiduciary income accounting perspective.
What’s the bottom line as CPAs prepare gift tax returns that involve QTIPs in 2024.

For more resources related to this episode:

Send your relevant clients this Broadridge Alert to educate them on QTIP trusts.
Use the Adviser’s Guide to Financial & Estate Planning volumes 1, 2, 3, and 4 as a reference for planning with QTIP trusts and much more.
Get the basics of estate planning with our certificate program. This is one of 5 certificates that leads to attaining the PFS credential when experience and other requirements are met.
Access Bob’s decisions charts in the Proactive Planning Toolkit.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The evidence-based qualities of admired advisors {PFP Section} Feb 09, 2024

Do you want to be the trusted advisor who makes a meaningful difference in your client’s life? One of the ways to do this is to get in touch with the qualities of being that you want to demonstrate consistently with your clients. In this episode of the PFP Section podcast, Steve Atkinson, Managing Director with Admired Leadership, shares the behaviors that admired advisors have that separate them from the pack. Steve answers the following questions:

Tell us about your prior experiences that gave you insights into how the most admired advisors show up for their clients.
What is Admired Leadership and how is it evidence-based?
Share some of the behaviors that are seen consistently in the research.
How do these high performing admired advisors avoid burnout?
What do you suggest to CPA financial planners who are overloaded with work?
What’s your top takeaway for listeners?

For more resources related to this episode:

Register for Creating Your CPA Personal Financial Planning Practice workshop so that you can learn from others who have paved the path.
Access the Admired Leadership Field Notes.
Listen to the Admired Advisor podcast.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Dr. Moon and Lyle {PFP Section} Jan 26, 2024

The tables are turned on Lyle Benson, CPA/PFS, in this episode of the PFP Section’s Deeper CPA Financial Planner Connections series. Dr. Haesun Moon, communication scientist, educator, and author, interviews Lyle to pull out the gold threads of his professional story. They discuss:

Lyle’s story of beginning in tax and his why behind diving into financial planning at age 29 and starting his own firm at the age of 36.
How leaders in the profession became mentors early in Lyle’s career and how this community connection has been the foundation throughout his career.
What it’s like to be in a family business with Lyle’s son, Chris, and how this can help others who are in family businesses.
How Lyle is transitioning and transforming to his next life stage.
The changes that Lyle has seen in the CPA financial planning profession over the last 30 years and what has stayed constant.
How his firm is evolving to meet the needs of the next generation.
How Lyle weaves his role as host and human connector through his professional and personal life.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Save the date for ENGAGE 2024 where you will find the most technically advanced learning in PFP, tax, and estate planning.
Save the date for Creating your CPA financial planning practice workshop in advance of ENGAGE on June 2nd.
Save the date for PFS Live! workshop in advance of ENGAGE on June 2nd.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The why, what, and how behind legacy planning for your clients {PFP Section} Jan 19, 2024

CPA financial planners help clients live meaningful lives and pass on their legacy. Often, estate planning is heavy on the practical and complex elements that can be seen as the housekeeping of who gets what and when. What we don’t always explore is the deeper why behind the estate planning. The good news is that you can coach clients to discover their legacy so that it can be communicated and so that your client can see the meaning of their life story and what they want to leave behind. Jean-Luc Bourdon, CPA/PFS, guides you in how to take on this role in this episode of the PFP Section podcast. He discusses the following:

What legacy is, why it’s so important, and why it’s not optional
Understanding the difference between the default, political, and organic legacies
How to guide your clients to discover meaning, purpose, and legacy
A client example where Jean-Luc illustrates how to have this conversation
The enormous amount of research behind the benefits of reflecting on life
How to integrate legacy planning into your work with clients

Email us for the list of resources mentioned during the podcast. 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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The best and worst things you can do with insurance – Part 1 {PFP Section} Jan 12, 2024

Proper insurance planning is one of the most overlooked areas of personal financial planning. In part 1 of this PFP Section podcast series, experts Lee Slavutin, MD, CLU, and Marty Shenkman, CPA/PFS, JD, LLM share planning details you will want to know, including:

Buying the adequate amount of life insurance
Using whole life insurance as a way to save, to diversify client portfolios, and to protect assets
How to protect against a fraudulent conveyance
Buying insurance from highly rated companies
Making sure disability insurance needs are not overlooked

For more resources related to this episode:

Find our life insurance summary and review roadmap and other PFP Section resources.
Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Happy 2024 from the PFP EC and PFS CC chairs! {PFP Section} Jan 05, 2024

PFP Executive Committee (PFP EC) chair, Brooke Salvini, CPA/PFS, and PFS Credential Committee (PFS CC) chair, Oscar Vives, kick off the New Year in this episode of the PFP Section podcast. They answer the following questions:

What did you learn in 2023 that was meaningful to you personally and professionally?
What were the PFS CC and PFP EC milestones in 2023?
What is the PFP Division celebrating in 2024?
What are the focus areas for the committees in 2024?
What is your favorite PFP Section resource?
What are you looking forward to personally and professionally in 2024?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Join your AICPA PFP community at the next PFP Summit in Austin, TX January 15th through 18th.
Learn more about the PFP certificate program, the PFS experienced track, and PFS Live!
Apply to become a PFP Champion.
Join the emerging leaders Slack channel.
Save the date for ENGAGE PFP and Creating Your CPA Financial Planning Practice Workshop.
Download the latest Adviser’s Guide to Financial & Estate Planning and find other PFP Section benefits.
Hear more about the PFP Division history and 2024 milestones in our history and future podcast part 1 and part 2.
Listen to the Deeper CPA financial planner connections series to hear success stories from other members in your PFP community.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Jim Shambo {PFP Section} Dec 29, 2023

Jim Shambo is one of the pioneers of the CPA financial planning profession, the PFP Section, and the PFS Credential. He has a lot of insight to offer on many topics that can be useful takeaways for listeners. In this episode of the Deeper CPA financial planner connections PFP podcast, Lyle Benson facilitates a discussion with Jim to share the highlights of his story. The conversation includes the following topics:

How Jim decided to focus on personal financial planning after beginning his career in tax
How Jim and a few of his peers laid the foundation for what we have today with the PFP Section and the PFS credential
What Jim learned in college that led to his success in his firm, in his service for clients, and as a volunteer for AICPA
What approach Jim takes with investing and how his relationship with Vanguard’s John Bogle influenced him
How Jim planned for a successful retirement and sale of his business
How using the creative side of his brain has been Jim’s secret to a life well lived

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Save the date for ENGAGE 2024 where you will find the most technically advanced learning in PFP, tax, and estate planning.
Save the date for How to build your CPA financial planning practice workshop in advance of ENGAGE on June 2nd.
Save the date for PFS Live! (registration coming soon) in advance of ENGAGE on June 2nd.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Inherited IRA RMD clarity for 2023 and 2024 {PFP Section} Dec 22, 2023

Ed Slott, CPA, and Bob Keebler, CPA/PFS, discuss the complicated inherited IRA RMD rules and what is required in 2023 and 2024 in this episode of the PFP Section podcast. Ed and Bob provide clarity in the following areas:

An easy formula to use to get clear on all of the elements that need to be considered
The only scenario in which penalty relief is available when the RMD is not taken
Who must take RMDs in years 1 through 9 under the 10-year rule and who can wait until year 10
When does the 5-year rule apply
What happens when a ROTH IRA is inherited

For more resources related to this episode:

Check out Bob’s IRA distribution flowcharts in the Proactive Planning Toolkit.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Crucial issues related to disability and long-term care insurance {PFP Section} Dec 15, 2023

150 million Americans live with chronic illness. And yet, disability and long-term care (LTC) insurance are often overlooked in planning with clients. In this episode of the PFP Section podcast, experts Lee Slavutin, MD, CLU and Marty Shenkman, CPA/PFS, JD, LLM share the most important considerations for client planning, including:

What three riders are important to have on a disability insurance policy
Why the exercise of determining the impact of disability on a family’s finances is critical
Why you need to reassess disability, life insurance, and LTC insurance as part of estate strategies being done ahead of the TCJA sunset
Who benefits most from LTC and what are the types to consider
The importance of considering the human side (aka emotional side) of planning with these decisions

For more resources related to this episode:

Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Life insurance planning strategies for businesses {PFP Section} Dec 08, 2023

You can give your clients tremendous value by guiding them with their life insurance planning, even if you’re not an insurance expert. In this episode of the PFP Section podcast, Ed Mendlowitz, CPA/PFS, interviews expert Lee Slavutin, MD, CLU to share strategies for businesses. Ed poses the following questions to Lee:

What are the advantages of having life insurance in a qualified plan for a business owner?
What specific rules do CPAs need to watch out for with key person insurance?
Share more about the ins and outs of buy sell agreements that CPAs need to consider.
Why does split dollar provide tremendous benefits for family business succession planning?

For more resources related to this episode:

Listen to Lee’s podcast with David Kushner outlining the tax traps to beware of with life insurance planning.
Listen to Lee’s podcast with Ed Mendlowitz covering life insurance planning strategies for individuals.
Use the Adviser’s Guide to Financial & Estate Planning Volume 1 as a reference with respect to life insurance planning.
Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.
Review the PFP Section life insurance policy evaluation tools which includes a checklist for a life insurance policy checkup, issues to consider when evaluating replacing a life insurance policy, and more.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections: Our history and our future: Part 2 {PFP Section} Dec 01, 2023

This is part 2 of the PFP Section podcast that marks our CPA financial planning history and celebrates the journey of where we’ve been to take us into the future. We once again invited other AICPA volunteer leaders into the discussion to help us share our story. In this episode, Lyle Benson, CPA/PFS, Andrea Millar, CPA/PFS, and other CPA financial planners discuss:

What are the investment adviser regulatory issues that CPAs need to understand?
Why should we all consider embracing calling these services personal financial planning?
The purpose behind The Statement on Standards in Personal Financial Planning Services and how this elevates CPAs
Why having personal financial planning on the CPA exam will be a game changer?
The education that supports the CPA way of providing these services
What is the coach approach and why is it so crucial?
What are the attributes you need to flourish into the future?
What you get back by being involved in your CPA financial planning profession?
Why we all need to come together to leave a legacy?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

The Statement on Standards in Personal Financial Planning Services.
The CPA’s guide to investment advisory business models and related decision chart and case study.
The evolution of the CPA exam.
The education created in the CPA way, including the fundamentals and the certificates.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections: Our history and our future: Part 1 {PFP Section} Nov 27, 2023

As with any profession, it’s important to understand how we got to where we are today to take us into a successful future. In this 25th episode of the Deeper CPA Financial Planner Connections podcast series, Lyle Benson, CPA/PFS, and Andrea Millar, CPA/PFS discuss how the CPA financial profession got started and led to building a thriving community and resources from there. They also invited other AICPA volunteer leaders to this episode to share their perspectives. The conversation includes:

How have CPAs played the role of trusted adviser to individuals since the creation of the accounting profession in 1887?
How were personal financial planning services formalized within AICPA to provide robust resources for members?
Why was it so important to create the PFP Section in 1986 and add the PFS credential in 1987?
Why is the advanced PFP conference a critical aspect of the AICPA PFP community and their learning?
Celebration of the incredible member volunteers who have gotten us to where we are and why passionate members are so crucial to our success
We have laid a great foundation with the best of the best resources and learning, authoritative PFP standards, financial planning on the CPA exam, an incomparable community of committed professionals, to name a few. Where do we go from here?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Sid Kess was invited to be a part of this episode. Sadly, he passed away before the recording took place. Sid prepared this dictation, graciously shared by his children, in preparation for the podcast. He focuses on the importance of a holistic approach in personal financial planning and how that also applies in the medical field.
Learn more about the PFP Division history in our 25th anniversary celebration document.
Listen to other episodes in this series.
Save the date for ENGAGE 2024 where you will find the most technically advanced learning in personal financial planning, including tax, estate, retirement, risk management, and investment planning.
Save the date for How to create your CPA personal financial planning practice at ENGAGE on June 2nd (for CPAs who need guidance on building their financial planning practice)
Save the date for PFS Live! at ENGAGE on June 2nd (for experienced CPA financial planners who qualify for the experienced PFS track)

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What you need to know about CA ING trusts {PFP Section} Nov 17, 2023

In July, California Governor Newsome signed legislation that disallows the incomplete gift non-grantor trusts (INGs) as a way to avoid CA state tax income. The law is retroactive to January 1, 2023. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews CA attorney, Kirsten Wolff, to guide CPAs on how to proactively plan with this new legislation. Bob poses the following questions to Kirsten:

Do all ING trusts now trigger CA tax?
Say more about the exception for charitable trusts.
What types of trusts are not impacted by the new legislation?
How do the throwback rules apply?
How should CPAs plan for their CA clients who had ING trusts that received income or incurred capital gain before the law took effect?
What should be done with ING trusts as a result of the new rules?

For more resources related to this episode:

Tune in to Steve Oshins and Bob Keebler as they dive deeper into the CA ING trust issue.
Find Bob’s decisions charts in our Proactive Planning Toolkit.
Find Steve Oshins decision charts.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Life insurance planning strategies for individuals {PFP Section} Nov 10, 2023

You can give your clients tremendous value by guiding them with their life insurance planning, even if you’re not an insurance expert. In this episode of the PFP Section podcast, Ed Mendlowitz, CPA/PFS, interviews expert Lee Slavutin, MD, CLU to share strategies to consider for your individual clients. Ed poses the following questions to Lee:

What strategies would you recommend to make use of the lifetime exemption before the sunset at the end of 2025?
Why is doing an insurance audit a great service to provide for your clients at all wealth levels?
What are the benefits of a life insurance trust and how do crummy powers play into this?
When are split dollar policies allowed, why use them, and who do they benefit?
What are some ways to meet charitable goals through life insurance planning?

For more resources related to this episode:

Listen to Lee’s podcast with David Kushner outlining the tax traps to beware of with life insurance planning.
Use the Adviser’s Guide to Financial & Estate Planning Volume 1 as a reference with respect to life insurance planning.
Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The value of qualified small business stock (QSBS) treatment {PFP Section} Nov 03, 2023

IRC Sections 1202 and 1045 are becoming more popular in recent years due to the tax favorability and private investing being more attractive overall. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews experts Caleb Powers and William Beckett to refresh us on what this is all about. They discuss:

What are the criteria to qualify?
How do you receive IRC Section 1202 treatment?
What happens if you don’t hold the QSBS for 5 years?
How does IRC Section 1045 come into play?
What should employees with 1202 stock options do?
How does this apply to estate planning?

For more resources related to this episode:

Find Bob’s decisions charts in our Proactive Planning Toolkit.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Sarah Bradley {PFP Section} Oct 27, 2023

Sarah Bradley, CPA/PFS, took a leap from being an employee to being a first-time business owner practicing in tax compliance and personal financial planning. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, facilitates Sarah to share her story so that you can benefit from her experiences. They discuss:

How Sarah made her way to her current role as partner in a CPA financial planning firm
How she decided to go from employee to business owner and to a very different role in her work
What armed her with the ability to make such a bold decision and build the skills needed
What got her through a pandemic the first year in business and a partner diagnosed with brain cancer in the fourth
How her firm decided their service offering, including not to provide investment advice
How she manages time for financial planning in the face of tax compliance deadlines
How coaching and mentoring has supported her along the way
What she sees for the future of CPAs in financial planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Save the date for ENGAGE 2024 where you will find the most technically advanced learning in PFP, tax, and estate planning.
Save the date for the How to build your CPA financial planning practice workshop in advance of ENGAGE on June 2nd.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to address the qualitative (aka hard) side of planning {PFP Section} Oct 20, 2023

We often hear about the soft side of planning. As Lisa Featherngill, CPA/PFS, shares in this episode of the PFP Section podcast, this is really the hard side of planning. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Lisa to get her thoughts on how to have important conversations that lead to whether the quantitative side of planning will be successful or not. The stakes are high and it’s important to guide clients to communicate in a way that gets underneath the numbers to the meaning of the wealth. Lisa and Bob discuss:

What is the qualitative side of planning?
What is the number one reason why families lose control of assets and family unity by the third generation?
What can we do to encourage clients to have these conversations?
Are there tools that can be used to make it more comfortable for advisors and clients?
What gets in the way of having these important discussions and how can we overcome this?
What does all of this have to do with AI?

For more resources related to this episode:

Join the January 2024 PFP Summit where we dive deeper into the soft (aka hard) side of planning for ourselves, our clients, and our businesses.
The books mentioned by Lisa are Preparing Heirs: Five Steps to a Successful Transition by Roy Williams and Vic Preisser, Strangers in Paradise by James Grubman, and Bridging Generations by Roy Williams and Amy Castoro.
Find Bob’s decisions charts in our Proactive Planning Toolkit.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to earn interest rate equivalents and pay less in tax {PFP Section} Oct 06, 2023

Investors have regained interest in investing in bonds in this higher interest rate environment. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Mark Fichtenbaum, JD, LLM, to guide CPA financial planners on how to give rise to interest like income while paying long term capital gain rates. They discuss:

· How to create the economic equivalent of interest income using option strategies

· The after-tax benefits of using option strategies versus investing in assets that create ordinary interest income

· How to structure the option transaction to create a higher after-tax return in a safe and low risk way

· The best scenario of using this strategy when you have clients with capital loss carry forwards

· When this strategy may not make sense

For more resources related to this episode, access:

·

Use the slide deck to follow along with the discussion.
The Proactive Planning Toolkit, exclusive to PFP Section members.
Join Bob Keebler for his year-end planning webcast on October 30th and November 13th. CPE for this webcast is included with your PFP Section membership.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Lisa Featherngill {PFP Section} Sep 29, 2023

Lisa Featherngill, CPA/PFS, is on a mission to make sure the qualitative side of planning gets as much emphasis as the quantitative aspects. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, facilitates Lisa to share her wisdom so that you can benefit from her experiences. They discuss:

How Lisa took the leap from providing tax and financial planning services in a CPA firm environment to joining a large bank
What her mom shared with her that helped her make a hard career decision
Why her current role is the capstone of her career, bringing all of her experiences together
Her passion for helping her family clients be successful by communicating well, especially in the estate planning area
The critical role that CPA financial planners play on a team of advisors
How she wants to take her knowledge of planning for the HNW to help those with lesser wealth
What she sees for the future of financial planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Save the date for ENGAGE 2024 where you will find the most technically advanced learning in PFP, tax, and estate planning.
Use Broadridge Advisor to make complex topics simple for your clients.

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 theCPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Serving women clients well {PFP Section} Sep 22, 2023

Women control 1/3rd of the total US household financial assets of 11 trillion dollars and they make up 47% of the workforce. And yet many don’t seek the financial advice they need to gain peace of mind for their financial futures. In this episode of the PFP Section podcast, Debbie Taylor, CPA/PFS, shares her experience working with women clients and what she has learned about their needs to best serve them. Debbie discusses the following topics:

What are the financial challenges that women face?
Tell us the good news about women and their finances.
What do women want most from their advisor?
How can CPA financial planners better serve their existing women clients?
How can we reach the women who need an advisor?

For more resources related to this episode, access:

Use the resources in Broadridge Advisor’s Women’s Resource Center to connect with your clients.
Register for an upcoming webcast on Women & Wealth

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The new Massachusetts surtax (PFP Section) Sep 15, 2023

Effective for 2023, Massachusetts taxpayers are now subject to a new surcharge of 4% of income over one million dollars. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Jonathan Blattmachr JD to guide CPA financial planners on the new surcharge.

Who is impacted by the new surcharge?
How is the new surcharge calculated?
Considerations of changing domicile to avoid the new surcharge.
How residents can file and structure income to reduce surcharge.
How using some trust structures could help reduce the surcharge.

For more resources related to this episode, access:

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How the recent CA anti ING trust legislation impacts planning {PFP Section} Sep 08, 2023

CA recently passed legislation disallowing ING trusts by treating them as grantor trusts for state purposes retroactive to January 1, 2023. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Steve Oshins, JD, LLM, to guide CPA financial planners on how to rectify this situation. They discuss:

What are ING trusts and why are they used in planning for clients?
What does the CA legislation allow and not allow going forward?
How to pivot to a different technique that still allows for impactful results?
Planning opportunities that may be being missed in NY where INGs were disallowed beginning in 2014.
What needs to be done now?

For more resources related to this episode, access:

The Proactive Planning Toolkit, exclusive to PFP Section members

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Tax traps to beware of with life insurance planning {PFP Section} Sep 01, 2023

There are many professionals involved with clients and their tax, retirement, estate, insurance, and investment planning. In the case of life insurance, it’s important to be on the lookout for tax traps before it’s too late. In this episode of the PFP Section podcast, David Kushner, CPA, interviews expert Lee Slavutin, MD, CLU to inform us of the issues we need to know. They discuss:

The 3 situations in which life insurance premiums are tax deductible and have little risks of being challenged.
What is the estate and income tax impact when an individual with a retirement plan that holds their insurance policy passes away?
What unintended consequences can happen when clients move policies around and change ownership?
The 2 things you need to find out before clients get involved in a 1035 exchange. Valuation issues that arise when gifting a policy.

For more resources related to this episode:

Use the Adviser’s Guide to Financial & Estate Planning Volume 1 as a reference with respect to life insurance planning.
Check out the AICPA’s Risk Management and Insurance Planning Certificate Program, that is also a step on the path towards becoming a CPA/PFS.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Tom Trainor {PFP Section} Aug 25, 2023

Tom Trainor is a CPA financial planner in Canada who has given a lot of volunteer time to the AICPA PFP Division. Tom talks about how collaborating with his peers in this community has kept his practice on the cutting edge. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, facilitates Tom to share his wisdom so that you can benefit from his experiences. They discuss:

The different on ramps that Tom has taken to land with his own family office
How Tom uses technology to keep his firm running smoothly with only 3 owners and employees
The differences and similarities between financial planning in Canada, in the US, and in other countries
How Tom leads with financial planning to inform all else like estate planning, risk management, and investment planning
The way that Tom incorporates human capital into his planning
Tom’s view that volunteer time is research for his business
Tom’s take on the future of the profession and more

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Save the date for ENGAGE 2024 where you will find the most technically advanced learning in PFP, tax, and estate planning.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Two important RMD developments {PFP Section} Aug 18, 2023

On July 14, 2023, the IRS released notice 2023-54 which provides for relief for RMDs in two circumstances. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, shares what you need to know, including:

If your client mistakenly took a required minimum distribution in 2023 based on SECURE but they could have waited until 2024 based on SECURE 2.0, they have until September 30th to repatriate the RMD without penalty.
Relief via IRS notice 2022-53 has been extended into 2023. Beneficiaries subject to the 10-year rule will not need to take RMDs until the IRS releases final regulations providing more clarity on what is required.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Share the update with your clients with this Broadridge Advisor Alert, included with AICPA PFP Section membership.
Learn more on the latest proposals and regulations in the audio section of the Proactive Planning Toolkit.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Why you need to take Bitcoin seriously - part 3 {PFP Section} Aug 11, 2023

If you believe it is a good idea to hold even a small amount of Bitcoin, the next step is to educate your clients and decide on the strategy that will have the best chance for success. In this episode of the PFP Section podcast, David Oransky, CPA/PFS, shares how he approaches this with his clients. Mark Astrinos, CPA/PFS, poses the following questions to David:

How to you respond to criticism of Bitcoin from other advisors?
What is your approach with clients to include Bitcoin in their portfolio?
How do you explain that Bitcoin is money versus a traditional investment that produces cashflow?
Why are retirees most at risk if Bitcoin is successful long term (and they haven’t allocated a portion of their portfolio to Bitcoin)?
How do you assuage fears given the volatility of Bitcoin?
Should advisors be worried about compliance regulation or lack thereof?
Where can listeners go to learn more?

For more resources related to this episode:

Tune in to the first episode and second episode in this series.
Listen to David’s in-depth webcast on Bitcoin and access the related slides.
Check out the various books to learn more that David mentions at the end of this episode.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Nuances to be aware of with Roth conversion planning {PFP Section} Aug 04, 2023

If you have clients who are contemplating Roth conversions who may also want to take advantage of clean vehicle credits and ACA premium credits, make sure to run the numbers so that you minimize their tax bill. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Martin James, CPA/PFS, so that you can learn more about these scenarios. They discuss:

· How the clean vehicle energy and ACA premium credits work

· How you can save your clients from missing out on thousands of dollars in clean energy vehicle credits

· What to think about with early retirees who want to pay the least amount of insurance premiums before Medicare kicks in

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

· The Adviser’s Guide to Financial & Estate Planning

· The Proactive Planning Toolkit

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Ellen Bruno {PFP Section} Jul 28, 2023

Ellen Bruno is a CPA/PFS who has taken a career path that puts her in the seat of serving financial planners who are registered investment advisers. Her experience has always tied closely to money management beginning with her first role out of university with PwC. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, guides Ellen to share how she created her remote firm with 11 employees and words of wisdom about compliance in the RIA world. Ellen answers the following questions:

What made you take the leap of faith to begin your own firm 18 years ago?
How have you been successful running a business with 11 employees that is 100% remote?
What advice do you have for CPAs contemplating providing investment advisory services and intimated by the compliance area?
What should CPAs watch out for who are shifting from traditional practice to becoming an RIA?
How do you guide CPA RIAs who are fearful of having an SEC audit?
What do you see for the future of CPA financial planners in the RIA world?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Be on the look out for the Building Your PFP Business workshop registration link coming to ENGAGE 2024.
If you are contemplating adding investment advisory services to your practice or if you want to make sure you’re not crossing the line and need to register, read the CPA’s Guide to Investment Advisory Business Models. Ellen consulted on the writing of this guide.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Why you need to take Bitcoin seriously - Part 2 {PFP Section} Jul 21, 2023

In part 2 of this series, you’ll learn about the history of money and how that relates to the likelihood of Bitcoin becoming the future of money. In this episode of the PFP Section podcast, David Oransky, CPA/PFS, shares his knowledge based on his deep dive into understanding Bitcoin. Mark Astrinos, CPA/PFS, poses the following questions to David:

What is the history of money?
Compare and contrast Gold and Bitcoin.
What gives Bitcoin its value and what makes it the perfect money?
What will it take to get people to take Bitcoin seriously?
How do we assuage concerns of not being centralized or regulated?
How does Bitcoin benefit humanity?

For more resources related to this episode:

Tune in to the first episode in this series.
Listen to David’s in-depth webcast on Bitcoin and access the related slides.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Why you need to take Bitcoin seriously - part 1 {PFP Section} Jul 14, 2023

David Oransky, CPA/PFS, believes that if you don’t allocate a small allocation of your assets to Bitcoin as a hedge, you may be exposing yourself and your clients to a significant risk. In this episode of the PFP Section podcast, Mark Astrinos, CPA/PFS, interviews David Oransky, CPA/PFS, to get his wisdom on what we should know about Bitcoin. David takes a conservative approach to planning, so he was skeptical at first and was not an early adopter. However, after a deep dive to learn more, he discovered that his preconceived notions didn’t pan out. David answers the following questions:

How do you explain what Bitcoin is to CPAs and other advisors?
How do you talk to your clients in a way that they understand and what is their response?
Tell us your journey that got you to the point of trusting Bitcoin.
Why do CPA financial planners and other advisors need to care about this and pay attention now? What is the risk to waiting?
Why do you think it’s important that your retiree clients have a small portion of their wealth allocated to Bitcoin?
How does Bitcoin play into the larger issues we’re facing now like US and global debt at an all-time high, the banking crisis, inflation, and geopolitical concerns?
How is Bitcoin different than other cryptocurrencies?
What is your prediction for the future of Bitcoin?

For more resources related to this episode, listen to David’s in-depth webcast on Bitcoin and access the related slides.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Quantifying Advisor Value Part 2 {PFP Section} Jul 07, 2023

There has never been a better time to focus on tax planning services to give clients high value. Integrating this with financial planning and investment management is even better. In this episode of the PFP Section podcast, Andrea Millar, RLP®, CPA/PFS, interviews Debbie Taylor, CPA/PFS, JD, to get her take on how to deliver the services that will make the largest impact for clients while also giving you high satisfaction. They discuss:

What’s so important about identifying a target market/niche?
How should advisors think about the services they offer and how to position these to clients?
What are the downsides to not including investment management in your offerings?
What are the services that should be delivered to pre-retirees?
What are the “Five Tax Gotchas?”

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Use the Guide to Financial & Estate Planning to guide the advanced planning conversations with clients.
Register for the August 1st webcast with Steve Siegel to get a head start on planning ahead of the sunset. Free CPE is included for PFP Section members.
Find resources to build your tax and financial planning advisory services.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Clark Blackman {PFP Section} Jun 30, 2023

Clark Blackman started out in tax, moved into financial planning, and eventually honed his expertise in investment advice. He was very likely the first CPA who had a client pay their fees based on assets under management rather than hourly or retainer fees. His experience in large CPA firms paved the way to finally open his own wealth management firm in 2006 where he now works alongside his wife and son. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Clark to learn more about his journey and nuggets of wisdom. Clark answers the following questions:

How did you create the successful wealth management firm you have today?
Why do you believe the AUM model is the best for your clients?
What makes CPAs so well qualified to provide these services?
What is most rewarding about your work with clients and how do you structure your day to have as much time for clients as possible?
How has volunteering for the AICPA PFP Division enhanced your life and what do you recommend to others who want to have a good volunteer experience?
What does the future of the CPA financial planning profession hold and what should we be worried about down the road?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Read the beautifully and simply written AICPA Statement on Standards in Personal Financial Planning Services. These standards came to life under Clark’s leadership as chair of the AICPA PFP Executive Committee. They lay out a framework for CPAs to provide financial planning advice in the highest professional manner.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Quantifying Advisor Value Part 1 {PFP Section} Jun 23, 2023

Services like tax compliance and investment management are becoming commoditized. In this episode of the PFP Section podcast, Andrea Millar, RLP®, CPA/PFS, interviews Debbie Taylor, CPA/PFS, JD, to get her take on how to deliver the services that will make the largest impact for clients. They discuss:

How do advisors add value beyond basic tax compliance and investment management?
What is the breadth of services that clients expect?
Are those services actually being delivered?
What is the “client value ladder”?
How can technology advancements help with adding value?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Use the AICPA’s Personal Finance Scorecard to broaden conversations with clients.
Read the Technology for a Tax and Financial Planning Services Business Guide.
Learn about the ratings of financial planning technology in the annual T3 survey results.
Review the technology possibilities in the Financial Advisor Tech Solutions Map.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

When to begin collecting Social Security {PFP Section} Jun 16, 2023

The decision to wait until 70 to collect Social Security compared with starting as soon as possible is not as straight forward as it may seem. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS interviews expert Ted Sarenski, CPA/PFS to gain more insight into how to guide clients forward. They discuss:

What are the factors that need to be considered when making this decision
The straightforward scenarios and when things get more complex
Weighing the importance of winning the Social Security game or enjoying a comfortable retirement
How do CPA financial planners’ approach recommendations to be consistent and give their clients the best advice

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Read Ted’s Guide to Social Security Planning.
Hear Ted’s recent webcast on this topic.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to maximize post-mortem IRA wealth transfers {PFP Section} Jun 09, 2023

SECURE 1.0 eliminated life expectancy distributions apart from eligible designated beneficiaries. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS provides a refresher of how the rules work and client examples to illustrate what needs to happen to maximize IRA wealth transfers. He shares:

What happens in 90% of cases
How the 10-year works before and after the required beginning date
How to manage the 10-year rule from a mathematical perspective when RMDs are required
Why every client scenario needs to be customized

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Four ways to achieve portability {PFP Section} Jun 02, 2023

Portability allows a surviving spouse to add the exemption of the first spouse to die to their exemption for estate tax purposes. This happens automatically on a timely filed estate tax return unless intentionally electing out of portability. The nuances come in when you need to file an extension to give more time to see which strategy works best or when filing an estate tax return wasn’t necessary at the time of the first to die. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, discusses:

The four ways that you can carry out portability for your clients
When it makes sense to extend the 706 return to buy more time
What your surviving spouse client can do if within 5 years of their spouse passing away
How to file for 9100-3 relief, if needed

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Dave Stolz {PFP Section} May 26, 2023

Dave Stolz started out as a music major and shifted to business and being a CPA along the way. His journey deeper into financial planning began when he lost his dad. This tragedy shifted his perspective on life and took him in a new direction. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Dave to learn how he created his financial planning practice and much more. Dave answers the following questions:

How did you create the successful financial planning firm you have today?
What did you do to shift tax clients to personal financial planning clients?
What’s most enjoyable in your day-to-day work?
How did you end up specializing in divorce planning and writing a book?
How are you designing a succession plan that is best for you, your colleagues, and your clients?
What are your thoughts on PFS and the future of the CPA financial planning profession?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next Advanced PFP Conference @ ENGAGE from June 5th through 8th, 2023.
Register for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. You can attend in person or online.
Register for the next PFS Live workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The best estate planning ideas for large IRAs {PFP Section} May 19, 2023

Bob Keebler, CPA/PFS, discusses the techniques that make the most sense when you have a client who wants to maximize the wealth transfer of their large IRA. Bob walks you through the considerations in the following areas in this episode of the PFP Section podcast.

The payout rules
Roth conversions
CRTs
IRA relocation

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Use the Guide to Financial & Estate Planning as a reference library to research issues related to financial and estate planning.
Find Bob Keebler’s latest Roth conversion decision chart in the Proactive Planning Toolkit.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to reduce overwhelm for your clients {PFP Section} May 12, 2023

As financial planners, we have deep technical knowledge. It’s a gift to take that expertise and deliver it in a way that simplifies concepts and ties back to what is most meaningful for your clients. In this episode of the PFP Section podcast, Andrea Millar, CPA/PFS, interviews Christine Moriarty to get her take on how to reduce overwhelm for clients. They discuss:

How to be a thinking partner with your clients
How to get clients to open up and share their biggest concerns and hidden agendas
What can help clients be willing to share their values, goals, and desires
What are some ways to reduce overwhelm when it comes to money management and taking steps forward

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to relevant episodes such as:

Deeper CPA Financial Planner Connections with Dr. Haesun Moon
Understanding the Human Side of Life Transitions with Susan Bradley
How to Guide Clients Towards Their Preferred Futures with Dr. Moon

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

When it makes sense to relocate an IRA to a life insurance policy {PFP Section} May 05, 2023

If you are approached by clients or other advisors who think it makes sense to move money from an IRA to a life insurance policy, take a look before you throw out the idea. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, shares situations and considerations where this strategy may be prudent. He discusses:

Why it works best for clients with a federal and state estate tax
Other factors that make this worthwhile such as tax arbitrage and getting the life insurance out of the estate
The importance of the policy being designed correctly and shopping around to get the best ROI
Client examples to illustrate when this strategy works

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Review Bob Keebler’s latest decision charts in the Proactive Planning Toolkit, including the Roth conversion decision chart.
Listen to Susan Bruno’s podcast series on life insurance with other experts.
Gain more expertise with the AICPA’s Risk Management and Insurance Planning Certificate.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Dr. Haesun Moon {PFP Section) Apr 28, 2023

In this special episode of Deeper CPA Financial Planner Connections, Dr. Haesun Moon is back by popular demand. In her fist podcast, she described her simple coaching model that can be used to have more effective conversations with clients and anyone you care about in your life. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Haesun to help you put her communication framework into practice. Dr. Moon answers the following questions:

How do we integrate the 4-quadrant model in practice?
How does listening for what’s the matter point us to what matters most to the client?
What key insights have you taken away from listening to 1000s of coaching conversations?
How can we have empathy for the client while also keeping focused on what they want most?
What’s the difference between coaching and consulting?
How can tiny nuances in words have a huge impact?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to Dr. Moon’s first episode, How to guide clients towards their preferred futures.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Roth conversion planning in 2023 {PFP Section} Apr 21, 2023

Best practices on how to view Roth conversions has shifted now that SECURE 2.0 has changed the age for required minimum distributions up to age 75 beginning in 2033. In this episode of the PFP Section podcast, Bob guides you with what to be thinking about as you make decisions with your clients this year, including:

Tax brackets, outside funds to pay the tax on the conversion, and deferral have always been the main factors in deciding whether converting to Roth makes sense
When looking at the brackets and tax rates in the year of conversion versus the year of withdrawal, look through the eyes of the married couple, the surviving spouse, and the children
Understand the charitable intent of your clients and what they have that will offset the conversion income
How the SECURE Act, estate taxes, GST, and special needs trusts impact decision making

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Review Bob Keebler’s latest decision charts in the Proactive Planning Toolkit, including the Roth conversion decision chart.
Check out Ross Riskin’s chart, Visualizing Roth changes from SECURE 2.0.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to engage the next generation of clients and advisors {PFP Section} Apr 14, 2023

Are you looking for ways to deepen relationships with next generation clients and staff? In this episode of the PFP Section podcast, AICPA PFP Standing Ovation Award recipient Akeiva Ellis, CPA/PFS, shares how she keeps her younger clients feeling cared for and important. She also shares tips on what to think about to attract talented next gen advisors to your firm. Akeiva answers the following questions:

What is the definition of next gen?
What are some ways you have engaged these clients in your work?
How do you run family meetings to keep all generations connected?
How can firms of all sizes approach deepening these relationships?
What can firms do to attract young talent?
What’s the top takeaway you’d like our audience to leave with today?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Use the PFP Section member benefit, Broadridge Advisor, to communicate concepts to your clients.
If you are a 40 and under CPA/PFS and you haven’t been recognized with the PFP Standing Ovation Award, make sure to get your nomination in by April 28th.
Apply for the P. Thomas Austin Personal Financial Planning Division Scholarship that covers the registration fee for an emerging CPA to attend the 2023 Advanced Estate Planning Conference at AICPA ENGAGE.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Planning for the surviving spouse: Part 3 {PFP Section} Apr 07, 2023

When planning for the surviving spouse with your client’s attorney, it’s important to address issues while both spouses are alive to arrive at the best outcomes. In part three of this PFP Section podcast series, Paul Hood, JD, LLM, walks you through what may occur after the first spouse dies that should be built into the estate plan. He discusses the following issues to consider:

Cashflow
Backup fiduciaries
Managing incapacity
Blended families
Estate tax apportionment
Income tax basis possibilities

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to part 1 and part 2 of this series.
Use the Guide to Financial & Estate Planning as a reference library to research issues related to financial and estate planning.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Susan Tillery {PFP Section} Mar 31, 2023

Susan Tillery, CPA/PFS, began her career journey in tax and eventually landed with her own fee for service financial planning firm that she owns with her husband, Tom. Their firm is designed to provide education and planning to their clients, and they team with other advisers to manage investments and do the tax compliance work. They also provide education and other resources to CPAs who want to add financial planning to their offerings. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Susan. Susan answers the following questions:

How did you land where you are now and what services do you offer clients?
How did you divide responsibilities between you and your partner?
What led you to teach other CPAs how to implement your business model and how do you do this?
What has been most important to you about the AICPA PFP community?
What’s your best advice for those adding financial planning to their services?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next Advanced PFP Conference @ ENGAGE from June 5th through 8th, 2023.
Register for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. You can attend in person or online.
Register for the next PFS Live workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Biden’s 2024 budget proposals that impact individuals {PFP Section} Mar 28, 2023

President Biden’s fiscal year 2024 budget proposal includes many familiar changes that we have seen in past proposals. It’s difficult to predict whether these will come to fruition though it will be important to get ahead on having conversations with your higher wealth clients so that there are no unexpected surprises. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, covers the major tax provisions that will impact your individual clients if enacted, including:

An increase in the net investment income tax rate and scope for those with income over ~$400k
An increase in the top marginal rate to 39.6% for those with income over ~$400k
Taxing long term capital gains and qualified dividends at ordinary rates when taxable income is over $1M
Limits on retirement contributions for high income taxpayers with large IRA balances
Taxing unrealized capital gains at death and at time of gifting when above the exemption amount
Elimination of the back door Roth IRA
And much more!

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links.

Read more about the Biden proposal in this article.
Find Bob Keebler’s latest decision charts in the Proactive Planning Toolkit.
Read in depth details of the current law in the Guide to Financial & Estate Planning.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What to watch out for with trust terminations {PFP Sections} Mar 24, 2023

Note that this episode was recorded prior to the effective date of SECURE 2.0 which allows for 529 funds to be rolled into Roth IRAs in certain circumstances.

Trust terminations can become complicated when beneficiaries decide to go their separate ways and break up the trust. The IRS views this transaction as a sale of the interest in the trust for cash or assets and a gain is triggered. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Ed Morrow, JD, LL.M. They share:

When IRC Section 1001(e) kicks in
How the interest is calculated for the life and other beneficiaries
When the basis is determined to be zero for the income beneficiary
Many examples to make the scenarios and implications clear
What tax preparers need to make sure they know

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Find Bob Keebler’s latest decision charts in the Proactive Planning Toolkit.
Learn more about trust planning in the Adviser’s Guide to Financial & Estate Planning.

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 to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Non-retirement reasons to invest in a Roth IRA {PFP Section} Mar 17, 2023

Guest: Kelley Long, CPA/PFS

The flexibility and advantages of Roth IRAs makes them highly desirable for planning that goes beyond retirement funding. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, discusses situations where it may make sense to use a Roth IRA, including:

Getting around the psychological barrier for clients who don’t want their money tied up until age 59 ½
Serving as an alternate emerging savings fund
Funding first time home purchases
Setting up a supplemental education savings account

Note that this episode was recorded prior to the effective date of SECURE 2.0 which allows for 529 funds to be rolled into Roth IRAs in certain circumstances.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Learn about the option to roll excess 529 plan funds into Roth IRA accounts in this podcast with Ross Riskin, CPA/PFS

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Five tips to keep employees engaged in a hybrid work environment {PFP Section} Mar 10, 2023

If you’re currently working in a hybrid environment or running a business that is managing this structure, tune in to hear best practices for keeping employees engaged in this episode of the PFP Section podcast. Kelley Long, CPA/PFS, discusses 5 tips, including:

·How to keep the office and remote workers connected and invigorated.
·How to help employees avoid burnout.
·What to consider with the home office reimbursement policy.
·Acknowledging special occasions so as not to create a cultural divide.
·Expressing appreciation goes a long way.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

·Get other ideas for your business in the series, A Business Owner’s Journey to Time, Money, and Mind Freedom.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The New Spousal IRA Election {PFP Section} Mar 03, 2023

The new spousal IRA election in SECURE 2.0 is both novel and complex. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, walks you through the options that need to be considered when a spouse who is 7+ years younger dies first. Bob shares:

The spousal IRA options in SECURE 1.0 and SECURE 2.0
How to know whether you should do a traditional rollover or make the inherited spousal IRA election

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Find other SECURE 2.0 resources in the Proactive Planning Toolkit. You’ll also find updated 2023 decision planning charts here.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Dirk Edwards {PFP Section} Feb 24, 2023

Dirk Edwards, CPA/PFS, designed his financial planning practice to make the complex planning work the centerpiece for his clients. He brings in experts in the areas such as estate, risk management, and investments to implement the planning so that his family clients have the best specialists involved. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Dirk to share ideas that may resonate with others in the community. Lyle poses the following questions to Dirk:

How did you get your PFP practice off the ground and evolve it to where it is now?
Since you don’t manage investments or give investment advice, how do you connect the dots to provide holistic advice?
What billing method has worked well with your practice model?
How did you identify your partner to bring in as your successor?
What’s your best of advice for someone starting a PFP practice or a tax professional adding PFP services to their offering?

Note that this podcast was recorded in August 2022.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next Advanced PFP Conference @ ENGAGE from June 5 through 8, 2023.
Register for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3 and 4, 2023.
Register for the next PFS Live workshop in advance of PFP ENGAGE on June 3 and 4, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Guiding families in their philanthropic endeavors {PFP Section} Feb 17, 2023

Family office clients have complex planning issues. It’s helpful to collaborate with a team of advisors and not feel like you must have all the answers. It is often valuable to begin the engagement by having conversations about what matters most to the family and for their legacy. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck have a conversation with family office expert, Steven Bowles, to discuss how best to support these families in their philanthropic desires. They discuss:

· How to make sure there aren’t gaps in the planning strategies being considered
· Approaches to get clear on how the family views the world and what legacy means to them
· Questions to ask to align the family goals with the best philanthropic strategies

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

· Find relevant charitable planning resources in the Charitable Giving Toolkit.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Rolling excess 529 plan funds into Roth IRA accounts (PFP Section) Feb 10, 2023

SECURE 2.0 allows 529 plans to be rolled into Roth IRAs beginning in January 2024. To learn more about the specifics of what is allowed, Bob Keebler, CPA/PFS, interviews education expert, Ross Riskin, CPA/PFS, in this episode of the PFP Section podcast. Ross responds to the following questions.

What are the primary tax benefits of 529 plans?
What are the most important things to know about the new provision in SECURE 2.0?
Where do we need to seek further clarification and what potential traps do we need to watch out for when rolling 529 plans into Roth IRAs?
What should CPAs recommend to their clients now?

RELATED RESOURCES

Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Find decision charts updated for 2023 in the Proactive Planning Toolkit.
Use the Guide to Education Planning to support your clients.

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.

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. Feedback and comments welcomed at podcast@aicpa-cima.com

A business owner’s journey to time, mind, and money freedom: Part 4 {PFP Section} Feb 07, 2023

Guest: Mackey McNeill, CPA/PFS

In part 4 of this PFP Section podcast series, Mackey McNeill, CPA/PFS, discusses how to keep the annual plan alive through effective measuring. You can use this in your own business and for your relevant clients. Mackey describes the importance of preparing easy and effective reports with visual metrics that anyone can understand. This allows everyone on the team to quickly see where the business is today compared to the goals. The more frequently business owners and their teams keep their attention on the goals and where they are, the more likely they are to make their vision a reality. Hear more about how Mackey creates high level metrics to stay on track with goals in this episode.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

To dive deeper on this topic, register for Mackey’s webcast, The Prosperity Playbook: A Business Owner’s Journey to Time, Mind, and Money Freedom.
Listen to Part 1, Part 2, and Part 3 of this series.
Read the electronic version of The Prosperity Playbook.
Download the Grow Four Ways and Cascading Metrics Process tools.
Access the Take Back Your Time mini course.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

A business owner’s journey to time, mind, and money freedom: Part 3 {PFP Section} Feb 03, 2023

In part 3 of this PFP Section podcast series, Mackey McNeill, CPA/PFS, shows you how to move your big ideas into an actionable framework for the coming year. You can use this in your own business and for your relevant clients. Mackey describes how to use two resources, Grow Four Ways, and Cascading Metrics Process, that you can find in the show notes. She walks you through:

How she took a client from dwindling cashflow and stagnant sales to routine profitability and sales growth by using a clear structure, process, and accountability
What the four ways are to increase sales and the bottom line
How to develop an annual plan using cascading metrics tools

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Download the Grow Four Ways and Cascading Metrics Process tools.
To dive deeper on this topic, register for Mackey’s webcast on February 7th, The Prosperity Playbook: A Business Owner’s Journey to Time, Mind, and Money Freedom.
Listen to Part 1 and Part 2 of this series.
Read the electronic version of The Prosperity Playbook.
Access the Take Back Your Time mini course.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections: 7 lessons learned {PFP Section} Jan 27, 2023

Many CPA financial planners give credit for the career they have created to the relationships they have built within their AICPA PFP community. To spread these stories and pearls of wisdom more broadly, we created the Deeper CPA Financial Planner Connections series in November 2021. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, and Andrea Millar, CPA/PFS, discuss the 7 recurring themes and lessons learned that have played through the many stories shared and what they mean to them, including:

Know yourself.
Be a constant learner and do what is right for your client.
You are the coach to your clients.
Get involved.
Don’t let others define success for you.
CPAs are incredibly well positioned to provide these services to their clients.
Be courageous.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next Advanced PFP Conference @ ENGAGE from June 5th through 8th, 2023.
Register for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.
Register for the next PFS Live workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Slott and Keebler on what to watch out for with SECURE 2.0 {PFP Section} Jan 20, 2023

A lot of information is flying around on the importance of SECURE 2.0 and what this means for retirement planning. Get the bottom line of what you need to think about for your clients in this episode of the PFP Section podcast. Bob Keebler, CPA/PFS, interviews retirement expert, Ed Slott, CPA. Ed shares:

His take on the bill
The issue of needing to take RMDs in years 1-9 when inheriting an IRA from someone who had already begun RMDs was not fixed
His concern with what the replacement of the 50% penalty on missed RMDs may mean
Nuances with IRS rule 72(t)
The importance of thinking about the big picture when deciding whether deferral makes sense
And more

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Save the date for an in-depth webcast with Bob Keebler on February 1st and February 6th from 1:00 to 2:30 pm EST, SECURE 2.0: New retirement planning opportunities for your clients.
Access the Proactive Planning Toolkit for decision charts to use with your clients and more.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Understanding the human side of life transitions {PFP Section} Jan 13, 2023

As CPAs and financial planners, we are trained in the technical skills to help clients plan for transitions such as a business sale, retirement, divorce, or loss of a spouse. What we may not be as prepared for is the human experience that takes place over the years leading up to, during, and settling into a new way of life. The human side is messy and it’s more challenging to see how it influences choices and decisions. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews life transition expert, Susan Bradley. They discuss:

What is the skillset needed for the human side?
How does the approach shift in a voluntary versus forced transition?
Susan’s thoughts on Lyle’s transition predicament
Why it’s important to understand your own personal transition style

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How SECURE 2.0 impacts clients we see in our practices {PFP Section} Jan 06, 2023

Focusing on what you need to know to serve your clients today, Bob Keebler CPA/PFS reviews the changes and their nuances as a result of the passage of SECURE 2.0. Some of the areas highlighted in this episode of the Personal Financial Planning (PFP) podcast include:

Changes in Required Beginning Dates (RBD)
Upcoming changes to IRA and qualified plan catch-up contribution amounts
Allowance for matching contributions for student loan payments
Rules for newly allowed rollovers from 529 plans to Roth accounts
How life annuities have been impacted
Changes to exceptions for early withdrawals from IRAs and qualified plans.
Reduction of excise tax and addition of a correction windows for missed Required Minimum Distributions (RMD.)

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to guide clients towards their preferred futures {PFP Section} Jan 06, 2023

Haesun Moon, Ph.D., is a communication scientist who has a mission to change the world through better conversations. She has created a simple coaching model in which people participate to imagineer and perform their preferred change. Lyle Benson, CPA/PFS, interviews Haesun to understand how her approach can lead to effective financial planning conversations. They discuss:

Why guiding clients towards their preferred future may be more powerful than creating goals
Haesun’s take on empathy and how to keep conversations real and purposeful
How to use the simple coaching model and Dialogic Quadrant tool
How to use coaching to co-construct meaning with clients
Haesun’s take on the use of questions in coaching
What can attendees expect to come away with at Haesun’s session at PFP Summit in January?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Happy 2023 from the PFP EC and PFS CC chairs! {PFP Section} Jan 03, 2023

PFP Executive Committee (EC) chair, Brooke Salvini, CPA/PFS, and PFS Credential Committee (CC) chair, Oscar Vives, kick off the new year in this episode of the PFP Section podcast. They answer the following questions:

What are their 2023 resolutions that may inspire you?
What are the objectives of the PFP EC and PFS CC and how do they support members in financial planning?
What were the committee focuses in 2022 and what is their vision going into 2023?
How can you get connected with the PFP community and the resources to help you help your clients?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023.
Listen to the Deeper CPA financial planner connections series to hear from other members in the PFP community.
Find the resources like Broadridge Advisor, Bob Veres Inside Information, technical and practice guides, and more.
Learn about the multiple pathways to the PFS credential.
Save the date for the next PFS Live workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. If you are interested in running a PFS Live for your firm or group, send an email to financialplanning@aicpa.org.
Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Brooke Salvini {PFP Section} Dec 30, 2022

Brooke Salvini, CPA/PFS, started out in the CPA profession in the traditional way and eventually made her way back to an early seed that planted her desire for personal finance. In this episode of the PFP Section podcast, Lyle Benson connects with Brooke to share her story and how she made decisions along the way. Brooke answers the following questions:

How did you decide to start your hourly advice financial planning firm?
What led you to add investment management and how did you figure out how to do it?
What did you do to develop your people skills?
How have you woven your passions in other areas into your firm?
How have you used technology to make your work more enjoyable and your service more valuable?
What are you predicting for the future of financial planning?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023.
Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Tax planning for bonds {PFP Section} Dec 23, 2022

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.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

A business owner’s journey to time, mind, and money freedom: Part 2 {PFP Section} Dec 16, 2022

Mackey McNeil, CPA, PFS, shares how she took back her time in this episode of the PFP Section podcast.

Guest: Mackey McNeill, CPA/PFS

Do you long for more flexibility and free time in your schedule? In part 2 of this PFP Section podcast series, Mackey McNeill, CPA/PFS, shares her process for taking back her time. Mackey fills you in on how she went from having her hands in everything to designing her business so that it could run without her. She takes you through the 5-step step process that you can use to take back your time.

Guide: choose the feeling most important to you and ask yourself if what you are doing will give you that feeling.
Intention: create an aspirational intention statement that is true to you.
Roles: align the roles in your business so that you can do what makes you most fulfilled.
Structure: create the foundation that will allow you to fulfill your intention and roles.
Test: develop a measure to see if you succeeded in your endeavor.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

To dive deeper on this topic, register for Mackey’s webcast on February 7th, The Prosperity Playbook: A Business Owner’s Journey to Time, Mind, and Money Freedom.
Listen to part 1 of this series.
Read the electronic version of The Prosperity Playbook. Pages 75-85 include more on the 5-step process.
Access the Take Back Your Time mini course.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

A business owner’s journey to time, mind, and money freedom: Part 1{PFP Section} Dec 09, 2022

For the last 20 years, Mackey McNeill, CPA/PFS, has been working on building and delivering Prosper for Business. This life changing system has facilitated her clients to achieve the 3 freedoms of money. The methodology is relevant whether you are a CPA financial planner with your own practice or you are advising clients on their businesses. In part 1 of this 4-part series, Mackey shares:

How she went from having the largest CPA firm in her city to intentionally pulling it apart and redesigning her business
What she learned about humans and change that helped her make a larger impact in the lives of her clients
Why CPAs have an advantage over others when it comes to coaching
The five rungs of the Prosperity Ladder
The upside of open book management

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

To dive deeper on this topic, save February 7th as the date of Mackey’s webcast, The Prosperity Playbook: A Business Owner’s Journey to Time, Mind, and Money Freedom (registration coming soon!).
Read the electronic version of The Prosperity Playbook.
Review the Prosperity Ladder
Access the Take Back Your Time mini course.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Year-end charitable giving ideas {PFP Section} Dec 02, 2022

Holiday season is a great time of year to discuss philanthropic intent with your clients. This brings together the year-end planning opportunity to maximize tax deductions and the time of year to have purposeful conversations with family on causes that matter. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck share ideas to consider with your clients as the end of the year approaches, including:

A smarter way to give than writing checks
Using a Donor Advised Fund (DAF) to receive the charitable deduction while also giving breathing room to make decisions on where to give
Using charitable donation strategies to offset taxable income
Connecting the private foundation to a DAF to make the 5% annual requirement more effective
The philanthropic approach to minimizing tax on Roth conversions in a down market

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Chapter 5 on charitable giving in the Guide to Financial & Estate Planning
Analysis of a tax return for financial planning opportunities checklist (includes a section on charitable giving)
When a donor advised fund is right for your client
An example of a scholarship fund
How to direct a QCD that is an alternative to the DAF

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Using SLATs and other techniques for estate planning now {PFP Section} Nov 29, 2022

Clients have three years left to use the enhanced unified credit before it gets cut in half. Putting holistic techniques in place that consider tax, financial planning, and asset protection sooner rather than later will be important. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Marty Shenkman, CPA/PFS, JD, and Jonathan Blattmachr, JD, to get their thoughts on using SLATs and other strategies. They answer the following questions:

How do SLATs work?
Why are SLATs and other techniques effective for clients who won’t be subject to the estate tax even when the unified credit is cut in half?
Why is it important to mix and match techniques like SLATs, DAPTs, hybrid DAPTs, and SPATs to get the best results for your clients?
What are the most critical considerations for making sure that your clients get the most access to these trust assets?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access Steve Oshins estate and trust decision charts.
Access Bob Keebler’s decision charts in the Proactive Planning Toolkit.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Mark Astrinos {PFP Section} Nov 25, 2022

Mark Astrinos, CPA/PFS, has made some bold and scary moves in his career to land where he is now with his own financial planning firm. In this episode of the PFP Section podcast, Lyle Benson facilitates Mark to share his story and the wisdom he has gained. Mark discusses:

Why and how he made moves from audit to tax to financial planning to business owner
How he got clear on his vision for his life and work and made it happen
What he did to move beyond the fear of putting everything on the line when he started his firm from scratch
Why he decided to purchase another firm
The value he brings to the table that differentiates him from other financial planners
His thoughts on the AICPA PFP community and the future of financial planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023.
Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to prudently give to charities around the world {PFP Section} Nov 22, 2022

Interest from US donors to be philanthropic to causes overseas is picking up steam. This is often happening without the knowledge that there are ways to do this in a manner that incorporates due diligence and tax benefits. In this episode of the PFP Section podcast, Jonathan Gassman, CPA/PFS, Rick Peck (NH Charitable Foundation), and Brooks Reid (CAF America) walk CPA advisors through what they need to be considering with their relevant clients. They answer the following questions:

What are the 3 main considerations in cross border giving?
How do you receive a tax deduction when donating outside the US?
What due diligence needs to be done to make sure the charity is on the up and up?
Are there resources to make this process more seamless for CPA advisors and their clients?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn more about CAF America and giving overseas.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Midterm election results and planning for your clients {PFP Section} Nov 14, 2022

As we look to the results of the midterm election, it appears that we will have a divided government in 2023-2024 and we will need to carefully consider the impact on our clients. Year-end planning could include tax loss harvesting for crypto, new energy provisions and investments, Roth conversions and filling up the 22% and 24% tax bracket. We will also need to give careful consideration to the preparation for the sunset of the Tax Cuts and Jobs Act of 2017 regarding the federal gift and estate tax exclusion. As you approach this with your clients, conversations and plans will need to be developed in preparation for the changes happening in 2026. In this PFP Section podcast, Bob Keebler, CPA/PFS also addresses the following:

What is going to happen to SECURE 2.0?
Will the EARN Act pass?
Will there be an Extenders package?
Will there be an update to the 10% penalty connected to a corrective distribution?
Will there be a change in the required beginning date (RBD)?
Will there be changes to Substantially Equal Periodic Payment (SEPP) rules?
Will there be changes to the grantor trust regulations?
Will the Corporate Transparency Act be passed?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn more about this and other year-end planning strategies at Bob Keebler’s webcast on November 17th and 28th (free with CPE for PFP Section members).
Find Bob’s decision charts in the Proactive Planning Toolkit, exclusive to AICPA PFP Section members.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Surviving spouse planning using QTIP trusts {PFP Section} Nov 11, 2022

QTIP trusts often allow the testator to have it all by having peace of mind that their surviving spouse will be cared for during their lifetime at the same time as passing assets to heirs of their choosing after the surviving spouse’s death. In this episode of the PFP Section podcast, Paul Hood, JD, LLM, dives into planning for the surviving spouse. He discusses:

The pros and cons of using a QTIP trust
The difference between a gift tax and estate tax QTIP election
Conflicts of interest that can arise between income and principal beneficiaries
Alternatives to using QTIP trusts

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access more on planning for surviving spouses in Guide to Financial & Estate Planning, updated in 2022.
Listen to part one in Paul’s surviving spouse planning series.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Harvesting losses without triggering a wash sale {PFP Section} Nov 04, 2022

2022 has been a volatile year in the stock market. Year-end planning will undoubtedly include tax-loss harvesting to offset capital gains for many clients. As you approach this with your clients, it’s important to keep the wash sale rules in mind. In this PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Mark Fichtenbaum, CPA. Mark answers the following questions.

What is the intent of the wash sale rules and what are some simple ways around this?
How can you structure a transaction to keep the same position and realize a loss?
How do these rules apply to cryptocurrency?
What do planners need to watch out for with mutual fund capital gain dividends?
What do planners need to think about related to clients who have passed in the last 15-20 months?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn more about this and other year-end planning strategies at Bob Keebler’s webcast on November 17th and 28th (free with CPE for PFP Section members).
Find Bob’s decision charts in the Proactive Planning Toolkit, exclusive to AICPA PFP Section members.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app

Deeper CPA financial planner connections with Mackey McNeill {PFP Section} Oct 28, 2022

Mackey McNeill, CPA/PFS, has evolved from a business owner providing traditional accounting services to owning three companies to serve her business owner, business, and personal financial planning clients. She has also gone from running the businesses to handing that duty off and working part time to fulfill other areas of her life. In this episode of the PFP Section podcast, Lyle Benson facilitates Mackey to share her story and what she has learned along the way. Mackey talks about:

How identifying her vision and her why for what she does has guided her decision making along the way
What she does to holistically integrate all the needs for her clients with prosperity and intention as the common thread
How she was able to prove that she didn’t need to run the business day to day
The importance of living life from the inside out
Her prediction for the future of financial planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023.
Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Six key financial challenges for foreign citizens moving to the US {PFP Section} Oct 21, 2022

Andrew Fisher, CPA, CFA, has had a long-held passion for international travel, culture, and business. He has made it his career to weave this together with his interest in finance. For twenty years he has been serving his private wealth clients in the niche of cross-border planning. He currently focuses on the community of foreign-born citizens who have moved to the US. In this episode of the PFP Section podcast, Andrew shares highlights of the six financial challenges to be aware of as you serve these clients.

Optimal tax planning
Saving strategies
Real estate
US immigration milestones
Planning for cross border retirement
Global estate planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Join Andrew at the upcoming AICPA Personal Financial Planning Summit as he leads a panel discussion on the benefits of having a niche. Register by October 31st to receive the lowest pricing. PFP/PFS members receive an additional discount.
Read Andrew’s insights on cross-border planning tax complexities.
Listen to a primer on international and cross border planning.
Get ideas for how to support clients with international and cross border questions.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Three common but underutilized features of 401k plans {PFP Section} Oct 14, 2022

401k plans offer sophisticated resources that your clients may not know about. These tools can supplement the advice that you offer so that your clients are best prepared for their future retirement. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, discusses who can benefit from the use of these tools and how they can help you in your practice. Kelley covers the ins and outs of:

Auto escalators
Investment education and guidance built into 401k platforms
General financial wellness benefits

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Guide to practical retirement planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to support clients with international and cross border questions {PFP Section} Oct 07, 2022

International and cross border financial implications are extremely complex. This is an area that likely requires speaking with other knowledgeable advisors before giving your clients recommendations and advice. In this episode of the PFP Section podcast, Global Financial Planning Institute Founder, Ashley Murphy, answers the following questions:

What are the operational challenges facing advisors working with these types of clients?
How does international planning differ from cross border planning?
What financial issues are involved in each phase of the expat move?
Where can financial planners go to get the help they need with these client questions?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Listen to the first episode in this series.
Increase your knowledge in U.S. international tax with the AICPA certificate.
Visit the GFP Institute to find referral sources or to pursue additional education.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Helping clients through natural disasters {PFP Section} Oct 03, 2022

Experiencing hurricanes, fires, and other disasters is overwhelming. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews disaster expert Jerry Schreiber, CPA, to discuss how CPAs can best support their clients through these events. Jerry answers the following questions:

What defines a casualty or disaster loss?
What are the primary authorities to figure out valuations, losses, etc.?
How has the insurance market changed over the years with claims, premiums, and deductibles?
How can CPAs best support clients facing a current or imminent disaster?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Aftermath of a natural disaster checklist
Dealing with catastrophic property loss
Disasters and Financial Planning: A Guide for Preparedness and Recovery
If you are personally affected by disasters of any kind, please consider applying for assistance through the AICPA Benevolent Fund. If you’d like to help fellow members in need, you can make a contribution here.
The IRS has provided tax relief, including extended filing deadlines and dyed diesel penalty relief for taxpayers affected by Hurricane Ian; see the IRS’s Help for Victims of Hurricane Ian webpage for the latest updates. Additional information can be found on the IRS’s Tax Relief in Disaster Situations page and on the U.S. Small Business Administration’s Disaster Loan Assistance.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How IRAs can be used to help victims of a natural disaster {PFP Section} Oct 03, 2022

Hurricanes Ian and Fiona and Typhoon Merbok are the latest natural disasters in the US to leave many people in a state of emergency. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews IRA expert Sarah Brenner, JD, to discuss the implications of taking withdrawals from IRAs during times of hardship. They share:

Is there penalty and tax relief for those who face financial hardship in natural disasters?
What help can IRA owners expect from Congress and the IRS?
How can people use their IRAs to help hurricane victims?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Aftermath of a natural disaster checklist
Dealing with catastrophic property loss
Disasters and Financial Planning: A Guide for Preparedness and Recovery
If you are personally affected by disasters of any kind, please consider applying for assistance through the AICPA Benevolent Fund. If you’d like to help fellow members in need, you can make a contribution here.
The IRS has provided tax relief, including extended filing deadlines and dyed diesel penalty relief for taxpayers affected by Hurricane Ian; see the IRS’s Help for Victims of Hurricane Ian webpage for the latest updates. Additional information can be found on the IRS’s Tax Relief in Disaster Situations page and on the U.S. Small Business Administration’s Disaster Loan Assistance.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with David Oransky {PFP Section} Sep 30, 2022

David Oransky, CPA/PFS, took the leap to start his own financial planning firm from scratch at the age of 26. He has come a long way and shares his story and pearls of wisdom in this episode of the PFP Section podcast guided by Lyle Benson, CPA/PFS. David discusses:

How he went from being an auditor in a big 4 firm to figuring out financial planning was the right path for him.
What he did to evolve his firm intentionally over time from the clients he works with to how he bills for his services.
Why he grounds his financial planning with life planning and how he developed these skills.
How he merges his loves of the big picture with the nitty gritty and solving puzzles, all while applying this to clients to make it meaningful.
What he found most surprising about the AICPA PFP community.
His thoughts on Bitcoin, the future of the CPA financial planning profession, and what those starting out should focus on to be successful.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Listen to other episodes in this series.
Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023.
Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The best treatment for a spousal inherited IRA {PFP Section} Sep 23, 2022

Spouses receive the best deal when it comes to being an eligible designated beneficiary. There are three options for what can be done when a spouse inherits an IRA from their deceased spouse. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Natalie Choate, Esq., to discuss the choices so that you can implement the most effective strategy for your clients. They discuss:

The three options and which is the best route
The better deal that spouses receive as eligible designated beneficiaries
When it makes sense to deviate from the best route

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Make use materials in the Proactive Planning Toolkit.
Don’t miss Bob’s free CPE year end planning webcast, included with PFP Section membership.
Read Natalie’s free download of Estate Planning for Retirement Benefits Under SECURE and Proposed Treasury Regulations.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The impact of inflation on retirement planning {PFP Section} Sep 16, 2022

Many professionals haven’t gone through a period of high inflation like we’re experiencing now. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Wade Pfau, PhD, CFA, to get you up to speed with what to be thinking about for your clients nearing and in retirement. Wade answers the following questions:

Why is investing for retirement different from pre-retirement?
How do risks change in retirement?
What is the difference between investment risk and sequence of returns risk?
What is the idea behind a "safe withdrawal rate"?
Is the 4% rule a useful guideline for retirees?
What is the impact of low interest rates and high market valuation levels on withdrawal rates?
What is the impact of higher inflation on safe withdrawal rates?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access the Proactive Planning Toolkit.
Don’t miss Bob’s year end planning webcast, included with PFP Section membership.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Building business owner wealth with tax advantaged plans {PFP Section} Sep 09, 2022

Business owners can accumulate significant wealth by making use of a combination of defined benefit and defined contribution plans. In this PFP Section podcast, Bob Keebler, CPA/PFS, interviews actuarial expert Neil Shore. Neil provides insight into the most effective way to help your business owner clients build their retirement nest egg. Neil responds to the following questions:

What are the advantages for the business to sponsor a qualified retirement plan?
What are the possibilities when you combine a defined contribution and defined benefit plan?
Should the costs of these plans give a business owner pause?
How do you choose a qualified service provider?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access the Proactive Planning Toolkit.
Don’t miss Bob’s year end planning webcast, included with PFP Section membership.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Planning for the surviving spouse: Part one {PFP Section} Sep 02, 2022

Too often estate planning is done without careful consideration for the surviving spouse. This can lead to unintended consequences that may be very damaging. In this episode of the PFP Section podcast, Paul Hood, JD, LLM, provides pointers that will support CPA financial planners to work effectively with attorneys to protect the long-term best interest of the surviving spouse. Paul discusses:

What to pay special attention to that is often missed in planning for the surviving spouse
How to make sure the surviving spouse has a solid plan that provides peace of mind
Using disclaimers and other tax and estate planning tips

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Article: The “Disclaimer” Trust: An Ideal Plan for the Medium Size Estate
In-Depth Practice Guide: Guide to Financial & Estate Planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Lori Luck {PFP Section} Aug 26, 2022

As we have heard often in this podcast series, Lori Luck, CPA/PFS, didn’t take a straight path to becoming a CPA financial planner. Though the knowledge and skills she learned along the way developed her into a CPA financial planner who has clients for life. In this episode of the PFP Section podcast guided by Lyle Benson, CPA/PFS, Lori shares her story and her wisdom by answering the following questions:

Why do the business, finance, and tax skills of CPAs make them strong personal financial planners?
How did your own life events play a role in becoming a financial planner?
How do you offer the full scope of needs for your clients from tax compliance to investment management and all in between?
What is AICPA doing to make sure students know about this career path and serve CPA financial planners throughout their career journey?
What is the future of the CPA financial planning profession?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn about the pathways to the CPA Personal Financial Specialist Credential.
Make use of the resources in the AICPA Personal Financial Planning Section.
Check out the blueprint for the new CPA exam which includes personal financial planning. Submit feedback by September 30th.
Save the dates for PFP Summit taking place in Austin, TX from January 30th through February 1st.
Save the dates for the advanced PFP conference at AICPA ENGAGE at the Aria in Las Vegas from June 4th through 7th.
To listen to more episodes in this series, visit here.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Using IRAs to fund charitable causes {PFP Section} Aug 19, 2022

Clients who have large IRAs and are charitably inclined may benefit from making a qualified charitable distribution (QCD) or naming a charity as the beneficiary of their IRA. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck, ChFC, discuss how to approach these opportunities with clients. They share:

What QCDs are, how they work, and the tax benefits
The clients who are best suited to use this strategy
The options for setting up endowments or scholarship funds with a QCD
Tips for making QCD and beneficiary designations seamless with charities

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Distribute this concept piece on charitable contributions from IRAs to your clients to get ahead on this year-end planning strategy.
Access the Guide to Financial & Estate Planning for more planning tips and techniques.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Three common money mindsets that may be holding your clients back {PFP Section} Aug 12, 2022

There may be subconscious internal barriers to wealth that are getting in the way of the goals and lifestyle that your clients say they want most. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, helps you identify when these money stories have taken control and how to help your clients see the truth of the matter so they can shift their behavior. Kelley shares:

The three most common money mindsets for those who work with CPA financial planners
What to say and do to help your clients see and go beyond their limiting beliefs
When you may need to give the opposite of traditional advice

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Podcast: How emotions affect financial decisions
Upcoming webcast: Women, divorce and money August 16, 2022

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The tax and legal aspects of trust situs {PFP Section} Aug 05, 2022

Where your clients choose to set up a trust can have significant tax and legal ramifications. There are nuances to consider whether you are involved in setting up new trusts for your clients or contemplating moving a trust to another state. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews attorney experts Jonathan Blattmachr and Richard Nenno to get their take on what CPAs and advisors need to be thinking about related to locating trusts. They answer the following questions?

What are the laws of the various states?
How does location of the trustee impact taxation?
What factors are most important for creating a new trust or fixing an existing trust?
How does location impact asset protection?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access Proactive Planning Toolkit for 2022 planning decision charts and the latest leg/reg issues.
Use the Guide to Financial & Estate Planning as a reference library for these issues and more.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Howard Safer {PFP Section} Jul 29, 2022

Howard Safer, CPA/PFS, fell into financial planning when he worked for business owners who valued Howard’s ability to respond to personal finance questions and bring balance to their lives above all other services. He shares his story and nuggets of wisdom in this PFP Section podcast guided by Lyle Benson, CPA/PFS. Howard discusses:

Why trust companies are a great platform for CPAs to provide these services
How CPA tax professionals can provide value in the investment area
Why tax expertise is second to none in being able to provide sound financial planning advice
How he integrates lifestyle planning into his services and how this plays into the future of financial planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access the financial planning checklist to identify opportunities from your client’s tax return.
Use the personal finance scorecard to have your clients rate themselves in the areas of financial planning.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to guide clients going through divorce {PFP Section} Jul 22, 2022

Divorce is often extremely difficult for all parties involved. In this episode of the PFP Section podcast, Dave Stolz, CPA/PFS, shares how to support clients through this challenging time. He discusses:

Lessons in divorce he learned by surveying his clients
How to be with your clients during this emotional time
Roles that CPAs can play and the conflicts to avoid
Why this work is more fulfilling than you may imagine

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Register for Dave’s webcast Women, Divorce, and Money on August 16th or 29th (free with CPE for PFP/PFS members).
Read Dave’s book Women, Divorce, and Money.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

A primer on international and cross border planning {PFP Section} Jul 15, 2022

With 30 million individuals living in the US who were born abroad and 8.7 million Americans living overseas in 180 countries, there’s a good chance you will be approached with cross border and international questions. In this episode of the PFP Section podcast, Global Financial Planning (GFP) Institute founder Ashley Murphy answers the following questions:

What prompted you to start the GFP Institute?
What do advisors need to know about international and cross border planning?
When do you need additional education or an expert on your team to address these issues?
What is unique about US citizens?
What are pitfalls to look out for in these engagements?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Increase your knowledge in U.S. international tax with the AICPA certificate.
Visit the GFP Institute to find referral sources or to pursue additional education.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Five questions to get clients to act on their estate planning {PFP Section} Jul 08, 2022

Estate planning is a hot topic with potential law changes on the horizon and sunset back to the pre Tax Cut & Jobs Act amounts in 2026. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, talks with Frazer Rice, J.D., about effective questions to use to engage with clients to make sure their plan is in order. Some may sense for new clients only and others are good to use to check in with ongoing clients. The questions are:

Do you have an estate plan?
Who prepared the estate plan?
Was your family involved in the estate plan development?
When was the last time you reviewed your estate plan?
Is the estate plan you built properly implemented and funded?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Article: 5 estate plan questions for advisors to ask clients
Practice Guide: 2022 Adviser’s Guide to Financial & Estate Planning Volume 1
Broadridge Advisor: Client friendly communication and education pieces (included with PFP membership)

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Talking to clients about market volatility {PFP Section} Jul 01, 2022

Even if you’re not managing money for your clients, they likely look to you as their CPA to provide a sounding board and peace of mind when they see their hard-earned money in the hands of volatile markets. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, shares how she talks her clients off the ledge so that they don’t make decisions they regret or that aren’t in their long-term best interest. Kelley shares:

Words of wisdom from Psychology of Money author Morgan Housel
Why it’s not effective to get too technical and share statistics from the past when clients are emotional
How to get clients out of their lizard brain and back into their pre-frontal cortex
Strategies to help clients stick to their long-term investment and financial plan

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

How to have transformative conversations

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Akemi Dalvi {PFP Section} Jun 24, 2022

Akemi Dalvi, CPA/PFS, began her career working in audit at PwC. She loved the idea of working more intimately with clients, so she took her dad’s offer to join his financial planning business in 2008 and has since taken over as President. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Akemi. She responds to the following questions:

How did she create a niche practice to serve Japanese Americans?
How did the pandemic lead to endless possibilities for attracting and retaining clients and staff?
What allows her to spend her time on what she loves most?
How does she build her knowledge and community of other advisors?
What do her clients find most valuable about her service offering?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

PFP and PFS members can get a taste of what the PFP Summit community is all about by joining us for a one-hour discussion on June 29th from 1 to 2 pm ET. Cameron Passmore and Jean-Luc Bourdon, CPA/PFS, will share their experiences with having client conversations about their personal finances in times of high inflation, rising interest rates, stock market volatility, and geopolitical uncertainty.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Using oil and gas investments to offset passive losses {PFP Section} Jun 17, 2022

If you have clients with large passive loss carryforwards and you’re looking for ways to absorb these sooner rather than later, investing in oil and gas may be your answer. Join expert Dave Dyer, JD, as he is interviewed by Bob Keebler, CPA/PFS, to fill you in on the opportunities. Dave answers the following questions:

Where are we with oil and gas and what are the long-term prospects?
What is the exception to passive activity rules for certain types of oil and gas investments?
What are the risks to a general partner in an oil and gas partnership?
When does it make sense to enter these partnerships as a limited partner?

Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How the newly proposed clawback regulations impact estate planning {PFP Section} Jun 10, 2022

On April 27, 2022, the IRS released proposed regulations that provide further guidance to the anti-clawback regulations released in 2019. In this PFP Section podcast, Bob Keebler gets you back up to speed on what the 2019 regulations addressed and what you need to be mindful of with the 2022 regulations. He fills you in on how this new guidance applies to estate planning transfers such as notes, GRATs, GRITs, QPRTs, 2701 freezes, and transfers included in an estate.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Read the proposed regulations.
Go deeper into estate planning strategies with the PFP/PFS exclusive Adviser’s Guide to Financial & Estate Planning.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How the new actuarial tables impact estate planning strategies {PFP Section} Jun 03, 2022

Newly proposed actuarial tables were released on May 5th to value annuities, life estates, remainders, and reversions. To guide you in how this impacts current estate planning transactions, Bob Keebler interviews Larry Katzenstein and Vince Lackner in this episode of the PFP Section podcast. They discuss:

The estate planning strategies impacted by the new tables
Planning that may make sense to do before the new tables go into effect
When to use the current tables and when to elect to use the proposed tables
How to navigate these calculations in software programs like Number Cruncher and Tiger Tables

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access the current and proposed tables.
Go deeper into estate planning strategies with the PFP/PFS exclusive Adviser’s Guide to Financial & Estate Planning.
Find Bob Keebler’s 2022 planning decision charts in the Proactive Planning Toolkit.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Scott Sprinkle {PFP Section} May 26, 2022

Scott Sprinkle, CPA/PFS, learned early in his career that financial planning was his passion because of the difference it made for his clients. He plays the role of financial quarterback, touching the ball with every interaction and decision. Tune in and gain ideas for your own practice as Lyle Benson, CPA/PFS, interviews Scott in this episode of the PFP Section podcast. They discuss:

How Scott creates stickiness and long-term relationships with his clients
How he balances doing tax, investment, and financial planning work for multiple generations
What he did to access the network and learning he needed in a small firm environment
His best advice for someone who wants to create a firm like his
Scott’s prediction for the future of financial planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit the landing page for Deeper CPA Financial Planner Connectionsto find other episodes in this series.
Join your community of CPA financial planners at the Advanced PFP Conferenceat ENGAGE on June 6th through 8th.
Attend the Tax and Financial Planning Workshopwith Scott and other CPA financial planners at the Aria or online on June 4th and 5th.
For those who meet the requirements of the CPA/PFS experienced track, you can attend the PFS Live! Workshopon June 4th and 5th.
Access resources to weave financial planning into your tax offerings.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Transitioning to retirement and the 4% rule {PFP Section} May 20, 2022

Retirement is one of life’s most significant transitions because everything changes. Your career likely gives you connection to relationships, meaningful work, a steady paycheck, and a structure to follow. You can give peace of mind to your clients by helping them find purpose in life post retirement and providing guidance so that they don’t fear running out of money. Lauren Minch interviews Oscar Vives, CPA/PFS. They discuss:

What having a greater purpose in life can help clients avoid
The top 2 regrets of the dying that can guide how clients live now
The history of the 4% rule and whether it makes sense to rely on this with your clients
Balancing the risk of overspending and underspending

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Hear more from Oscar and other top experts at the upcoming PFP conference at ENGAGE on June 6th through 8th (attend in person or virtually).
Access the AICPA PFP/PFS exclusive Adviser’s Guide to Retirement Planning.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Common investment mistakes {PFP Section} May 13, 2022

This time of uncertainty and market volatility may lead to an increase in clients making investment decisions that aren’t in their best interest. In this episode of the PFP Section podcast, Lauren Minch, CPA, CFA, interviews Kevin Grogan, CFA, to get his take on common trends he sees with many different types of clients. They discuss:

Making decisions based on what happened recently versus based on the full history
Measuring performance by comparing to the wrong benchmark
How to communicate with clients who compare themselves to others
How to avoid biases and noise with a good process

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Hear more from Kevin and other top experts at the upcoming PFP conference at ENGAGE on June 6th through 8th (attend in person or virtually).
Access the AICPA/Fi360 guide, Prudent Practices for Investment Advisors.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Retiree funding of healthcare prior to age 65 May 06, 2022

Figuring out health insurance for early retirees can be shrouded in confusion, frustration, and mystery. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, discusses options that are available for your clients. She answers the following questions:

What are the options to cover the risks of health-related costs in early retirement?
How do you uncover whether retiree healthcare is available through prior employment?
What are the common misconceptions or overlooked areas with spousal coverage?
Why should COBRA get a closer look?
When are alternative coverage arrangements a good fit?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access the PFP/PFS exclusive Guide to Retirement & Elder Planning: Healthcare Coverage
Hear more from Kelley and other top experts at the upcoming PFP conference at ENGAGE on June 6th through 8th (attend in person or virtually)

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Traps to look out for when IRAs are payable to trusts {PFP Section} May 04, 2022

With the SECURE Act’s 10-year payout rule, it becomes more important to understand how income flows from IRA to trust to beneficiary and the surprising consequences that may arise. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Jere Doyle, JD, LLM. Jere responds to these questions:

From a fiduciary standpoint, what happens when an IRA is payable to a trust?
What unintended results can happen when a QTIP or conduit QTIP is in place?
Why is flowcharting and spreadsheeting how the estate plan will pay out so crucial to planning?
How can separately managed accounts get around the fiduciary accounting income allocation rules?
What changes when paying out from a Roth IRA to a trust?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access the PFP/PFS exclusive Proactive Planning Toolkit to get Bob’s 2022 planning decision charts.
Hear more from Bob, Jere, and other top experts at the upcoming Advanced PFP, Advanced Estate Planning, and Advanced Tax Strategies for High Income Individuals Conferences at ENGAGE in June (attend in person or virtually).

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Ted Sarenski {PFP Section} Apr 29, 2022

Ted Sarenski is in a sweet spot of life where he is doing what he loves most at work and has reaped the benefits of the relationships and business he created. He shares his story in this new podcast series hosted by Lyle Benson, CPA/PFS. Ted discusses:

How he went from doing small firm accounting and tax work to owning a financial planning business that serves the everyday client.
What he did to find a successor that aligned with his values and priorities.
His advice for those who want to create a firm like his.
How he became a Social Security expert and used media to gain awareness for his business.
How the Advanced PFP Conference, PFP Section, and PFS credential shaped his career.
His thoughts on the future of tax and financial planning.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit the landing page for Deeper CPA Financial Planner Connections to find other episodes in this series.
Register for the Building a Tax and Financial Planning Workshop at ENGAGE or online on June 4th and 5th.
For those who meet the requirements of the CPA/PFS experienced track, you can attend the PFS Live! Workshop on June 4th and 5th.
Join your community of CPA financial planners at the Advanced PFP Conference at ENGAGE on June 6th through 8th.
Access Ted’s Adviser’s Guide to Social Security Planning.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Slott and Keebler on the complex new RMD rules {PFP Section} Apr 27, 2022

During tax season, the IRS released SECURE Act proposed regulations that came with some surprises and made calculating RMDs more complicated. In this episode of the PFP Section podcast, Bob Keebler interviews Ed Slott to get you up to speed on the latest. They discuss:

What’s important for CPA financial planners to know about these new regulations
How the IRS’s at least as rapidly rule has thrown a hitch in calculating RMDs
Why the new rules make Roth IRAs more beneficial
What to know about spouses and minor children beneficiaries
Nuances such as the ghost life expectancy rule and hypothetical RMDs

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Dive deeper into this topic with Bob Keebler on May 2nd or May 17th by registering for his webcast, How the 2022 SECURE Act proposed regulations will impact your clients.
Tune in to other recent podcasts on SECURE including The ins and outs of the new SECURE Act proposed regulations and How SECURE 2.0 will impact retirement planning.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Using legacy letters to help clients articulate their wishes {PFP Section} Apr 22, 2022

The term legacy can come across as vague and intimidating. Often it is associated with assets left behind at death. In this episode of the PFP Section podcast, expert Susan Turnbull sheds light on the broader way to view legacy that will support your clients to get in touch with the difference they want to make in the lives of others now and later. Getting clear on these desires will help you to create a more targeted financial plan while also having meaningful conversations with your clients. Susan answers the following questions:

What does legacy mean to you?
Why is it important for advisors to talk with their clients about their vision for their legacy?
What are some ways to approach this discussion with clients?
What is a legacy letter or ethical will and how can advisors use this with their clients?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn more about creating ethical wills and legacy letters in Susan’s webcast on May 3rd and May 16th, Discover how to have impactful legacy conversations.
If you’re interested in resources to have these discussions with clients, visit Susan’s website.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Cryptocurrency: Discover three ways to add value for your clients {PFP Section} Apr 15, 2022

Cryptocurrency has drawn attention in 2022 with super bowl ads, President Biden’s executive order, and its role in the conflict between Russia and Ukraine. In this episode of the PFP Section podcast, Ryan Firth, CPA/PFS, shares how you can add value for your clients who are interested investing in or learning more about virtual currency. Ryan covers:

Tax planning and preparation issues to be aware of, including where you can add your expertise and gray areas that will need your professional judgment to resolve
What you need to consider if you decide to provide crypto investment planning advice to clients
The options for helping clients gain access to cryptocurrencies and the importance of keeping an inventory

Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. If you’re interested in learning more, explore the AICPA Blockchain Fundamentals Certificate.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How SECURE 2.0 will impact retirement planning {PFP Section} Apr 08, 2022

HR 2954, also known as the Securing a Strong Retirement Act, passed the House on March 29th and is now waiting on a vote from the Senate. Bob Keebler, CPA/PFS, shares the sections most pertinent to CPA financial planners in this episode of the PFP Section podcast, including but not limited to:

Section 106 increases the required minimum distribution (RMD) age to 73 beginning on January 1, 2023 and continues to increase the age to 75 by January 1, 2033.
Section 108 increases IRA contribution limits for those age 62 through 64 to $10,000 after December 31, 2023.
Sections 201 and 202 remove RMD barriers for life annuities and qualifying longevity annuity contracts.
Section 601 allows SIMPLE and SEP IRA plans to accept Roth IRA contributions after December 31, 2022.
Various sections provide relief for prohibited transactions, excess contributions, and RMD violations.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Read a Journal of Accountancy article on this topic.
Register for Bob Keebler’s AICPA webcast on May 2nd and May 17th, How the 2022 SECURE Act and SECURE 2.0 proposed regulations will impact your clients. Registration will be available soon.
Use the Proactive Planning Toolkit audio learning to keep up with the latest and to access Bob’s 2022 planning decision charts.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The power of the simplified charitable lead annuity trust (CLAT) {PFP Section} Apr 01, 2022

If you have clients who typically donate between 10k and 50k to charity each year, they may be ideal candidates for the reversionary grantor CLAT (aka simplified CLAT). This planning solution works best in a low interest rate environment. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, Rick Peck, and Brad Gornto discuss:

What is a reversionary grantor CLAT and how does it work?
Who benefits most from this strategy?
What are the tax and other advantages of this technique?
An example with a client who has a spike in income related to a Roth conversion

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Use Broadridge Advisor’s CLAT case study, included with PFP/PFS membership, to explain how a CLAT works.
Read the Adviser’s Guide to Financial & Estate Planning and use this as a reference guide as you advise clients.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The 2023 tax revenue proposals released by the Biden Administration {PFP Section} Mar 29, 2022

On March 28, 2022, the Biden Administration released their 2023 fiscal year budget. The suggested tax reforms give you a heads up on what may be coming so that you and your clients aren’t blindsided and can plan ahead in 2022. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, shares the proposals relevant to CPA financial planners, including:

Higher marginal tax rates for high income earners
Capital gains taxed at ordinary rates when 1M or greater for MFJ
Transfers of appreciated assets by gift or at death taxed as realization events
An additional tax for taxpayers with net worth greater than 100M
The inability to create a trust that includes GST exemptions for more than 2 generations
Limit the use of DAFs to avoid private foundation payouts
End the use of GRATs and IDGTs
And much more

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access 2022 planning decision charts based on current law and audio learning to plan ahead for what may be coming in the Proactive Planning Toolkit.
Read the General Explanations of the Administration’s Fiscal Year 2023 Revenue Proposals.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Beth Gamel {PFP Section} Mar 25, 2022

Beth Gamel, CPA/PFS, has had many wonderful experiences over her 30+ year career as a CPA financial planner. Among other challenges, she was one of the first CPAs to add investment management to her offerings and she had to build her firm from the ground up. She shares her story and the lessons she learned along the way in this new podcast series hosted by Lyle Benson, CPA/PFS. Beth discusses:

How she created a successful retirement transition, financially and psychologically
What she did to attract clients in the early days
What she learned through the volatile investment markets that applies to today
How she mentored her staff to be able to serve the complex HNW clients
What the AICPA PFP community has meant for her success and her friendships

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit the landing page for Deeper CPA Financial Planner Connections to find other episodes in this series.
Use the AICPA PFP Section to help you help your clients by visting us here. If you have questions, contact the PFP team at financialplanning@aicpa.org.
Connect with your community of peers at the PFP conference at ENGAGEand at the pre-conference workshop.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to choose between a donor advised fund and a private foundation {PFP Section} Mar 21, 2022

Making the philanthropic decision between a donor advised fund and a private foundation boils down to three main factors. In this episode of the PFP Section podcast, Paul Hood, LL.M, JD, breaks down key differences between these charitable giving strategies and the factors to guide your conversations with clients, including:

The level of contribution or investment
The importance of retaining control
The family’s ability and willingness to participate in the administration
Other considerations like set up costs and management and compliance fees

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

AICPA members can access more in-depth information on charitable planning in Volume 1 of The Adviser’s Guide to Financial & Estate Planning and the Charitable Giving Toolkit.
Be on the look-out for more from Paul on June 21st in his webcast, Yours, Mine, and Ours: Estate Planning for People in Blended Families (registration coming soon).

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How Medicare enrollment impacts HSA contributions {PFP Section} Mar 11, 2022

It has long been a widely accepted rule of thumb to advise clients who want to work past the age of 65 to enroll in Medicare part A. This episode of the PFP Section podcast covers the caveat to the rule that needs to be considered when clients want to continue to contribute to their health savings account. Kelley Long, CPA/PFS, discusses:

When it makes sense to postpone Medicare enrollment so that your client can continue to fund their HSA
Calculating the 6-month look back period to make sure contributions stop on time and how to fix ineligible contributions made
Examples of how this plays out with a family or a married couple
The power of the HSA post 65

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The ins and outs of the new SECURE Act proposed regulations {PFP Section} Mar 04, 2022

The long-awaited SECURE Act proposed regulations related to post-mortem IRA distributions are finally here. Bob Keebler, CPA/PFS, walks through the latest proposals and shares what you need to know in this episode of the PFP Section podcast. Topics covered include:

2021 RMDs that were missed in the case of death post required beginning date
Key points related to the new proposed regulations compared with the existing rules
When the 5-year rule, 10-year rule, and the life expectancy rule apply
Expansion of the definitions of eligible designated beneficiary, disabled, and chronically ill

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

PFP Section members and PFS Credential holders can follow along with the detailed slides.
Keep up with latest proposals and find the 2022 planning decision charts in the Proactive Planning Toolkit.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Jean-Luc Bourdon {PFP Section} Feb 25, 2022

Jean-Luc Bourdon, CPA/PFS has worn many hats in his career including accountant in corporate America, CPA tax professional, and owning his own wealth management firm. He shares his story and wisdom he has gained along the way in the fourth episode in this new podcast series hosted by Lyle Benson, CPA/PFS. Jean-Luc discusses:

What it takes for CPA firms to be successful in wealth management
His chef’s table ultra-customized approach to his client services
How he learned to be present and empathetic with his clients
His proactive “retirement tribe” framework
How he opened his eyes to the importance of self-care
Why defining purpose and values provides meaning to our lives

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit the landing page for this series and access the first three episodes with Lyle Benson, Michael Goodman, and Sue Stevens.
Use the AICPA PFP Section to help you help your clients by visting us here. If you have questions, contact the PFP team at financialplanning@aicpa.org.
Connect with your community of peers at the PFP conference at ENGAGE and at the pre-conference workshop.
Listen to Jean-Luc’s podcast on how to have transformative conversations.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The intersection of money and memory {PFP Section} Feb 18, 2022

Have you been faced with how to best support clients when you see that their money behavior has changed? With the prevalence of dementia and Alzheimer’s and the related impact on cognitive function, you may very well observe the signs that something is off before others in the family notice. Tune in to this episode of the PFP Section podcast to hear money and memory expert Christine Moriarty answer the following questions:

What are the key points to notice about memory loss?
What is the difference between dementia and Alzheimer’s?
How can CPA financial planners be proactive with these matters from the beginning of the engagement?
What preventative steps can be taken to protect a client’s finances?

This podcast is dedicated in loving memory of Christine Moriarty’s sister, Mary Ellen.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Read Christine’s recent article on how financial planners can work with clients who have dementia and memory loss.
Find other money and memory resources on Christine’s website.
Listen to Reina Schlager’s 6-part series on guiding clients with diminishing mental capacity.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The case for making portability elections {PFP Section} Feb 11, 2022

If you have had clients pass away recently, you will want to talk with their surviving spouse about the option to file to receive the benefits of portability, even if the decedent doesn’t have a taxable estate. Tune in to this episode of the PFP Section podcast to hear expert Steve Siegel, JD, LLM, discuss:

What portability is, how it works, and how to make the election
How you can fix a missed portability election going back to January 1, 2011
The nuances of GST and state estate taxes
Why it is important to make this election to create flexibility in the plan

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Use Steve Siegel’s and Sid Kess’s Adviser’s Guide to Financial & Estate Planning as a reference library for topics like portability and more, exclusive to AICPA PFP Section members.
Register for Bob Keebler’s webcast, Practical Planning Strategies for the Mass Affluent, which will cover portability and more.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Why it may now be easier for clients to retire prior to age 59 ½ {PFP Section} Feb 04, 2022

The timing of this new IRS notice 2022-6 is perfect in this phase when many are reprioritizing their lives and considering retiring early. Up until now, clients have likely been unable to make use of SEPPs because of low interest rates mandated by the IRS in prior guidance. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, shares:

What IRS notice 2022-6 and substantially equal periodic payments (SEPPs) are all about
The significant difference that the 5% interest rate will make in calculating SEPPs
A case study to walk you through how this would impact a 50-year-old client who would like to retire early

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Follow the slides that provide visuals for what is covered in this podcast.
Join Bob for his upcoming webcast, Practical Planning Strategies for the Mass Affluent, where he will cover this notice in more detail.
Access the Proactive Planning Toolkit that includes charts, guides, audio learning, and client facing resources to keep up with the latest laws and proposals.
Read IRS notice 2022-6.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Sue Stevens {PFP Section} Jan 28, 2022

Sue Stevens, CPA/PFS, has forged her own unique path to create her successful financial planning firm. She shares her journey and the wisdom she learned along the way in the third episode in this new podcast series hosted by Lyle Benson, CPA/PFS. Sue shares:

What led her from being a cellist recording albums to becoming a CPA financial planner
How she made the decision to merge her firm with Buckingham Advisors
How her love of music and writing has shaped her work for clients
Her blueprint for a successful life and career (hint, begin with your vision!)
Her predictions for the future of financial planning
What the AICPA PFP community has meant to her work and her life

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit the landing page for this series and access the first two episodes with Lyle Benson and Michael Goodman.
Use the AICPA PFP Section to help you help your clients by visting us here. If you have questions, contact the PFP team at financialplanning@aicpa.org.
Connect with your community of peers at the PFP conference at ENGAGE and at the pre-conference workshop.
Find Sue’s books in her Dreams of Wealth series here!

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The benefits of using ABLE accounts {PFP Section} Jan 21, 2022

Make sure you are making the most of the benefits available for your clients or their family members who have disabilities by tuning in to this episode of the PFP Section podcast. ABLE account experts Anita Kelley, with the Office of Alabama State Treasurer, and Dante Allen, Executive Director of CA’s ABLE Act Board, answer the following questions:

What are ABLE accounts, how do they work, and who is eligible?
How do the state programs differ and how are they similar?
What should clients know to make sure they don’t put other benefits like SSI and SSDI in jeopardy?
How do beneficiaries avoid taxes and penalties on distributions?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access volume 4 of the Adviser’s Guide to Financial & Estate Planning which includes chapter 44 specific to ABLE accounts, including final regulations effective in 2021.
Follow the slides as Anita and Dante discuss the benefits of ABLE accounts. Be sure to look for the additional resources included at the end of the handout.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to guide couples through their retirement quandaries {PFP Section} Jan 14, 2022

Emotion can trump logic at times when making decisions and guiding clients through this may be more complex when advising a couple who is contemplating retirement. In this episode of the PFP Section podcast, Christine Moriarty with MoneyPeace answers the following questions:

What if couples have different ideas of what they want to do in retirement?
How can a couple create a “Budget” for retirement without all the information?
Is it best for all the income – social security to investments - to go to one account and then decide what to do with it each month?
When have you seen that couples have the most disagreements around money?
What if one person is more of a risk taker around investments than the other?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Listen to Bringing together couples and their money and How emotions affect financial decisions

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Discover how to get more out of your client’s life insurance policy {PFP Section} Jan 07, 2022

If you have a client who is considering surrendering a life insurance policy or allowing it to lapse, it is important to first understand the value of the policy and determine if it can be sold for more than its cash value. In this episode of the PFP Section podcast, Susan Bruno, CPA/PFS, and Jamie Mendelsohn, with Ashar Group, discuss:

Why you can’t default to the surrender value as the FMV of the policy
What makes a policy worth more than its cash value
What is most relevant to potential buyers of these policies
How has the pandemic impacted the life insurance marketplace

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Use the keep or sell quiz on Ashar Group’s website.
Listen to part one, part two, and part three of this life insurance series.
Access Susan’s tool to review life insurance policies with clients.
Gain more expertise with the AICPA’s risk management and insurance certificate.
Use the personal finance scorecard to begin planning conversations with clients.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Happy New Year: Looking Ahead to 2022! {PFP Section} Dec 31, 2021

Susan Tillery, CPA/PFS and Dave Stolz, CPA/PFS wish you a happy and prosperous New Year and share what is on their minds as they head into 2022 in this episode of the PFP Section podcast.

As they serve in the last months of their successful tenures as chairs of the PFP Executive Committee and PFS Credential Committee, they share their vision for the CPA financial planning profession and the important milestones that have been achieved in alignment to this vision over the last few years.
They discuss what volunteering has meant to them professionally and personally and the many ways you can get involved to build relationships with your peers and forward the mission of CPA financial planners.
Susan and Dave learn they are on the same page with what they are focusing on with their clients in 2022 and it may inspire you to do the same!

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Attend 2022 Best Planning Ideas for Your Clients and Your Business with a panel of CPA financial planners virtually on January 19th (free with CPE for PFP/PFS members).
Learn about the CPA exclusive PFS credential and the new pathway for experienced CPAs.
Find out about CPA evolution and the new exam that will launch in 2024.
Access the resources available to you as a PFP Section member and PFS credential holder.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Michael Goodman {PFP Section} Dec 24, 2021

Lyle Benson credits much of his career as a CPA financial planner to his interactions with colleagues across the country. He wanted CPAs in all stages of their career to be able to benefit from hearing how fellow CPA financial planners have gotten to where they are now, how they work with clients, and what it has meant for their lives. In episode two of this PFP Section podcast series, Lyle interviews Michael Goodman, CPA/PFS. They discuss:

How Michael brought his love for business and working with people to where he is today
How he made the conscious decision to go from a lifestyle practice to an enterprise
Why just doing it, making mistakes, and learning along the way has been a key to success
What he did to keep a wonderful culture and a team that feels valued during the pandemic
What the AICPA PFP community has meant for him, what sets CPA financial planners apart, and his predictions for the future

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Find the 1st episode in this series featuring Lyle Benson as the interviewee.
Attend 2022 Best Planning Ideas for Your Clients and Your Business with Lyle, Michael, and others virtually on January 19th (free with CPE for PFP/PFS members).
Find resources to help you help your clients through the AICPA’s PFP Section.
Learn about the CPA exclusive PFS credential.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Simulating the benefits of an unlimited Roth IRA with life insurance {PFP Section} Dec 17, 2021

Life insurance can be much more than a death benefit. If properly designed, funded, and managed, it can provide an incredible opportunity to grow and distribute assets tax free. In this episode of the PFP Section podcast, Susan Bruno, CPA/PFS, and Michael Fontanini, with Lion Street, share:

Who the ideal clients are for this strategy
Why this is an excellent way to supplement retirement income
Using this approach as an asset location tool
How to know if this technique beats investing money directly into the market

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Listen to part one and part two of this life insurance series.
Access Susan’s tool to review life insurance policies with clients.
Gain more expertise with the AICPA’s risk management and insurance certificate.
Use the personal finance scorecard to begin planning conversations with clients.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How to have philanthropic conversations with your clients {PFP Section} Dec 10, 2021

You don’t have to be an expert in all of the tools and technical strategies to have meaningful philanthropic conversations with your clients. It’s about knowing how to artfully communicate and bring value to your clients. In this episode of the PFP Section podcast, Jonathan Gassman, CPA/PFS, and Richard Peck, with the New Hampshire Community Foundation, share:

How to incorporate philanthropic planning in your communications with clients
Why engaging with other advisors can deepen bonds with clients
The arc of philanthropy and determining where clients are
How to get involved personally and building firm culture through giving to your community

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Use the personal finance scorecard to deepen conversations with clients.
Help clients see other areas for value added planning with the analysis of a tax return for PFP opportunities checklist.
Access the 4-volume guide to financial and estate planning written by Steve Siegel and Sid Kess.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Bringing together couples and their money {PFP Section} Dec 03, 2021

Getting couples to align their goals and priorities with their personal finances is often easier said than done. This is when the power skills in the non-technical side of personal financial planning become crucial to use. In this episode of the PFP Section podcast, Christine Moriarty, answers the following questions.

How and when do you start the conversation?
Does sharing life have to mean sharing money?
What if couples’ goals around money are different?
How do you support couples to reach agreements about money?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Life insurance: What happened to guaranteed universal life? {PFP Section} Nov 26, 2021

In the past, guaranteed universal life (GUL) was priced well and easy to understand. This permanent life insurance was attractive because the premiums were certain, the policy often went to age 120, and risks were low. In this episode of the PFP Section podcast, Marc Minker interviews experts Susan Bruno and Martin Flaxman to understand the changes he is seeing in practice. They discuss:

Why carriers are withdrawing from offering GUL and what is pushing up the prices.
Why it will now require more analysis to know which type of product is best for your clients.
What are the other product options and how can you simplify decisions in the face of complexity?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Listen to part one of this life insurance series and access a tool that Susan uses to bring clarity and peace of mind to planning.
Find other insurance resources from the AICPA PFP Section.
Learn about the risk management and insurance learning certificate.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Deeper CPA financial planner connections with Lyle Benson {PFP Section} Nov 19, 2021

In the first of this new podcast series, Lyle Benson, CPA/PFS, shares the purpose behind this series as well as his story that led him to where he is now in his tax and financial planning firm. In this episode of the PFP Section podcast, Lyle answers questions such as:

What is his definition of success?
What types of clients does he work with and what services does he provide?
What is his why for doing what he does and what do his clients value most about his work for them?
How did he go from beginning his business to where he is now and who does he credit for his progression?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit the PFP Section for resources to help you help your clients.
Learn about the CPA exclusive PFS credential.
Find resources to add financial planning to your tax practice.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Life insurance: Must know basics {PFP Section} Nov 12, 2021

In the first of this four-part life insurance series, expert Susan Bruno, CPA/PFS, gives a fantastic review of the basics. This episode of the PFP Section podcast will give you what you need to know to educate your clients and make them aware of their options. Susan provides an overview of the following:

The difference in term, whole life, and universal life insurance
A tool that she uses with her clients to do an annual review as part of their comprehensive financial plan
Important requests to make when clients are transferring or selling insurance from one trust to another
How to bring the serving agent or broker into conversations to best serve your clients

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Download Susan’s tool that you can use to do annual reviews with your clients.
Find other insurance resources from the AICPA PFP Section.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Build Back Better Act: Where we are now {PFP Section} Nov 10, 2021

Recorded on November 8th, 2021, Bob Keebler, CPA/PFS, reports on the latest with the Build Back Better Act. In this episode of the PFP Section podcast, Bob shares:

What is in and what is out of the latest iteration of the House bill
What must happen for the House to move forward with a vote
What to expect with the Senate version of the bill and related vote
Planning to consider for clients based on what we know now

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Register to attend Game changing retirement proposals: What to do for clients now.
Keep an eye on the Proactive Planning Toolkit audio learning and PFP News to stay up to date as we learn more.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Designing your business around your ideal client {PFP Section} Nov 05, 2021

The CPA profession has been busier than ever in the past two years with serving clients through the pandemic, responding to additional client needs, juggling complex tax seasons, and keeping up with proposed law changes. In this episode of the PFP Section podcast, Shannon Vincent and Colin Dunn answer the question of how to find time to provide proactive financial planning and wealth management services, including:

Moving from being spread too thin serving many clients to having plenty of time to give stellar service to your ideal clients
Getting reinspired and re-energized by doing a pareto analysis, defining your target client, and owning it
Structuring your services so that they have the best chance of working
Making your staff and your firm your number one client

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit AICPA’s tax and financial planning hub for more resources on how to offer proactive financial planning services.
To gain competence and confidence in financial planning, check out the CPA-exclusive PFS credential.
Learn more about Renew Group.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What is a ‘super HSA’ and how does it work {PFP Section} Oct 29, 2021

Super HSAs allow families who have adult children who are no longer tax dependents to save beyond the annual family limit. This technique works for children who are covered by the family HSA eligible insurance plan. Kelley Long, CPA/PFS, covers the ins and outs of this strategy in this episode of the PFP Section podcast. She answers the following questions:

What is a super HSA?
How does this strategy work, using a family of four as an example?
Where can I find IRS guidance on this topic?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Podcast: Unique and under-communicated HSA benefits
Podcast: The power of planning with high deductible health plans

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The future of Social Security {PFP Section} Oct 22, 2021

The good news is that the 2022 Social Security (SS) COLA adjustment is 5.9%. The bad news is that the Board of Trustees issued their annual report on August 31st and predict that SS funds alone will run out in 2033 and disability funds will run out in 2057. In this episode of the PFP Section podcast, Ted Sarenski, CPA/PFS, shares:

The effects of the pandemic and the 2020 recession on the projections
The three suggestions being made to solve the long-term financial shortfalls
What to include in client projections given the uncertainty of the future
SS planning strategies to maximize the amount received

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Fiduciary income tax planning moves to make now {PFP Section} Oct 15, 2021

If current tax reform proposals become law, there will be many issues to be mindful of with planning for trusts. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, helps you get ahead of these changes so that you can plan for your clients to be ready for impending changes. Bob discusses:

How the proposed higher income tax and capital gains rates will impact trusts planning
The low threshold for trusts that would have the additional 3% surtax, NIIT expansion, and 199A cap kick in
Changes to grantor trusts taxation that will make transactions between grantor and trust pertinent to monitor
Being cognizant of electing fiscal year ends in rising tax rate environments

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Register for our year-end planning webcast that is free with CPE for PFP/PFS members.
Access the Proactive Planning Toolkit audio learning to hear about tax proposals impacting individuals, estates, and trusts.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Year-end planning conversations to have now {PFP Section) Oct 08, 2021

With a lot of unknowns going into the last quarter of the year, top CPA financial planners have been gathering to share conversations that they’re having with clients now. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, reviews a collection of ideas and thoughts that have been discussed in his Athena study group and other CPA financial planner panels. Lyle gives an overview of what he and his peers are talking about with their clients in the following areas:

Income tax planning, including the capital gain rate increase and opportunities for gain harvesting
Retirement planning, from reviewing assumptions used in plans to getting ahead of tax proposals
Estate planning changes and the need to line up attorneys and valuation experts now
Charitable giving strategies such as donor advised funds and making use of the 100% AGI limit for cash contributions
Investment planning, including educating clients about the purpose of bonds in their portfolios
Insurance planning and the renewed interest in ILITs, disability coverage, and annuities

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Register for our year-end planning webcast that is free with CPE for PFP/PFS members.
Access the Proactive Planning Toolkit audio learning to hear about tax proposals impacting individuals.
Access the Adviser’s Guide to Financial & Estate Planning for more on planning with your clients.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app

Income tax reform overview with Bob Keebler {PFP Section} Oct 06, 2021

The House Ways & Means Committee recently released its proposed 2021 tax reform legislation. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, covers the changes being considered that would impact income tax planning, including:

Funding the IRS and using tax reform to improve social safety nets
Additional childcare credits and other dependent care, childcare, and caregiver provisions
Increases to the individual income tax rate, capital gains rate, and 3% surtax over certain thresholds
Expansion of NIIT to business income when over certain thresholds
Cap on the qualified business income deduction under 199A
Wash sale rules applying to cryptocurrency
Executive compensation deduction limited to 1M deduction and other business reforms
Credits for electric vehicles

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Download the slides to follow along with the podcast
Register for our year-end planning webcast that is free with CPE for PFP/PFS members.
Access the Proactive Planning Toolkit audio learning to hear about other tax proposals impacting individuals.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What you need to know about the proposed MEGA IRA rules {PFP Section} Oct 01, 2021

If you have clients with more than 10 million in their traditional IRAs, Roth IRAs, and vested defined contribution plans, they may have to take distributions to keep the aggregate plan balances below a certain threshold beginning in 2022. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, gets you up to speed related to:

The new proposed limits on MEGA IRAs and related forced withdrawals
How the numbers work with the 50% test and the 100% test
The best planning strategies to keep taxable income under 450k (MFJ) / 400k (S) so that the new rules won’t apply
Reviewing Roth conversion rules since this will be a key planning opportunity before year-end

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

In-depth slides to follow along with the podcast
The case for making Roth contributions before year-end
Register for our year-end planning webcast (free with CPE for PFP/PFS members)
Proactive Planning Toolkit (see audio learning for tax reform updates)

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The use or lose it situation with the estate exemption {PFP Section} Sep 30, 2021

The latest proposals suggest that the estate tax exemption may revert back to pre-TCJA levels in January, 2022. In order not to lose the estate tax exemption that exist today, it may be necessary to make use of this exemption before year-end for your relevant clients. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, fills you in on the estate related reform including:

How the estate and gift tax reduction math will work
Forcing grantor trusts to be included in the taxable estate
Elimination of valuation adjustments for non-business assets

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

In-depth slides to follow along with the podcast
Register for our year-end planning webcast (free with CPE for PFP/PFS members)
Proactive Planning Toolkit (see audio learning for tax reform updates)
Why the spousal lifetime access trust is the go-to strategy

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The case for making Roth conversions before year-end {PFP Section} Sep 24, 2021

If you have been contemplating a Roth conversion for yourself or for your clients, you will want to tune in to this PFP Section podcast episode to hear Steve Siegel’s case for doing this before the year ends. Steve discusses his top five reasons for doing a Roth conversion in 2021, including:

Potential limits on Roth conversions in the future
Proposals on elimination of the backdoor Roth
Likelihood of higher tax rates in the future
SECURE Act 10-year rule
Inherited IRA rule limits

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How the latest tax proposals will impact clients {PFP Section} Sep 17, 2021

On September 13th, the House Ways & Means Committee released long anticipated draft legislation which could lead to major tax changes effective January 1, 2022. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, walks you through the key areas of interest so that you can plan ahead with your clients in the event these proposals become law. Bob discusses:

Increases in tax rates over certain thresholds, expansion of the NIIT, a new high-income surcharge, and modifications to 199A
Return of the estate and gift tax exemptions to pre-2017 levels and drastic changes in taxation of grantor trusts
New IRA rules, including mega IRA contribution limits and RMDs, elimination of the backdoor Roth, and more
What this means for clients and the future of planning strategies if the proposals become law

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Article: Ways and Means releases list of tax provisions for budget bill
Legislative text to be incorporated in the budget reconciliation bill known as the “Build America Back Better” Act

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Guiding clients with diminishing mental capacity: Summary {PFP Section} Sep 10, 2021

CPA financial planners are often in a position to be the first to recognize declining cognitive function in a client. Reina Schlager, CPA/PFS, takes you through a summary of her 6-part series so that you can protect your clients financially and ensure a smooth transition of care. She covers:

Does an 18-year-old need a durable POA?
Client experiences to give you ideas of what to look for with your clients
The 9 domains of diminished capacity
The 10 warning signs from the Alzheimer’s Association
Planning while clients are well
Housing alternatives

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Why the spousal lifetime access trust is the go-to planning strategy {PFP Section} Sep 02, 2021

It’s anyone’s guess what will happen with tax laws given all the proposals floating around. If you have clients concerned about losing the estate exclusion available to them today yet they are reluctant to transfer assets outright to children and grandchildren, the spousal lifetime access trust (SLAT) may be the perfect strategy. Tune in as estate planning expert Steven Siegel, JD, LLM, walks you through the ins and outs of the SLAT technique, including:

How the SLAT works to minimize tax and provide asset protection for multiple generations
Why it’s not just for the highest net worth clients
How to get around the risks of death and divorce

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access Steve Siegel’s 4-volume Adviser’s Guide to Financial & Estate Planning, exclusive to AICPA PFP/PFS members.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Guiding clients with diminishing mental capacity: Residential choices {PFP Section} Aug 27, 2021

When you determine that your client needs a plan for transition of care, you will discover that there are endless options. In part 5 of this PFP Section podcast series, Reina Schlager, CPA/PFS, helps you sift through the pros and cons of each so that you can best guide your client. She discusses:

Home and respite care
Ranges of care facilities and how to select the best one
Considerations with a couple
Keeping humanity and kindness at the forefront

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access parts 1 through 4 in this series here.
Guide to Retirement and Elder Planning: Healthcare Coverage Planning
Guide to Retirement and Elder Planning: Social Security Planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Helping clients overcome common investor mistakes {PFP Section} Aug 20, 2021

Investment decisions are often made based on unconscious biases and motivations. When we help our clients understand the why behind their money, they will be able to make informed choices. In this episode of the PFP Section podcast, Join Bob Stammers, CFA and Director of Investor Engagement at CFA Institute and Lisa Kueng, Managing Director at Invesco Global Consulting as they discuss:

Lessons we can learn from Sigmund Freud and athletes
Using visualization techniques to understand subconscious thoughts
The neuroscience between envisioning ourselves doing something and acting on it
An example of how you can do this for your clients

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Article: Investing lessons from Sigmund Freud

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Guiding clients with diminishing mental capacity: Planning while well {PFP Section} Aug 13, 2021

Putting a plan in place prior to recognizing dementia in your clients is ideal. In part 4 of this PFP Section podcast series, Reina Schlager, CPA/PFS, discusses the following:

Why it’s important to act while your clients are healthy
Planning documents and other considerations
Preserving dignity for the impaired client
What can go awry and how to avoid

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access parts 1 through 3 in this series here.
Guide to Retirement and Elder Planning: Healthcare Coverage Planning
Guide to Retirement and Elder Planning: Social Security Planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Guiding clients with diminishing mental capacity: Ten warning signs {PFP Section} Aug 06, 2021

CPA financial planners may be the first to recognize dementia in their client and this can go a long way towards protecting the client’s assets and ensuring a proper care plan is put in place. In part 3 of this podcast series, Reina Schlager, CPA/PFS, discusses the following:

The ten warning signs that your client may be declining mentally
Examples of what to be on the lookout for with these warning signs
What to do once you have identified an issue with your client

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Access parts 1 and 2 in this series here.
Guide to Retirement and Elder Planning: Healthcare Coverage Planning
Guide to Retirement and Elder Planning: Social Security Planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Unique and under-communicated HSA benefits {PFP Section} Jul 30, 2021

As health savings accounts (HSA) are triple tax free (contribution, growth, qualified withdrawals), these accounts, their uses and balances continue to grow. In this episode of the PFP Section podcast, Kelley Long shares advanced strategies and common misconceptions of HSAs including:

Shoe box strategy for HSAs
Using HSAs to address unknowns in retirement
Techniques for HSA funding and providers

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Get up to speed with all the latest proposals and how they may impact your clients with guidance with Proactive Planning Toolkit and Adviser’s Guide To Retirement And Elder Planning Guide.
Listen to Ted Sarenski’s presentation on the Planning With High-Deductible Health Plans

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The impact of the Van Hollen bill on current estate administration {PFP Section} Jul 23, 2021

One of the potential tax changes widely discussed is the replacement of the IRC Section 1014 basis adjustment with gain realization at gift, death, and certain other transfers. In this episode of the PFP Section podcast, Bob Keebler and Marty Shenkman share the impact this could have on clients, including:

The difference between funding trusts on a fractional share basis versus a specific amount
Gains that could be triggered right now for clients who have passed away and how to avoid
Why it may be important to fund trusts quickly after death going forward

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Get up to speed with all the latest proposals and how they may impact your clients with the audio learning in the Proactive Planning Toolkit, exclusive to PFP/PFS members.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Preventing and responding to elder financial exploitation {PFP Section} Jul 16, 2021

Billions of dollars are lost each year due to fraudulent acts against older Americans. In this episode of the PFP Section podcast, Erin Scheithe with the Consumer Financial Protection Bureau (CFPB) gives you tips, tools, and resources to help you and your clients spot, prevent, and report elder financial exploitation. She covers the following topics:

Examples of scams
Who is at risk and who are the abusers?
How to spot, prevent, and report abuse
Resources to help you help your clients

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Find the CFPB resources that Erin mentions at gov/olderamericans.
Access AICPA elder planning resources at aicpa.org/PFP.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How emotions affect financial decisions {PFP Section} Jul 09, 2021

Neuroscience aficionado and financial planner Christine Moriarty has made it her life’s mission to connect psychology to financial planning. In this episode of the PFP Section podcast, Christine answers the following questions to support you to best serve your clients.

Why does psychology matter to financial advisors today more than ever?
What has been the impact of COVID-19 on client relationships?
What are some of the trends that the financial planning profession needs to prepare for in the coming decades?
What practical tips can you give to our listeners that they can implement in their practice now?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Register for Financial Independence: Rethinking Retirement on July 12th or 19th (includes free CPE for PFP/PFS members).
Learn more to have skillful conversations in this podcast with Jean-Luc Bourdon, CPA/PFS.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Middlescence: New age. New stage. Midlife redefined. {PFP Section} Jul 02, 2021

People are going through a reckoning of how they want to operate in the world. How can you make your life the well lived life that you want and do the same for your clients? Lauren Minch interviews gerontologist and life stage expert Barbara Waxman in this episode of the PFP Section podcast. Takeaways include:

The importance of focusing on the life stage versus age
Research on the u-curve of happiness
Why midlife is like adolescence round 2, only better
Helping clients to unlock what they really want

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn in depth from Barbara at her session at the PFP event at AICPA ENGAGE on Monday, July 26th.
Register for Financial Independence: Rethinking retirement on July 12th or 19th (includes free CPE for PFP/PFS members).

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The pros and cons of ESG investing {PFP Section} Jun 25, 2021

There is a large divide between the believers and the skeptics of environment, social, and governance (ESG) investing. In this episode of the PFP Section podcast, Bob Huebscher interviews experts Larry Swedroe and Sam Adams to get their opinions on whether investment performance is sacrificed, or risk is increased when limiting to ESG mandate funds. They fill you in on:

The economic theory and reaching equilibrium
What the major cashflow into green funds means for the long term
What the evidence tells us
The impact on diversification

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn in depth with Bob, Larry, and Sam in their session at the PFP event at AICPA ENGAGE.
Access Bob Veres Inside Information and Media Reviews for other investment ideas.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The unexpected state tax consequences of employees who work from home {PFP Section} Jun 18, 2021

States have ramped up their methods for generating revenue in recent years and the pandemic has added more complexity with many employees working from home. In this episode of the PFP Section podcast, Lauren Minch interviews state tax expert and attorney Mark Klein to get his take on the following topics:

When do employees need to beware of double state taxation?
Are there exceptions to the rules due to the pandemic?
What can an employer do to keep track and make good business decisions?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn in depth with Mark Klein in his session at the PFP event at AICPA ENGAGE.
Get more on the latest planning ideas in our Proactive Planning Toolkit.
Hear from Steve Siegel on changing domicile in today’s environment.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How the President’s Green Book will impact your clients {PFP Section} Jun 11, 2021

On May 28, 2021, the Biden Administration released its “Green Book” for the federal government’s 2022 fiscal year. Tune in as Jonathan Blattmachr, Bob Keebler, and Marty Shenkman share the key items you need to be aware of to get ahead of planning with your clients. They discuss the following topics in this episode of the PFP Section podcast:

What the date of announcement effective date for capital gains tax rates means
Why timing is critical to have discussions with impacted clients now
Planning ideas that will work best with what we know now

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Register for Bob Keebler’s June 14th webcast to learn about all the important tax proposals.
Read The Adviser’s Guide to Financial & Estate Planning.
Tune in to the latest and greatest thinking at the PFP event at AICPA ENGAGE.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Helping clients evaluate their housing options in retirement {PFP Section} Jun 04, 2021

Where we call home became even more important over the last year. In this episode of the PFP Section podcast, Brad Breeding, continuing care retirement community (CCRC) and lifecare community expert, answers the following questions:

Has anything changed in retirement community living with the events of the past year?
What should clients be thinking about to make the best decisions for their living situation in retirement?
Can you highlight some of the overlooked areas that financial planners need to be mindful of?
Are there resources that you can suggest to help our members help their clients?
What’s your best piece of advice for listeners to take away from this podcast?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Visit net to find CCRC resources.
Check out The National Alliance for Caregiving for additional guidance.
Learn more about your state’s long-term care ombudsman program.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Guiding your clients who are financial caregivers {PFP Section} May 28, 2021

There are 40.4 million unpaid caregivers for adults age 65 and older in the US. Many don’t have professional training which can lead to elder financial exploitation. In this episode of the PFP Section podcast, Lisa Schifferle, with the Consumer Financial Protection Bureau’s Office for Older Americans, provides tips and resources for how you can best guide your clients in these situations. She discusses the following topics:

Helping clients get up to speed with their duties
Supporting clients to avoid scams and financial fraud
Resources to make this experience clearer for clients

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Guide: Managing someone else’s money
Podcast: Guiding clients with diminishing mental capacity
Podcast: The financial impact of Alzheimer’s disease

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 6: The new approach to retirement planning: Voice of the client {PFP Section} May 21, 2021

Learn the retirement planning 7-step process that is highly effective for all of Mackey McNeill’s clients even though they have very different personalities and relationships with money. In this episode of the PFP Section podcast, Mackey fills you in on her method and how her clients have thrived as a result. She and Joe O’Gorman provide examples of 3 client relationships to give you the client perspective in this episode of the PFP Section podcast.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Part 1: The new approach to retirement planning: You are in the people business
Part 2: The new approach to retirement planning: Setting the stage
Part 3: The new approach to retirement planning: Gamification
Part 4: The new approach to retirement planning: Investments
Part 5: The new approach to retirement planning: Review meetings
Guide to practical retirement planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 5: The new approach to retirement planning: Review meetings {PFP Section} May 14, 2021

If you’ve wondered how your peers approach their check in meetings with their clients, this episode of the PFP Section podcast is for you. Mackey McNeill, CPA/PFS, shares how she engages with her clients as their lives evolve. She discusses the following ideas:

Invite clients to regularly reach out versus waiting for a set meeting
Encourage them to check in before making any financial decisions so that they understand the trade-offs
Help them embrace changes and know it’s okay to change their mind
Focus on life events and their ratio of success
Go as deep or as high level as the client desires on the investment ins and outs

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Part 1: The new approach to retirement planning: You are in the people business
Part 2: The new approach to retirement planning: Setting the stage
Part 3: The new approach to retirement planning: Gamification
Part 4: The new approach to retirement planning: Investments
Guide to practical retirement planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 5: Important planning strategies in 2021: Roth conversions {PFP Section} May 07, 2021

With tax increases and estate exemption decreases on the horizon, Bob Keebler walks you through several ways that Roth conversions may be beneficial sooner rather than later in this episode of the PFP Section podcast. Some ideas shared include:

The advantages of Roth IRAs for those who will owe estate tax
What to think about for clients with lesser means
Why time is of the essence to look at conversions now
Strategic and tactical considerations
The best candidates and circumstances for Roth conversions

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

How the American Families Plan will impact your clients {PFP Section} May 04, 2021

Guest: Bob Keebler, CPA/PFS

On Wednesday, April 28th, President Biden gave his first congressional address. As part of his plan for the nation, he proposed a long term capital gain rate of 39.6% for households with income over 1 million, restoration of the top marginal tax rate of 39.6% for those earning over $400,000, and elimination of the step up in basis at death. Given the forward momentum for forced recognition of capital gains at death, this episode of the PFP Section podcast covers client scenarios and all the details we know at this point so that you can have initial discussions with clients on what may be ahead.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

A fact sheet summarizing the American Families Plan can be found here.
Parts 1-4: Important planning strategies to consider in 2021
Sensible Taxation and Equity Promotion Act (STEP) of 2021
4-volume guide to financial & estate planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 4: Important planning strategies in 2021: Itemized deductions {PFP Section} Apr 30, 2021

Guest: Bob Keebler, CPA/PFS

In preparation for a potential cap on itemized deductions and restoration of the pease limitation for those with taxable income above $400,000, Bob Keebler covers what to be considering for 2021 planning with clients, including:

Client scenarios that will make timing ramifications significant
The cap on retirement benefits and the resulting negative arbitrage
Weighing state penalties versus the potential for the SALT deduction to come back
Taking QCDs to get the full benefit of a charitable contribution

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Important development with SECURE Act post-mortem distributions {PFP Section} Apr 23, 2021

Guest: Bob Keebler, CPA/PFS

On April 9th, 2021, the IRS released updated Publication 590-B which has caused much confusion with retirement planning experts. In this PFP Section podcast episode, Bob Keebler, CPA/PFS, puts the key aspects on your radar so that you can best advise families you are helping who have experienced deaths after January 1, 2020. He shares:

The thinking prior to release of publication 590-B
The page 12 example which is causing a lot of uncertainty among advisors
Why you will want to delay RMDs until we have further guidance

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 3: Important planning strategies in 2021: Capital gains {PFP Section} Apr 16, 2021

Guest: Bob Keebler, CPA/PFS

Under the Biden proposals, the capital gain and qualified dividend rate will be 39.6% for those with income of 1 million or more. In this PFP Section podcast episode, Bob Keebler, CPA/PFS, helps you get ahead of this with your clients by sharing:

What to be mindful of if we jump to a 39.6% capital gain rate and lose the step up in basis at death
The window of opportunity for adjusting portfolios and realizing gains this year
Why it may not be prudent to fund a CRT in 2021
When it makes sense to sell and pay tax now versus continuing to defer

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Sensible Taxation and Equity Promotion Act (STEP) of 2021 {PFP Section} Apr 09, 2021

Guest: Bob Keebler, CPA/PFS

On March 29th the Senate’s Van Hollen and House’s Pascrell released proposals that would result in the realization of capital gains on the date property is transferred by gift, trust, or death. In this PFP Section podcast episode, Bob Keebler, CPA/PFS, gets you up to speed on the latest, including:

What the proposals say and the similarities and differences in the Senate and House versions
Exceptions for personal property, transfers to spouses, and gifts/bequests to charity
The need to be mindful of the connection between these proposals and others that suggest a 39.6% tax rate on capital gains when income exceeds 1 million
Planning strategies to be prepared if these bills become law

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Find the text of Van Hollen’s proposal here and Pascrell’s here.
For in depth coverage of the current estate, gift, and trust planning strategies that you can take advantage of now for your clients, use the 4-volume Guide to Financial & Estate Planning.
Listen to Bob Keebler’s podcast detailing the For the 99.5% Act here.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What you need to know about the “For the 99.5% Act” {PFP Section} Apr 02, 2021

Guest: Bob Keebler, CPA/PFS

This bill, introduced into the US Senate on March 25, 2021, could lay the groundwork for what’s ahead with changes to estate, gift, and trust rules. If passed, the effective date would be December 31st, 2021 and would result in significant increases to federal estate and gift tax. In this PFP Section podcast episode, Bob Keebler, CPA/PFS, fills you in on:

The key provisions, including a 3.5 million estate exemption, 1 million gift exemption, and a 20k cap on annual exclusion gifts
Changes to the GRAT, grantor trust, and valuation discount planning techniques
Expansion of conservation easements and the special use valuations for farms
What you need to consider with clients before enactment

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

For in depth coverage of the current estate, gift, and trust planning strategies that you can take advantage of now for your clients, use the 4-volume Adviser’s Guide to Financial & Estate Planning.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 4: The new approach to retirement planning {PFP Section} Mar 26, 2021

Guest: Mackey McNeill, CPA/PFS

Mackey McNeill, CPA/PFS, shares when and how she talks about investments with her clients in this episode of the PFP Section podcast. She walks you through her approach to her key ideas including:

If your clients loved investments, they wouldn’t use your services.
At the end of the planning process, refine the plan by developing the investment policy statement while the client is with you.
Talk in plain English and repeatedly ask if anyone has questions while also keeping the conversation focused on the client.
How her process takes more time and investment up front though saves time in the long run and creates lasting clients who refer.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Part 1: the new approach to retirement planning: You are in the people business
Part 2: the new approach to retirement planning: Setting the stage
Part 3: the new approach to retirement planning: Gamification
Guide to practical retirement planning

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Leading effectively in times of high pressure {PFP Section} Mar 19, 2021

Guest: Dr. Eric Bean

Overseeing your team and serving your clients amid a pandemic, tax season, economic concerns, and all else that life brings can be a pressure cooker. Learn how to transform how you face these circumstances from high performance executive coach Dr. Eric Bean in this PFP Section podcast episode. Eric shares:

Three research supported strategies to help manage pressure so that you can minimize its performance killing effects
How to get real with consequences and weigh this against the risks to shift perspective
The power of focusing your mind on opportunities versus threats
How to be a healthy control freak

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Book: Performing under pressure: The science of doing your best when it matters most
Course: Building personal resilience (gratis to AICPA members)
Podcast: Serving your clients, running your firm, and taking care of you
Bob Veres Inside Information (available to PFP/PFS members)

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Keebler on the American Rescue Plan Act of 2021 {PFP Section} Mar 15, 2021

President Biden signed off on the latest relief for businesses and individuals late last week. You can learn the specifics you need to know for your clients in this PFP Section podcast episode from Bob Keebler, CPA/PFS, including:

The ins and outs of the restaurant revitalization grant program
Expansion of the employee retention credit and EIDL loans
The many tax relief components for individuals and businesses, including tax free unemployment compensation in 2020
Related news on the 4 key reasons the AICPA requested an extension of the tax deadline

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

The IRS gives a statement on how 2020 tax returns are impacted.
For more in depth coverage of the act, join Bob Keebler this Friday at 1 pm EDT.
Attend this week’s AICPA Town Hall for up to the minute guidance.
Read more in various articles from the Journal of Accountancy.
PFP/PFS members can use the latest Broadridge Advisor alert to communicate with their clients.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 2: Important planning strategies to consider in 2021: Estate {PFP Section} Mar 12, 2021

Guest: Bob Keebler, CPA/PFS

Many experts expect the estate tax exemption to decrease to $5 million or $3.5 million under the current administration. Therefore, we are in a potential use it or lose it situation with respect to today’s exemption. In this PFP Section podcast episode, Bob Keebler, CPA/PFS, fills you in on:

Understanding what’s likely to happen by looking to proposals from Sanders, Obama, and Warren
What to do now to prepare your clients for what may be coming
Planning strategies that may make sense to accelerate

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Serving clients, running your firm, and taking care of you {PFP Section} Mar 05, 2021

Guest: Lyle Benson, CPA/PFS

AICPA PFP Summit brings together financial planning thought leaders to talk about what will take them, their clients, and their firms to the next level. In this PFP Section podcast episode, Lyle Benson shares takeaways from the January event such as:

The power of having clarity on the core values and purpose of your firm and bringing staff and clients along for the ride to inspire a sense of belonging.
Supporting clients to gain direction on their cherished charitable goals to bring meaning to their money.
Lessons learned from guiding blind athletes that tie in perfectly with your role as a financial planner.

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

The March edition of Bob Veres Inside Information includes write ups of two PFP Summit sessions.
Listen to an in-depth session on 2021 best ideas for you, your clients, and your firm.
Read about skills financial planners need to succeed in today’s environment.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Philanthropy techniques for your wealthier clients {PFP Section} Feb 26, 2021

Guest: Steve Siegel, J.D., LL.M.

For your high income and net worth clients, there are many savvy strategies that can meet their benevolent desires while also providing for their loved ones and saving significant tax. In this PFP Section podcast episode, Steve Siegel, J.D., LL.M., fills you in on:

The benefits of qualified charitable distributions (QCDs), the limitations, and the importance of timing this right
The beauty of charitable remainder trusts, especially in an environment where capital gain rates may increase, and the cons
The value of charitable lead trusts for your most affluent clients and why this may become a more popular technique if other wealth transfer strategies go by the wayside

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

If you’re looking for ideas for your everyday clients, check out Steve’s charitable giving strategies for the masses.
Use Steve’s Adviser’s Guide to Financial & Estate Planning (included with PFP/PFS membership) as a reference library for a deep technical dive on charitable planning and much more.
Visit Broadridge Advisor (included with PFP/PFS membership) to find client facing resources to educate and communicate with your clients about giving and many other planning topics.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Charitable donation strategies for the masses {PFP Section} Feb 19, 2021

Guest: Steve Siegel, J.D., LL.M.

The CARES Act introduced new rules in 2020 to encourage donations to charitable organizations during the pandemic. In this PFP Section podcast, Steve Siegel discusses:

2020 charitable contribution rules for individuals and business to be aware of when filing tax returns
2021 giving strategies, including changes made to the above the line deduction and increased penalties for improperly claimed deductions
Common mistakes or misses to be on the lookout for with your clients related to estate, gift, and trust charitable deductions

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Use Steve’s Adviser’s Guide to Financial & Estate Planning as a reference library for a deep technical dive on charitable planning and much more.
Check out Broadridge Advisor for client facing resources to educate and communicate with your clients about giving and many other planning topics.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Part 1: Important planning strategies to consider in 2021 {PFP Section} Feb 12, 2021

2021 is going to be a tricky year in terms of how to best advise clients since we don’t know what tax laws will change and when they may go into effect. In this 5-part series, Bob Keebler, CPA/PFS, walks you through the key areas to be mindful of so that opportunities aren’t missed with your clients.

In this PFP Section podcast episode, Bob covers planning for the potential change to step up in basis at death, including:

What are the 4 ways that the law could play out?
With the uncertainty, what planning ideas should you think about in 2021?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Listen to 2021 best ideas for you, your clients, and your business.
Register to attend the latest and greatest with Roth conversion planning.
Use the Adviser’s Guide to Financial & Estate Planning as a reference guide for current law.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The new approach to retirement planning: part 3 {PFP Section} Feb 05, 2021

Guests: Mackey McNeill, CPA/PFS

Creating a meaningful experience for your clients has become even more important over the past year. Mackey McNeill, CPA/PFS, has gamified her process to bring fun to retirement planning. In this episode of the PFP Section podcast, she shares her approach, step by step, including:

How she opens the conversation to invite her clients in
Why she has her clients who are couples create their goals separately
What she says to get clients out of the data gathering weeds
How she creates an ideal and acceptable financial plan to help with decision making

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Integrating pet planning into your financial planning practice {PFP Section} Jan 29, 2021

Guests: Brooke Salvini, CPA/PFS and AJ Fudge, JD

This episode is dedicated in loving memory of Gypsy, Salvini Financial Planning’s Happiness Advisor.

2/3rds of American household’s own pets and most consider them a cherished member of their family. Every year, countless animals end up homeless because plans have not been made for their care. In this episode of the PFP Section podcast, you will hear from animal lovers and experts Brooke Salvini, CPA/PFS and AJ Fudge, JD, as they discuss the following issues:

How to incorporate pet care into estate planning documents
What to think about with pet insurance and emergency planning
Who to consider as referral sources for specialized expertise
Why the pandemic has heightened the need for pet planning

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The latest on virtual currency as you head into tax season {PFP Section} Jan 22, 2021

Guests: Ryan Firth, CPA/PFS, Shehan Chandrasekera, CPA, and John Strohmeyer, J.D., LL.M.

With recent Bitcoin appreciation and the IRS becoming more proactive with tracing transactions, you may have clients interested in learning more or wondering how their activities impact their taxes. In this episode of the PFP Section podcast, experts Ryan Firth, CPA/PFS, Shehan Chandrasekera, CPA, and John Strohmeyer, J.D., LL.M. respond to the following questions:

When do you have a reportable tax event and how do you minimize tax?
What happens when bitcoin is used to purchase personal property or a cup of coffee?
What is the best way to track these transactions for tax reporting purposes?
What strategies should you be aware of for your clients?

Access resources related to this podcast: Note: If you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What to do and what not to do with life insurance {PFP Section} Jan 15, 2021

Guests: Susan Bruno, CPA/PFS

Give your clients peace of mind that their loved ones will be secure by learning about important factors when guiding their life insurance decisions. In this episode of the PFP Section podcast, Susan Bruno, CPA/PFS, answers the following questions:

Who is the most unbiased professional to work with?
What needs to be considered when designing the plan?
What are the ins and outs of purchasing permanent insurance?
How do you manage policies so that your clients don’t lose coverage?
How do you get rid of unwanted policies in the most cash and tax effective way?

Access resources related to this podcast: Note: if you’re using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links.

Learn more in the Adviser’s Guide to Financial & Estate Planning, Volume 1.
Find client facing resources with the PFP Section Broadridge Advisor benefit.
Check out the life insurance sessions at June’s Advanced PFP Conference at ENGAGE.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What the Georgia outcome means for financial planning {PFP Section} Jan 08, 2021

Guest: Bob Keebler, CPA/PFS

Recorded on Tuesday, January 5th, Bob Keebler, CPA/PFS, shares what you will want to think about for your clients as a result of Tuesday’s election. From Social Security and Roth conversion planning to wealth transfer and charitable giving implications, tune in to get more details on the following topics:

What to be mindful of with the general Democratic party themes
Proposals to keep your eyes on and the likelihood they’ll become law
The future of current planning techniques
Strategies you should consider for your clients and when

Access resources related to this podcast:

Register for 2021 best ideas for you, your clients, and your business.

Gain more details from our in-depth learning in late 2020, including Post-election year-end planning and Last-minute planning for 2020.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Happy New Year! Looking Ahead to 2021 {PFP Section} Jan 01, 2021

Guests: Susan Tillery, CPA/PFS and Dave Stolz, CPA/PFS

Congratulations on making it through 2020! Join your PFP Executive Committee and PFS Credential Committee chairs, Susan Tillery, CPA/PFS, and Dave Stolz, CPA/PFS, as their share tips for success for your business and clients and fill you in on what the PFP Division is doing for you in 2021. Listen to learn about:

What they have done to keep their businesses thriving in the current environment
How they have created a good experience for their clients in the COVID environment
What the PFP Division is focused on for you in 2021
Resources to help you help your clients

Access resources related to this podcast:

Learn more about the experienced track to the CPA/PFS credential.
Find your PFP Section benefits with this quick start guide.
Register for 2021 best ideas for you, your clients, and your business.
Register to attend PFP Summit on January 25th and 26th.
Stay connected with the evolution of the CPA exam.

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

The new approach to retirement planning: part 2 {PFP Section} Dec 25, 2020

Guest: Mackey McNeill, CPA/PFS

Being in the people business of personal financial planning often requires shifting from an expert with all the answers to a coach who ask questions and listens. In this episode of the PFP Section podcast, Mackey McNeill, CPA/PFS, gives you the framework she uses for her first meeting with her retirement clients, including:

Asking open ended questions to get the conversation started and active listening
Addressing the fear that comes with money discussions head on
Setting a frame by laying out the game plan, your role, and the client’s role
Encouraging the client to set intentions that guide the financial plan forward

Access resources related to this podcast:

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

Guiding clients with diminishing mental capacity – Part 2 {PFP Section} Dec 18, 2020

CPA financial planners are in a position to be one of the first to spot cognitive decline with their clients. Knowing what signs to look for and what to do next can go a long way towards protecting your aging clients. In this episode of the PFP Section podcast, Reina Schlager, CPA/PFS, discusses:

The nine domains of diminished capacity
Warning signs that may be connected to dementia and memory
How to be more connected and alert to decline with your clients
Establishing relationships with successor trustees and durable POAs

Access resources related to this podcast:

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.

Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.

What you need to know about captive insurance companies {PFP Section} Dec 11, 2020

Panelists: Bob Keebler, CPA/PFS and David Slenn, JD

The Internal Revenue Service has recently increased scrutiny of micro-captive insurance structures and time is of the essence to take corrective measures for your clients. Bob Keebler, CPA/PFS, interviews expert David Slenn to get you up to speed on this issue. David answers the following questions:

What is the background of micro-captives?
What message is the IRS sending with their recent notice and why should business owners be concerned?
Why is the IRS urging taxpayers to receive independent counsel?
Can micro-captives be structured to work for tax planning purposes?

Access resources related to this podcast:

Internal Revenue Service notice IR-2020-226

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

The new approach to retirement planning: part 1 {PFP Section} Dec 04, 2020

Guests: Mackey McNeill, CPA/PFS

When Mackey began her business, she approached financial planning from a technical and data driven perspective. She quickly found that clients often didn’t take steps to implement the recommended plan. In part 1 of the new approach to retirement planning series, Mackey walks you through:

How she turned her financial planning process on its head to get clients to buy in
What she learned about people and psychology to create the best results for her clients
Understanding the money biases that clients bring to the table and how to overcome these

Access resources related to this podcast:

The Adviser’s Guide to Practical Retirement Planning

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

A new estate freeze technique: Grantor Retained Interest Partnership {PFP Section} Nov 27, 2020

Guest: Robert Keebler, CPA/PFS

If you have clients who want to lock in the current estate tax exemption but are concerned about parting with assets, the new grantor retained interest partnership (GRIP) may be the answer. In this episode of the PFP Section podcast, Bob Keebler interviews GRIP experts Mary O’Reilly and Stephen Breitstone. They respond to the following questions:

What is a GRIP and how does it work?
In which circumstances does this technique make sense?
What features would you include in the partnership agreement?
Is there a risk of clawback?
What is the downside to implementing this strategy?

Access resources related to this podcast:

Read about the GRIP technique in this newsletter provided by Leimberg Information Services, Inc.
Find other estate planning strategies in The Adviser’s Guide to Financial & Estate Planning.

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Changing domicile in today’s environment {PFP Section} Nov 20, 2020

Guest: Steve Siegel, J.D., LLM

Retirement, taxes, lifestyle, family, and taxes are just a few of the reasons why your clients may consider a change in where they are located. In this episode of the PFP Section podcast, Steve Siegel, J.D., LLM walks you through what you need to consider as you advise clients, including:

Distinction between residency and domicile
Actions to sever domicile in one state and create it in another
Five essential factors that state auditors focus on when determining domicile
Ramifications of remote working across state lines during the pandemic

Access resources related to this podcast:

Broadridge Advisor article explaining domicile in client terms
The Adviser’s Guide to Financial & Estate Planning

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

What Biden’s capital gains proposal means for your clients {PFP Section} Nov 13, 2020

Guest: Paul Lee, J.D., LLM and Bob Keebler, CPA/PFS

With Senate election results unknown until January 5th, the likelihood of Biden’s tax proposals gaining traction will be uncertain until early next year. In this episode of the PFP Section podcast, Paul Lee, J.D., LLM and Bob Keebler, CPA/PFS answer the following questions:

What is Biden’s capital gains proposal and who will it impact?
If the tax law changes, when could it take effect?
Should you encourage clients to accelerate gains into 2020?
What planning strategies will work best if the proposal becomes law?

Access resources related to this podcast:

Register for Bob’s year-end planning webcast taking place on November 23rd
Podcasts and webcasts to guide you with planning ahead for your clients

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

The state of the election and what it means for financial planning {PFP Section} Nov 05, 2020

Guest: Bob Keebler, CPA/PFS

Recorded at 6:30 pm ET on Wednesday, November 4th, Bob Keebler walks you through the latest with the election results and what to expect next. With Biden getting close to the 270 electoral votes needed to win, Bob shares insights on what to be thinking about for year-end planning, including:

How the senate could shake out and what this means for changes in tax policy
The most important democratic party tax policy themes to keep in mind when planning for your clients
The risk of retroactivity of tax law changes back to 1/1/21 under certain circumstances
Planning solutions to consider for your clients this year given the uncertainty ahead

Access resources related to this podcast:

Register for Bob’s year-end planning webcast taking place on November 10th
Podcasts and webcasts to guide you with planning ahead for your clients

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Podcast: Best planning ideas to consider before 2020 ends {PFP Section} Nov 05, 2020

Guest: Lyle Benson

Drastic changes may be ahead in the world of tax planning. On one hand we may change administrations, and on the other, we have a pandemic to fund. In this PFP Section podcast episode, find out how leading CPA financial planners are guiding their clients. Lyle Benson, CPA/PFS, shares detailed ideas in each of the following areas:

Turning traditional year-end tax planning on its head by accelerating income and gains into 2020
Taking advantage of estate planning strategies while we have favorable laws
Helping clients rethink their retirement planning financially and emotionally
Getting back to basics with investment planning

Access resources related to this podcast:

Register for a year-end planning webcast fresh off the election
Get in depth estate planning strategies
Read Lyle’s best planning ideas for 2020

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Meaningful conversations to have with clients and prospects now {PFP Section} Oct 22, 2020

Guest: Lyle Benson, CPA/PFS

Gain ideas for how to talk with clients about their emotions, goals, politics, investments and year-end planning in this episode of the PFP Section podcast. Lyle Benson, CPA/PFS, shares takeaways from a recent AICPA PFP Summit Presents event that will guide you on how to approach your clients in the most effective way. Topics include:

Going deeper to understand what is changing with client goals and making room for aha moments
How to engage with clients who are anxious or grieving
What to say about the investment markets, uncertainty in the economy and the politics that we’re facing now
Discussions to have about year-end planning and what could be coming

Access resources related to this podcast:

Year-end planning tips with Bob Keebler, CPA/PFS
Register for a year-end planning webcast fresh off the election on November 10th (free with CPE for PFP/PFS members)
How to have transformative conversations with Jean-Luc Bourdon, CPA/PFS

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Final regs on the termination of a trust or estate {PFP Section} Oct 09, 2020

Guest: Steve Siegel, JD, LLM

If you have clients who terminated an estate or nongrantor trust in 2018, 2019, or 2020, you will want to tune in to this episode of the PFP Section podcast. Long awaited clarity is here and Steve Siegel outlines what you need to know, including:

The background on the confusion with allowable deductions caused by TCJA
What is deductible and how are the excess deductions classified when they flow through to the beneficiary
How miscellaneous itemized deductions are handled, including investment advisory fees
What can and should be addressed in the months ahead to benefit your clients

Access resources related to this podcast:

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guiding clients with diminishing mental capacity - Part one {PFP Section} Oct 02, 2020

Guest: Reina Schlager, CPA/PFS

As a CPA financial planner, you’re often the first to recognize when a client is showing signs of dementia and you’re in the trusted position to protect their finances and their care. Reina Schlager, CPA/PFS, shares experiences she has had to help you navigate similar situations with your clients, such as:

Helping to physically protect your clients
Recognizing when family members need to be told
Treating the client with dignity
Noticing when a guardianship needs to be put in place
Knowing when to bring in other advisors
Making sure client wishes are met with their care

Access resources related to this podcast:

Practice Guide: The adviser’s guide to retirement and elder planning
Podcast: The financial impact of Alzheimer’s disease

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

2020’s highest rated software for financial planners {PFP Section} Sep 25, 2020

Guest: Joel Bruckenstein

From CRM, financial planning, and risk tolerance software to cybersecurity resources and digital marketing tools, the 2020 T3/Inside Information Advisor Software Survey covers wide ground. Joel Bruckenstein shares the highest rated tools, his expert insights, and trends that he’s seeing in this PFP Section podcast. Takeaways include:

The movement towards all in one solutions
How the pandemic has increased the speed of software adoption
Heightened attention to tools that improve the client experience
What financial planners consider their top three most valuable tools
The answers to the most essential and basic questions you have about technology

Access resources related to this podcast:

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to have transformative conversations {PFP Section} Sep 18, 2020

Guests: Jean-Luc Bourdon, CPA/PFS, CFP®

The fear of uncertainty in the current times requires having skillful conversations to bring calm and comfort to your clients. Jean-Luc Bourdon, CPA/PFS, shares how to create an environment where your clients feel safe to discuss their deepest concerns and desires in this PFP Section podcast. He provides pointers such as:

Rules he follows to ensure his clients are clear and comfortable
Listening skills for the purpose of connecting versus responding
How to increase IQ, problem solving, trust, resiliency, sense of identity, and goal orientation
The art of coaching versus the science of technical expertise

Access other resources to increase your connection with clients:

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Part two of the importance of addressing long-term care planning {PFP Section} Sep 11, 2020

Guests: Brooke Salvini, CPA/PFS and Brian Gordon, CLTC

The pandemic has highlighted the need to have plans in place for healthcare. You can add value to your clients by having conversations to help them understand their options for long term care. In this episode, Brooke Salvini, CPA/PFS, and LTC expert, Brian Gordon guide you through what you need to know such as:

New criteria used for the application process
Available options when premium costs go up
Questions to ask when reviewing policies
Making claims on policies
Tax free exchanges to repurpose money

Access the related resources from this podcast:

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

The importance of addressing long-term care planning {PFP Section} Sep 04, 2020

Guests: Brooke Salvini, CPA/PFS and Brian Gordon, CLTC

Whether you have clients who are currently receiving care or planning for their long-term health and finances, you can guide them by understanding the LTC insurance industry and how the landscape is changing as a result of COVID-19. You’ll be better informed as you listen to Brooke Salvini, CPA/PFS, and LTC expert, Brian Gordon, discuss:

What insurance companies are doing differently when underwriting policies as a result of COVID-19
Balancing how much to self-fund and how much to insure
The sweet spot for timing to purchase a long-term care policy
The types of policies and the must-have features to help your clients find the right fit

Access the related resource from this podcast:

The Adviser’s Guide to Retirement and Elder Planning: Financing Retirement Healthcare https://www.aicpa.org/interestareas/personalfinancialplanning/resources/retirementplanning/longtermcare.html

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Estate planning conversations all clients need to have now {PFP Section} Aug 28, 2020

Guest: Steve Siegel, JD, LLM

The coronavirus pandemic highlights the importance of estate planning, regardless of wealth. As your client’s most trusted adviser, it’s important to initiate discussions to ensure their planning is in order. In this episode, Steve Siegel walks you through the core concepts, including:

Documents everyone should have in place
The importance of reviewing beneficiary designations
Considerations for college-age children
Dangers of boiler plate healthcare directives in light of the pandemic
Aspects to consider when appointing POAs, executors, trustees, and guardians

Access the related resource from this podcast:

The in-depth Adviser’s Guide to Financial and Estate Planning (www.aicpa.org/pfpguides)

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.

Don’t miss an episode. Subscribe to our podcast series on iTunes, Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

The power of planning with high-deductible health plans {PFP Section} Aug 21, 2020

Guest: Ted Sarenski, CPA/PFS

If you’re looking for one of the best tax deals around, look no further than a HSA for its trifecta of benefits. Contributions are tax deductible, growth is tax free, and qualified withdrawals are not taxable. Explore the ins and outs of HSAs and why they should be considered for every retirement plan in this PFP Section podcast episode brought to you by Ted Sarenski, CPA/PFS. Learn:

How to use HSAs as a powerful vehicle for retirement savings
How HSAs integrate with your overall financial plan
What happens if you are no longer employed
What you need to know about the 2020 rules

Access the related resources from this podcast:

Be prepared to best serve your clients with The Adviser’s Guide to Retirement and Elder Planning (www.aicpa.org/pfpguides), a 4-part series covering these important client planning decisions.
Hone your skills in all areas of personal finance with your CPA/PFS credential (aicpa.org/pfs).

This episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), 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 (www.aicpa.org/pfs), 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.

Don’t miss an episode. Subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Why it’s important to think about year-end planning now {PFP Section} Aug 14, 2020

Guest: Bob Keebler, CPA/PFS

Be prepared to shift some of your tax and financial planning strategies if there is a change in administration with the coming election. Learn about tax policy themes and potential planning opportunities from Bob Keebler, CPA/PFS, including:

Payroll taxes on high income earners
Marginal tax rate and the capital gains rate for high income individuals
Basis step-up at death and other estate and gift tax rules
Non-qualified and incentive stock options and deferred compensation
Planning strategies to consider now and post-election to best serve your clients

Access the related resources from this podcast:

Proactive Planning Toolkit for resources, guides, podcasts, and charts from Bob Keebler - www.aicpa.org/pfp/proactiveplanning
PFP News delivered to PFP and PFS member inboxes on Wednesdays
Post-election year-end planning webcast on November 10th - https://www.aicpa.org/pfp/events

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode. Subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to determine the basis of IDGT property at death {PFP Section} Aug 07, 2020

Guests: Bob Keebler, CPA/PFS and Jonathan Blattmachr, Esq.

In this episode, learn what happens when a client gifts and sells property to an intentionally defective grantor trust and passes away 15 years later. Bob Keebler and Jonathan Blattmachr discuss the following topics related to the basis of the property:

How is the basis of property determined?
What are exceptions to the income tax free step-up in basis rule?
Why is an installment sale to a grantor trust so powerful?
What do proposed regulations say about the tax-free step up in basis and what may happen post-election?

Access the related resources from this podcast:

The in-depth Adviser’s Guide to Financial and Estate Planning – www.aicpa.org/pfpguides
Learn more about the installment sale to a grantor trust strategy in the podcast, How to help clients take advantage of low interest rates – www.aicpa.org/pfp/library

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to help clients take advantage of low interest rates {PFP Section} Jul 31, 2020

Guest: Bob Keebler, CPA/PFS

The potential for imminent estate tax law changes coupled with a low interest rate environment makes this an opportune time to transfer wealth. Bob Keebler goes in-depth with responding to the following questions that will help you help your clients:

Why do you need to start educating clients now about how to protect their estate and gift tax exemption?
What is the most powerful transaction you can use to transfer wealth right now and how does this compare to a GRAT?
How do you balance bet to live and bet to die strategies?
When are dynasty trusts, private annuities, and split-dollar life insurance effective planning strategies?

Access the related resources from this podcast:

Slides that accompany this video podcast
The Proactive Planning Toolkit - www.aicpa.org/pfp/proactiveplanning
The Adviser’s Guide to Financial and Estate Planning - www.aicpa.org/pfpguides
Other estate planning resources like Steve Oshin’s planning charts at www.aicpa.org/pfp/estate

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

What’s next...Life after the pandemic {PFP Section} Jul 23, 2020

Guests: Lyle Benson, CPA/PFS & Susan Bradley, founder of Financial Transitionist® Institute

Your clients look to you for more than just numbers. You can help them through the human and personal dynamics of transition. Lyle Benson CPA/PFS, facilitates a conversation with Susan Bradley on how to skillfully help clients move through the pandemic. You will learn:

What is the financial transition model you can use with clients?
What are three questions to ask your clients in the midst of transition?
How can you effectively guide a client from what was to what will be?
How do you put together the two sides of money – technical and personal – to guide decision-making for your client?

Access the related resources from this podcast:

Slides that accompany the podcast
Key takeaways from AICPA Personal Financial Planning Summit 2020
Planning ideas and more during the pandemic - https://www.aicpa.org/pfp/covid19
Learn more about Susan’s Financial Transitionist® Institute - https://financialtransitionist.com/

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

The financial impact of Alzheimer’s disease {PFP Section} Jul 17, 2020

Guests: Julie Papievis and Jim Sullivan, CPA/PFS

With the first wave of baby boomers turning 75 and 6 million Americans impacted by Alzheimer’s disease, it is important to understand the physical, mental, and financial nuances. As a CPA financial planner, you can give your aging clients and their families peace of mind as they embark on this daunting journey. In this episode, Julie Papievis will guide you to help your clients by answering the following questions:

What is Alzheimer’s disease and its pathology and progression?
How do you create a Care Budget and a Care Balance Sheet as part of your client’s financial plan?
What skills will help you bring value to your newly diagnosed client and their family?

Access the related resources from this podcast:

Read the write-up created by Jim Sullivan, CPA/PFS, that accompanies this podcast.
Visit the Alzheimer’s Association at www.alz.org.
Find the Adviser’s Guide to Retirement and Elder Planning at www.aicpa.org/pfpguides.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Planning Ideas with the SECURE Act’s 10-Year Rule {PFP Section} Jul 10, 2020

Guests: Bob Keebler, CPA/PFS and Jonathan Blattmachr, Esq.

The elimination of the ability to stretch IRA and qualified plan distributions over the life of the beneficiary has made effective planning a bit more challenging. In this episode, learn from Bob Keebler and Jonathan Blattmachr as they explore the SECURE Act’s 10-year rule and planning strategies for your clients, including:

Using CRUTs or NIMCRUTs to simulate a payout that is longer than 10 years
Considerations for planning with trusts and s-corporations
How to create a plan that gives your clients flexibility and opportunities
How to calculate the math and determine the timing of these planning strategies

Access the related resources from this podcast:

SECURE Act resources, podcasts, and charts from Bob Keebler in the Proactive Planning Toolkit
10th edition of The Adviser’s Guide to Financial and Estate Planning updated for SECURE
Article analyzing the CRUT and NIMCRUT strategy

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to make the most of your PFP Section benefits {PFP Section} Jul 06, 2020

Guest: Sandra Truitt, AICPA PFP Team

Calling all PFP Section members! Are you looking for tips and tricks for diving into your PFP Section benefit suite? Look no further than this podcast episode featuring Sandra Truitt from the AICPA PFP team. She will give an A-Z overview of your benefits including:

Quick tips for getting started
Resources included with membership
Ways to stay current and in the loop
Opportunities to connect with peers and the AICPA team
Can’t-miss ideas for using the tools included

Access the related resources from this podcast:

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Education planning how-to’s in a COVID world {PFP Section} Jun 26, 2020

Guest: Ross A. Riskin, DBA, CPA/PFS, CCFC, MS Tax

The coronavirus pandemic brought major changes to higher education. From where to attend classes to exploring the upcoming financial aid filing season, there are a lot of important factors to think through right now. Hear from professor and education planning expert, Ross Riskin, CPA/PFS, in this podcast as he shares new strategies around:

• Using 529 plan distributions for room and board when a child is living at home

• What to know about the FAFSA process for the fall semester

• CARES Act relief provisions and planning strategies for student loan repayments

• Deeper education planning questions that go beyond finances Access the related resources from this podcast:

• The Adviser’s Guide to Education Planning: covers how to get started, tax planning considerations, and special planning considerations for high net worth individuals, business owners, divorced couples, and grandparents. (Free Excerpt)

• Coronavirus (COVID-19) personal financial planning resources

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to help clients make good decisions in times of transition {PFP Section} Jun 19, 2020

Guests: Lyle Benson, CPA/PFS, and Susan Bradley, CeFT®, CFP®

The emotions underlying decisions can create confusion in times of major transition like the pandemic. In this podcast, you will walk away with gems to help you have better conversations with your clients that lead to action with purpose. Tune in as Lyle Benson interviews life transition expert Susan Bradley:

What are the four stages of transition and how you can you support your clients through each?
What are the most effective questions to help clients discover their purpose? And what question might you want to avoid?
Why is having a structured conversation so important and what tools can help facilitate?

Access the related resources from this podcast:

Diagrams highlighting the four stages of transition and the personal and technical side of money
Purpose, method, outcome (PMO) worksheet to structure and facilitate conversations with clients
Broadridge Advisor’s Life Events Resource Center (available for PFP Section members)

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Tips to help your clients identify fraud during COVID-19 {PFP Section} Jun 12, 2020

Guest: Erin Scheithe

Losing money or property to fraud can be devastating. While scammers’ exploitation tactics are familiar, the pandemic may lead to an increased likelihood that your clients will fall for them. In this episode, learn about coronavirus specific fraudulent schemes that you can share with your clients.

Erin Scheithe with the Consumer Financial Protection Bureau answers questions to help you protect your clients:

Who is the target of coronavirus-related scams?
What are the red flags you should look for?
Who should you turn to if one of your clients has been scammed?

Access the related resources from this podcast:

Consumer Financial Protection Bureau’s coronavirus and older adult resources
Content for financial planning professionals
Content for forensic professionals

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Social Security strategies to help your clients during the pandemic {PFP Section} Jun 05, 2020

Guests: Ted Sarenski, CPA/PFS

During the coronavirus pandemic, you have witnessed uncertainty with personal finances and the anxiety that has come with even the best-laid plans. What can you do today to help your clients gain comfort and clarity? You can help them with their Social Security planning decisions. In this episode, learn from Social Security expert Ted Sarenski, CPA/PFS, as he shares key insights that will help you help your clients, including:

Expectations for next year’s Trustees of Social Security and Medicare trust funds report
Tips to keep age 62 clients going who are now unemployed or earning much less
Decision-making formula for preserving Social Security benefits
Considerations for married couples, surviving spouses, and families
Social Security outlook for those under age 60

Access the related resources from this podcast:

The 2020 Trustees of Social Security and Medicare trust funds report
Ted Sarenski’s guide to Social Security planning

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How Medicare benefits have changed due to our public health emergency {PFP Section} May 28, 2020

Guest: Jim Sullivan, CPA/PFS

Client 65+ and those with certain medical conditions are at higher risk for contracting COVID-19. If they are affected by the virus, you can help them understand their increased Medicare benefits put in place by the Centers for Medicare and Medicaid Services. In this episode, learn from Jim Sullivan, CPA/PFS, as he answers questions about the changes to Medicare benefits like:

What testing and treatment does Medicare cover for COVID-19?
How have telemedicine services been expanded?
If a vaccine is approved, will it be covered by Medicare?
How have the special rules for Medicare coverage for a skilled nursing facility changed?
Can beneficiaries obtain extended supplies of prescription medications?
What if out-of-network care is needed?
What to consider with Medicare Advantage plans?

Access the related resources from this podcast:

Read Jim’s write-up that accompanies this podcast here.
Find out more about what services are covered: https://www.medicare.gov/coverage
Access The Adviser’s Guide to Retirement and Elder Planning: https://www.aicpa.org/pfpguides
Visit https://www.aicpa.org/pfp/covid19 to find resources and information about planning during the pandemic.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to help clients with retirement relief provided by CARES {PFP Section} May 22, 2020

Guest: Robert Keebler, CPA/PFS

Do you have clients who have had coronavirus-related health or financial issues? The CARES Act retirement plan and IRA provisions may be able to provide them with cash flow relief. Use your deep tax knowledge as a CPA financial planner to help your clients make smart planning moves now. Be sure to follow along with the slides included in the resources as you learn from Bob Keebler, CPA/PFS, in this episode. He answers questions from Sections 2202 and 2203 of the CARES Act, including:

What are the rules for retirement plans and IRAs?
What qualifies as a coronavirus-related distribution?
What is the tax impact of taking a coronavirus-related distribution?
What are the loan relief provisions?
Are employers required to adopt the distribution and loan rules?
What planning opportunities should you consider and when should you exercise caution?

Access the related resources from this podcast:

Find the slides to follow along with the podcast here.
Read the IRS FAQs that provide more clarity - https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-answers.
Visit the COVID-19 section of our PFP Learning Library (aicpa.org/pfp/library) to find related podcasts on RMDs and Roth IRAs.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to deepen client relationships during the pandemic {PFP Section} May 19, 2020

Guest: Lyle Benson, CPA/PFS

Has your client contact increased significantly during the pandemic? Do you wonder how other CPA financial planners are adding value and communicating with clients during this time? CPAs have provided the calm in the storm for their clients and have shifted their ways of doing business to meet changing client needs. Learn from Lyle Benson, CPA/PFS, as he shares insights from his study group of leading CPA financial planners such as:

What is the most important message to make sure your clients hear?
What are the fears and challenges that are top of mind for clients and how can you address them?
What are ways you can add value as a CPA financial planner?
What are the unique planning opportunities you can consider with your clients now?
What reflections questions will help you and your clients think about how you’d like life to look as we come out of the pandemic?
And much more

Access the related resources from this podcast:

Visit www.aicpa.org/pfp/covid19 to find a client letter shared by Lyle that includes reflection questions. You will also find on-demand learning from top experts covering planning strategies mentioned in the podcast.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to generate cash flow utilizing NOL relief under the CARES Act {PFP Section} May 15, 2020

Guests: Bob Keebler, CPA/PFS and Chris Hesse, CPA

Under the CARES Act, you may be able to help your relevant business owner clients with their cash flow needs. This can be done by generating refunds from net operating losses (NOLs). As a CPA financial planner, use your deep tax knowledge to help clients benefit from this opportunity. Learn from experts Bob Keebler, CPA/PFS, and Chris Hesse, CPA, in this PFP podcast episode as they explore:

What is the excess business loss provision in IRC Section 461(l) and how does it work?
How does the CARES Act impact IRC Section 461(l)?
What should clients who were limited in the deductibility of their business losses in 2018 do now?
What forms do you file and what are the mechanics of filing for the NOL carryback provision?
What’s the number one hurdle you face to get the net operating loss filed and what are the viable alternatives to consider?

Access the related resources from this podcast:

Visit www.aicpa.org/sba for information on the Paycheck Protection Program.
Visit www.aicpa.org/pfp/covid19 to find personal financial planning resources.
Visit www.aicpa.org/covid19tax.html to find tax guidance.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to help clients who are considering bankruptcy {PFP Section} May 08, 2020

Guests: Bob Keebler, CPA/PFS and Ken DeGraw, CPA/PFS, CFF

Some of your business owner clients may be worried about their business with everything that is happening. As a CPA financial planner, be the trusted adviser your clients are looking for by listening and guiding clients who might be considering bankruptcy. Learn from experts Bob Keebler and Ken DeGraw in this PFP podcast episode and discover:

What are the unintended consequences of filing for bankruptcy?
What are the viable alternatives to consider?
Should clients tap into retirement assets?
What team of experts should come together?
And much more

Access the related resources from this podcast:

Visit aicpa.org/pfp/covid19 to hear from experts on financial planning strategies and more.
Visit aicpa.org/covid19fvs for resources related to bankruptcy and more.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Bond Tax Planning in Today’s Environment {PFP Section} May 01, 2020

Guests: Bob Keebler, CPA/PFS and Mark Fichtenbaum, CPA, JD, LLM

In this episode, Bob Keebler, CPA/PFS, interviews Mark Fichtenbaum, CPA, JD, LLM, one of the foremost experts in the country on the taxation of securities, about bond tax planning strategies to consider with your relevant clients during a volatile market with low interest rates:

What are the tax planning opportunities when purchasing bonds that are trading at a premium?
What are the planning opportunities if you already own a premium bond?
How can you effectively and efficiently harvest losses on securities to offset capital gains from bonds?
What are alternative planning strategies to avoid violating the wash-sale rules?
What are the estate planning considerations for premium bonds where there is a step up in basis?
What are some examples showing these tax strategies?

Access the related resources from this podcast:

Visit aicpa.org/pfp/proactiveplanning for more tax planning strategies and find Bob Keebler’s decision charts updated for 2020.
Visit aicpa.org/pfp/covid19 to find resources and information about planning during the pandemic.
Visit aicpa.org/covid19tax to find tax guidance and more.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

To Roth or Not to Roth in the Current Environment {PFP Section} Apr 24, 2020

Guests: Bob Keebler, CPA/PFS

With changes to Roth planning due to TCJA, the SECURE Act, and now the CARES Act and market volatility resulting from COVID-19, it’s important to consider whether Roth conversions would be optimal to help your clients reach their long- term goals. In this episode, Bob Keebler, CPA/PFS, shares the nuances to consider when making decisions on whether to advise clients to convert to a Roth:

Should your clients use their 2020 waived RMD dollars to fill up their lower tax brackets with a Roth conversion?
What are the four principle reasons to convert to a Roth?
How do Social Security and Medicare benefits factor into planning with Roth conversions?
When should you consider life insurance rather than a Roth IRA?
What strategies should you consider if your client is in a state estate tax scenario?

Access the related resources from this podcast:

Visit www.aicpa.org/pfp/proactiveplanning to find charts by Bob Keebler that can help with your Roth conversion decision making.
Visit https://www.aicpa.org/pfp/covid19 to find resources and information about planning during the pandemic.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Required Minimum Distributions under the CARES Act {PFP Section} Apr 17, 2020

Guests: Ed Slott, CPA and Bob Keebler, CPA/PFS

In the multitudinous legislation that is unfolding as a result of the coronavirus pandemic, the IRS has issued relief from taking required minimum distributions (RMDs) from IRAs and employer sponsored plans under the CARES Act. Bob Keebler, CPA/PFS, interviews Ed Slott, CPA, in this fast-paced, jam-packed episode about the impact of the CARES Act on RMDs:

What is the new RMD rule under the CARES Act and how does it work?
Who is eligible to waive the RMDs and who does it benefit?
What are the tax planning strategies you should consider?
How does this provision impact the 5-year rule and IRAs without a designated beneficiary?
What if you already took your RMD and you don’t need it?
How do you piece together the various guidance and relief to understand the rules?

Access the related resources from this podcast:

Relief for Reporting Required Minimum Distributions for IRAs for 2020 - https://www.irs.gov/pub/irs-drop/n-20-06.pdf
Additional Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic - https://www.irs.gov/pub/irs-drop/n-20-23.pdf
Time for performing certain acts postponed by reason of service in a combat zone or a federally-declared disaster - https://www.irs.gov/pub/irs-drop/rp-18-58.pdf
Visit https://www.aicpa.org/pfp/covid19 to find a client alert that explains the highlights of the CARES Act, including relief for retirement plan provisions.
Visit aicpa.org/covid19tax to find tax guidance and more.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Connecting with clients in the current environment {PFP Section} Apr 10, 2020

Guests: Martin Shenkman, CPA/PFS, MBA, AEP (Distinguished), JD

Increased health risks related to COVID-19, social distancing mandates, and the financial aspects of the CARES Act and other legislation has rapidly and dramatically changed the way CPA financial planners are practicing and serving their clients. There are practical considerations you can address and steps you can take in your practice to make sure you are providing the same high level of service with your clients’ best interest in mind during these unprecedented and uncertain times. In this episode, Martin Shenkman, CPA/PFS, JD shares insights into:

What are some programs you can use to effectively and efficiently communicate with clients?
What should you say (and not say) in your messaging?
What tools can you use to interact with clients in a virtual setting?
How can you help your clients become comfortable with new technology tools you’re implementing?
What can you do to empower your clients during this time?
What are effective ways to work remotely when it’s new for you?
How can you sign legal documents in a virtual environment?
What should you consider when you’re onboarding a new client in a virtual setting?

Access the related resources from this podcast:

The Personal Financial Planning Section’s COVID-19 resource center- (aicpa.org/pfp/covid19) includes client facing materials, planning strategies, leg/reg updates and more.
The PFP Learning Library (aicpa.org/pfp/library) includes podcasts and webcast recordings related to COVID-19 and the current environment.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Important estate planning considerations amid COVID-19 {PFP Section} Apr 03, 2020

Guests: Martin Shenkman, CPA/PFS, MBA, AEP (Distinguished), JD

Increased health risks related to COVID-19 and the financial aspects of the CARES Act and other financial legislation – all during an election year, compounds the complexity of the tax and financial planning landscape. There are issues you can address and steps you can take with your clients to make sure they are protected. In this episode, Martin Shenkman, CPA/PFS, JD shares insights into:

What are the estate planning basics that must be addressed, including important healthcare documents?
What can you do to help your clients prepare their estates if there is a significant decrease in the estate tax exemption?
How do you address the psychological impact of the current environment in the context of the financial plan?
What are innovative planning techniques you can use to protect your clients in this unique environment?

Access the related resources from this podcast:

The Personal Financial Planning Section’s COVID-19 resource center (aicpa.org/pfp/covid19) includes client facing materials, planning strategies, leg/reg updates and more.
The PFP Learning Library (aicpa.org/pfp/library) includes podcasts related to COVID-19 and the current environment and will be updated with webcast recordings as they are available.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Coronavirus Aid Relief and Economic Security (CARES) Act {PFP Section} Mar 31, 2020

Guests: Bob Keebler, CPA/PFS and Chris Hesse, CPA

In response to the coronavirus (COVID-19) pandemic, Congress has passed the anticipated Coronavirus Aid Relief and Economic Security Act (H.R. 748) to bring the resources of the federal government to protect the health and well-being of Americans. Join Bob Keebler, CPA/PFS, and Chris Hesse, CPA and chair of the AICPA Tax Executive Committee, as they discuss AICPA advocacy for the profession and some of the key provisions to help you connect the dots with your clients who own businesses such as:

The payroll protection program, including who qualifies, where clients can get these non-recourse loans, what is covered, and the limits
Loan forgiveness specifics and considerations for s-corporations and partnerships
Employee retention credit and the interplay with loan forgiveness
Deferral of employer portion of FICA tax and the interplay with borrowing
Loosened provisions around net operating losses and quick refunds going back as far as 2018
And more

Access the related resources from this podcast:

Visit aicpa.org/pfp/covid19 for financial planning resources such as client-facing resources to put market volatility in perspective and planning strategies for your clients.
Visit aicpa.org/covid19tax for tax resources such as client letters, tax impacts of COVID-19, and IRS guidance.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Tax planning for recent decedents amid COVID-19 {PFP Section} Mar 27, 2020

Guests: Bob Keebler, CPA/PFS

In this episode, Bob Keebler, CPA/PFS, shares tax planning ideas that are important to consider with families of recent decedents amid record low oil prices and bond rates coupled with market losses, including:

How can you leverage the loss harvesting strategy to tactfully offset gains over the next few years without violating the wash sale rules or your fiduciary responsibility?
How do you create liquidity while coordinating with the alternative valuation date?
When do you fund pecuniary clauses and how do you avoid funding with appreciated securities?

Access the related resources from this podcast:

Visit aicpa.org/pfp/covid19 to find financial planning strategies and client facing materials to navigate COVID-19.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

How to bullet proof your investment portfolio {PFP Section} Mar 23, 2020

Guests: Bob Keebler, CPA/PFS and Dave Stolz, CPA/PFS

Now is a time when many people are having anxiety about the current and future state of their investment portfolio. Those who have a good understanding of markets are confident that all will be well in the long term and will hold steady so they don’t miss the market surge. For particularly nervous clients, it is important to communicate how their cash and investment portfolio are protected in a doomsday scenario, reinforcing your value and reassuring your clients that you have their best interest at the forefront of all you do. In this episode, Bob Keebler, CPA/PFS, interviews Dave Stolz, CPA/PFS, about ideas to consider with your clients to protect their portfolio during a volatile market, including:

What are some effective ways to hold cash?
How is your cash protected with FDIC insurance?
What is SPIC insurance and how does it protect your investment accounts?
How can you utilize T-bills in your portfolio?
Should you consider gold and cryptocurrency?
If you have a large tax liability, how do you keep your cash safe until the July 15 payment deadline?

Access the related resources from this podcast:

Podcast: Finding (and being) calm amid the chaos (www.aicpa.org/pfp/library)
Resource hub (www.aicpa.org/pfp/covid19) for learning, articles, client-facing materials, and more related to planning amid COVID-19

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Planning opportunities in a volatile market {PFP Section} Mar 20, 2020

Guest: Bob Keebler, CPA/PFS

Health concerns related to COVID-19 are top of mind and finances are likely a close second. No one can control market volatility and often the portfolio advice during this time is to hold steady. However, there are proactive income tax planning techniques that work well in a volatile market, reinforcing your value and reassuring your clients that you have their best interest at the forefront of all you do. In this episode, Bob Keebler, CPA/PFS, shares ideas to consider with your clients during a volatile market, including:

What factors should you consider with Roth conversions when the market fluctuates?
How do you go about capital loss harvesting without violating the wash-sale rules?
How can you make the most effective use of ISO and NSO exercise?

Access the related resources from this podcast:

Podcast recorded at the close of markets Friday, 2/28
Sample client message written by Sue Stevens, CPA/PFS
Journal of Accountancy article on calming clients’ fears during this time
Journal of Accountancy article on business planning
The AICPA coronavirus resource center
Broadridge advisor alert compiles all materials on helping clients during market volatility
Broadridge client alert encourages investors to put market turbulence into perspective
Broadridge client alert looks at Coronavirus and the global economy
Perspective in the Panic and Pandemic Perspectives client letters

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Finding (and being) calm amid the chaos {PFP Section} Mar 19, 2020

Guests: Susan Tillery, CPA/PFS and Dave Stolz, CPA/PFS

COVID-19 is bringing much change and uncertainty to the world and it’s important to find calm amid the chaos. No one can control market volatility, with fear being a major influencer on the fluctuations, though investment principles have not changed. In this episode, Susan Tillery, CPA/PFS, chair of the PFP Executive Committee, and Dave Stolz, CPA/PFS, chair of the PFS Credential Committee, share how they are putting their clients first – and in doing that, reinforcing the value of the CPA financial planner. They address the following questions:

How are your clients reacting and what are you saying to them?
What assurances can you give your clients about the market outlook and their financial plan?
How do you interact with a particularly nervous client, family member or friend?
What can CPAs do to lead and be a source of calm in this time of uncertainty?
How do you take care of you so that you are your best for your clients and family?
What are some ways that you can help others in your community?

Access the related resources from this podcast:

Podcast recorded at the close of markets Friday, 2/28
Sample client message written by Sue Stevens, CPA/PFS
Journal of Accountancy article on calming clients’ fears during this time
Journal of Accountancy article on business planning
The AICPA coronavirus resource center
Broadridge advisor alert compiles all materials on helping clients during market volatility
Broadridge client alert encourages investors to put market turbulence into perspective
Broadridge client alert looks at Coronavirus and the global economy
Perspective in the Panic and Pandemic Perspectives client letters

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Taking your practice to the next level: key takeaways from PFP Summit {PFP Section} Mar 13, 2020

Guests: Lyle Benson, CPA/PFS & Michael Goodman, CPA/PFS

In this episode, Lyle Benson, CPA/PFS and Michael Goodman, CPA/PFS give you an inside look at AICPA PFP Summit, including:

What makes PFP Summit unique and different
Highlights from PFP Summit sessions and how can you implement them in your own practice, such as:
- Engaging with Generation Next
- Using mindfulness in your practice
- Measuring client satisfaction and where do you focus your energy on improvements
- Engaging clients in the planning process to act on their recommendations
- Building a growth element into your client services culture
- Envisioning your unique succession plan
- Attracting the right talent to build your team
- Communicating your value proposition

Access the related resources from this podcast:

Practice management resources from the AICPA PFP Section
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other PFP Summit sneak-peek podcasts!

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device

Succession planning: Tips from Generation 2 {PFP Section} Mar 06, 2020

Guests: Michael Goodman, CPA/PFS

In this encore* episode, Michael Goodman, CPA/PFS interview generation 2 (G2) members, Chris Benson and Eric Hehman, about succession planning for personal financial planners, including:

The business models and background of each’s succession planning experience
How the succession planning process was initiated and what happened next
Balancing formal and informal elements of the succession plan development
Discussion of the timeline and shift in roles and responsibilities during transition
The importance of open and honest communication with the G1 successee
How succession fits with your life plan
Lessons learned and actionable takeaways, including what G1 can do to strengthen the partnership with G2 during the transition process

*This episode originally appeared on www.aicpa.org/pfp in August 2017. The nature of this content is still accurate and relevant and we hope you enjoy this series.

Access the related resources from this podcast:

Practice management resources from the AICPA PFP Section
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other succession planning podcasts!

Succession planning: Q&A with David DeVoe
Success tips from Generation 1
Success tips from Generation 2

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Helping clients in a volatile market {PFP Section} Mar 03, 2020

Guests: Bob Keebler, CPA/PFS, and Lyle Benson, CPA/PFS

In this episode, recorded at the close of markets on February 28th, Lyle Benson, CPA/PFS, and Bob Keebler, CPA/PFS, discuss:

How to communicate with clients during this uncertain time to bring them peace of mind and keep them focused on the long-term perspective and purpose of their investment strategy
Income and estate planning techniques that work well in a volatile market and low interest rate environment, including Roth conversations, gain/loss harvesting, funding GRATs, IDGT sales, and more
Other considerations such as alternative valuation dates for estates and life insurance reviews

Access the related resources from this podcast:

Use this Broadridge client alert to help clients understand the potential global economic impact and the recent US stock market pull back.
Visit Broadridge Advisor and search “market volatility” to find other client-friendly resources.
Read this example of a communication to help keep clients calm, written by Chris Benson, CPA/PFS.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Succession planning: Tips from Generation 1 {PFP Section} Feb 28, 2020

Guest: Michael Goodman, CPA/PFS

In this encore* episode, Michael Goodman, CPA/PFS interview generation 1 (G1) members– Lyle Benson, Beth Gamel, and Steve Levey^– about succession planning for personal financial planners, including:

The business models and background of each’s succession planning experience
The genesis of the succession plan vision
How advisors can overcome obstacles, like fear, in order to take the first steps toward succession planning
The importance of succession planning to address the unexpected
How each approached anticipated challenges and, in hindsight, what unanticipated challenges were surprising
Advice for practitioners who want to move forward in the succession planning process

*This episode originally appeared on www.aicpa.org/pfp in August 2017. The nature of this content is still accurate and relevant and we hope you enjoy this series.

^ Steve Levey has since passed away; yet, his legacy has impacted and benefited so many in our PFP Section community and are grateful for his contribution.

Access the related resources from this podcast:

Practice management resources from the AICPA PFP Section
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other succession planning podcasts!

Succession planning: Q&A with David DeVoe
Success tips from Generation 1
Success tips from Generation 2

^ Steve Levey has since passed away; yet, his legacy has impacted and benefited so many in our PFP Section community and are grateful for his contribution.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Succession planning: Q&A with David DeVoe {PFP Section} Feb 21, 2020

Guests: David DeVoe & Michael Goodman, CPA/PFS

In this encore* episode, Michael Goodman, CPA/PFS interviews expert, David DeVoe, Founder and Managing Director, DeVoe & Company, about succession planning for personal financial planners, including:

How David’s practitioner perspective and his entrepreneurship led him to become an expert in succession planning for financial planners
How succession planning has evolved and why industry demographics make it critically important
The primary reasons why adoption of formal succession plans remains low
The first steps to take toward creating a succession plan
Creating a succession plan that aligns with the goals and objectives of your life plan
What you need to know when the CPA firm is affiliated with an RIA firm
The different approaches for internal succession versus external succession options
The benefits of working with a succession planning firm

*This episode originally appeared on www.aicpa.org/pfp in August 2017. The nature of this content is still accurate and relevant and we hope you enjoy this series.

Access the related resources from this podcast:

www.devoeandcompany.com
Practice management resources from the AICPA PFP Section
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other succession planning podcasts coming soon!!

^ Steve Levey has since passed away; yet, his legacy has impacted and benefited so many in our PFP Section community and are grateful for his contribution.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device

Mathematics of the SECURE Act In-Depth {PFP Section} Feb 14, 2020

Guest: Bob Keebler, CPA/PFS

In this 40-minute in-depth episode, Bob Keebler CPA/PFS walks you through the mathematics of the SECURE Act, including:

What are the three best solutions to address the 10-year rule that eliminates Stretch IRAs and how do you apply them?
What are special circumstances you need to address and how do you apply the appropriate strategies?
How do you run the numbers to determine the best strategies to use with your clients?

Access the related resources from this podcast:

Slide deck to complement the audio
Impact of tax reform on planning toolkit
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other SECURE Act podcasts!

Practical Solutions for your clients
Eligible Beneficiary Exceptions
IRAs payable to trusts
IRAs payable to conduit trusts
Mathematics of estate planning for IRAs
Roth conversions and the proposed SECURE Act*
A cure for the SECURE Act: using CRTs*

*Recorded prior to SECURE Act passage but the strategies still apply

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Estate administration for IRAs and qualified plans {PFP Section} Feb 07, 2020

Guest: Bob Keebler, CPA/PFS

Now that the SECURE Act is in effect, you need to know how this impacts your clients’ financial plans and what you can do to best serve them. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge and solutions that will help you best serve your clients:

What are the key tax and planning strategies to focus on for the families you serve?
How can you use a disclaimer for 2019 deaths to use the life expectancy rules?
What is the “ghost” rule and when does it apply?
How can you use a conduit trust for effective estate planning?

Access the related resources from this podcast:

H.R.1994 - Setting Every Community Up for Retirement Enhancement Act of 2019
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other SECURE Act podcasts!

SECURE Act: Practical Solutions for your Clients (12/17/2019)
Eligible Beneficiary Exception (1/10/2020)
IRAs payable to trusts (1/17/2020)
IRAs payable to conduit trusts (1/24/2020)
Mathematics of estate planning for IRAs (1/31/2020)
Estate Administration for IRAs and qualified plans (2/7/2020)

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Mathematics of estate planning for IRAs {PFP Section} Jan 31, 2020

Guest: Bob Keebler, CPA/PFS

Now that the SECURE Act is in effect, you need to know how this impacts your clients’ financial plans and what you can do to best serve them. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge and solutions that will help you best serve your clients:

What are the post-mortem payout rules?
What are the mathematical solutions and strategies to help clients simulate the stretch IRA?

Access the related resources from this podcast:

H.R.1994 - Setting Every Community Up for Retirement Enhancement Act of 2019
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other SECURE Act podcasts!

SECURE Act: Practical Solutions for your Clients (12/17/2019)
Eligible Beneficiary Exception (1/10/2020)
IRAs payable to trusts (1/17/2020)
IRAs payable to conduit trusts (1/24/2020)
Mathematics of estate planning for IRAs (1/31/2020)
Estate Administration for IRAs and qualified plans (2/7/2020)

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

SECURE Act: IRAs payable to conduit trusts {PFP Section} Jan 24, 2020

Guest: Bob Keebler, CPA/PFS

Now that the SECURE Act is in effect, you need to know how this impacts your clients’ financial plans and what you can do to best serve them. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge and solutions that will help you best serve your clients:

What are the requirements for a “safe haven” or conduit trust?
How do you avoid a “conduit trust disaster”?
When is it useful to use conduit trusts?

Access the related resources from this podcast:

H.R.1994 - Setting Every Community Up for Retirement Enhancement Act of 2019
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other SECURE Act podcasts!

SECURE Act: Practical Solutions for your Clients (12/17/2019)
Eligible Beneficiary Exception (1/10/2020)
IRAs payable to trusts (1/17/2020)
IRAs payable to conduit trusts (1/24/2020)
Mathematics of estate planning for IRAs (1/31/2020)
Estate Administration for IRAs and qualified plans (2/7/2020)

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

SECURE Act: IRAs payable to trusts {PFP Section} Jan 17, 2020

Guest: Bob Keebler, CPA/PFS

Now that the SECURE Act is in effect, you need to know how this impacts your clients’ financial plans and what you can do to best serve them. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge and solutions that will help you best serve your clients:

What is the key issue with trusts under the SECURE Act?
What is the “conduit trust disaster”?
When is it useful to use conduit trusts?
What are rules for beneficiaries and exception beneficiaries?

Access the related resources from this podcast:

H.R.1994 - Setting Every Community Up for Retirement Enhancement Act of 2019
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other SECURE Act podcasts!

SECURE Act: Practical Solutions for your Clients (12/17/2019)
Eligible Beneficiary Exception (1/10/2020)
IRAs payable to trusts (1/17/2020)
IRAs payable to conduit trusts (1/24/2020)
Mathematics of estate planning for IRAs (1/31/2020)
Estate Administration for IRAs and qualified plans (2/7/2020)

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

SECURE Act: Eligible Beneficiary Exceptions {PFP Section} Jan 10, 2020

Guest: Bob Keebler, CPA/PFS

Now that the SECURE Act is in effect, you need to know how this impacts your clients’ financial plans and what you can do to best serve them. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge and solutions that will help you best serve your clients:

What are the 5 eligible beneficiary exceptions under the provisions of the SECURE Act?
What solutions using trusts should you analyze to help your clients?
What does this mean for your clients in 2020 and beyond?

Access the related resources from this podcast:

H.R.1994 - Setting Every Community Up for Retirement Enhancement Act of 2019
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

Don’t miss other SECURE Act podcasts!

SECURE Act: Practical Solutions for your Clients (12/17/2019)
Eligible Beneficiary Exception (1/10/2020)
IRAs payable to trusts (1/17/2020)
IRAs payable to conduit trusts (1/24/2020)
Mathematics of estate planning for IRAs (1/31/2020)
Estate Administration for IRAs and qualified plans (2/7/2020)

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Use it or lose it: IRS issues final regulations on clawbacks {PFP Section} Dec 27, 2019

Guest: Bob Keebler, CPA/PFS

In T.D. 9884, the IRS finalized proposed regulations issued in November 2018 (REG-106706-18), amending Regs. Sec. 20.2010-1 to conform with the temporary increase in the basic exclusion amount for estate and gift tax enacted by the Tax Cuts and Jobs Act. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge that will help best serve your clients:

What is the basic exclusion amount (BEA) and supplemental BEA?
What are some examples showing the computation?
What does this mean for your clients?

Access the related resources from this podcast:

IRS final regulations to update the life expectancy and distribution period tables
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
The Adviser’s Guide to Financial & Estate Planning
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Privately-owned business + Donor advised fund = opportunity {PFP Section} Dec 20, 2019

Guest: Nadine Gordon Lee, CPA/PFS, CFP®, Managing Director, Metro NY Offices & President, Colony Group Family Office

Philanthropic planning is a unique opportunity for CPAs to help clients plan to use their wealth to support the public good. In this episode, Nadine Lee, CPA/PFS shares how you can help clients simplify and optimize gifting to charities by establishing donor advised funds.

What are the top five reasons to use a donor advised fund?
What are the tax opportunities you need to know about?
How can clients use a donor advised fund to make a donation of cash/marketable securities?
What are the unique opportunities to make a qualified donation using complex assets?

Access the related resources from this podcast:

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

SECURE Act: Practical Solutions for Your Clients {PFP Section} Dec 17, 2019

Guest: Robert Keebler, CPA/PFS

The SECURE Act passes as part of a spending package and is expected to be signed into law by the President before the end of the year to avoid a government shutdown. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge and solutions that will help you best serve your clients:

What are the important provisions of the SECURE Act that you need to know?
What are the most urgent issues to address with your clients?
What other solutions should you analyze to help your clients?
What new “traps” should you look out for?
What does this mean for your clients in 2020 and beyond?

Access the related resources from this podcast:

H.R.1994 - Setting Every Community Up for Retirement Enhancement Act of 2019
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

The proposed new life expectancy regulations for IRAs and qualified plans {PFP Section} Nov 29, 2019

Guest: Robert Keebler, CPA/PFS

After nearly 20 years since the current set of life expectancy tables were released by the IRS, the IRS released proposed regulations to update these tables for an increase in the average lifespan. In this episode, Bob Keebler, CPA/PFS will discuss practical knowledge that will help best serve your clients:

What are the changes you need to know about?
What is the impact on lifetime RMDs?
What are the transitional rules?
When do they become effective?
What are the tax issues to consider?

Access the related resources from this podcast:

IRS proposed regulations to update the life expectancy and distribution period tables
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
The Adviser’s Guide to Financial & Estate Planning
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Virtual currencies and IRS Revenue Ruling 2019-24 {PFP Section} Nov 22, 2019

Guest: Ryan Firth, CPA & Shehan Chandrasekera, CPA

Virtual currency experts Ryan Firth, CPA and Shehan Chandrasekera, CPA will discuss what you need to know about the recent IRS revenue ruling on virtual currencies to help you advise your clients:

What is virtual currency and cryptocurrency?
What are hard forks and airdrops?
What are the key takeaways from the IRS Q&A?
What are the practical challenges you need to be aware of?
How can you help your clients who transact in cryptocurrency?

Access the related resources from this podcast:

IRS Rev. Rul. 2019-24
Article: “IRS Revenue Ruling 2019-24: Hard Forks, Airdrops and Other Topics Related to the Taxation of Virtual Currency” by Ryan Firth
How the IRS is Approaching Cryptocurrency Compliance: Updates from the IRS Chief Counsel
New IRS Cryptocurrency Tax Guidance
IRS and FinCEN clarify cryptocurrency reporting rules: Like-Kind Exchanges, Specific ID, FBAR, and Airdrops
Podcast: Planning & tax considerations when transacting in virtual currency
Webcast: IRS Guidance on Taxation of Virtual Currency
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Year-end tax and financial planning strategies: Part 2 {PFP Section} Nov 15, 2019

Guest: Bob Keebler, CPA/PFS

Significant tax law changes are still hot topics in media and political landscapes, and your clients are still scratching their heads wondering what these changes mean for them. Now is the time for you to guide them in planning for their financial future. In this episode, Bob Keebler, CPA/PFS will discuss year-end planning strategies to help you advise your clients:

What education and gifting strategies are effective to leverage the advantages of 529 plans?
What are the tax incentives for investing in qualified opportunity zones?
Should your clients use the gift tax exemption before it sunsets by making large gifts before the end of 2025? Why you should start talking your clients about this now?
How can you use trusts with state income tax planning strategies?
What are the tax issues to consider?

Access the related resources from this podcast:

Don’t miss part 1 of this podcast!
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Useful Estate & Decision Charts from Steve Oshins
The Adviser’s Guide to Financial & Estate Planning
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Year-end tax and financial planning strategies: Part 1 {PFP Section} Nov 08, 2019

Guest: Bob Keebler, CPA/PFS

Significant tax law changes are still hot topics in media and political landscapes, and your clients are still scratching their heads wondering what these changes mean for them. Now is the time for you to guide them in planning for their financial future. In this episode, Bob Keebler, CPA/PFS will discuss year-end planning strategies to help you advise your clients:

What are the trade-offs for harvesting gains/losses and how can you determine the right decision for each client?
What strategies can you use to plan for your clients to effectively itemize deductions?
What is the donor advised fund and which types of clients should take advantage of this charitable giving strategy?
What impact would the SECURE Act have on Roth conversions?
What are the tax issues to consider?

Access the related resources from this podcast:

Don’t miss part 2 of this podcast!
Impact of Tax Reform on Planning Toolkit, including charts from Bob Keebler
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Lessons from the GE pension buyout: when employers change the terms of retirement plans: {PFP Section} Nov 01, 2019

Guests: Bob Keebler, CPA/PFS and Ed Slott

General Electric is offering buyouts to about 100,000 pensioners and freezing the retiree payments for about 20,700 salaried pensioners, as part of the company's effort to shed debt as it faces pressure to improve its performance. In this podcast, Bob Keebler, CPA/PFS interviews Ed Slott to answer the questions:

What are the key factors that CPA financial planners should consider for their clients who are impacted by the GE pension buyout?
How will the conversation differ for each employee? Which clients should consider taking the lump sum buyout?
What are the tax issues to consider?

Access the related resources from this podcast:

The Adviser’s Guide to Retirement and Elder Planning
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Integrating life coaching with the financial planning process {PFP Section} Oct 25, 2019

Guest: Jimmy J. Williams, CPA/PFS

The support, encouragement, and direction delivered through life coaching is an area where CPA financial planners can add tremendous value for clients by integrating it with the financial planning process. In this podcast, Jimmy J. Williams, CPA/PFS will share his life plan solution and answer the questions:

Why you should include a process that helps your clients see the bigger picture than just the numbers?
What is the life plan solution? How can you implement it in your client engagements?
What are the actionable steps you can take now to get the conversation and planning process started with your clients?

Access the related resources from this podcast:

AICPA’s Tax and Financial Planning Services hub
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the PFP certificate program.
Jimmy William’s Live a Life by Design website & podcast

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

How to talk to your clients about estate planning & actionable ideas to get started {PFP Section} Oct 18, 2019

Guest: Lisa Featherngill, CPA/PFS

It’s Estate Planning Awareness Week! And even though the Tax Cuts and Jobs Act doesn’t feel new, its effects are still being felt in many areas of your clients’ financial lives, including their estates. Clients may not know the impact of new and proposed rules on their estate, so now is the perfect time to talk with them about their plan. In this podcast, Lisa Featherngill, CPA/PFS will teach you:

How to connect the dots with your clients’ taxes, financial goals and estate plan
How to broach the subject with your clients, including qualitative and quantities aspects to consider
What to look for in your clients’ estate plans to make sure it’s aligned with their wishes and integrated with their financial plan
Actionable steps you can take now to get the conversation and planning process started with your clients

Access the related resources from this podcast:

Broadridge Advisor’s Women’s resource center (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
The Adviser’s Guide to Financial & Estate Planning
Demonstrate your competency in estate planning with the CPA/PFS credential or the estate planning certificate program.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Futurism & your tax and financial planning business {PFP Section} Oct 11, 2019

Guest: Mackey McNeill, CPA/PFS

Change is a universal constant. You want to be equipped to embrace it so that you can best serve your clients as the geopolitical and economic landscapes evolve. In this podcast, Mackey McNeill, CPA/PFS interviews futurist, David Houle to get his perspective on:

What’s going to be different in the 2020s and why
How do you plan inside this disruption?
What is “humanism” and how it will impact your relationships with and services provided to your clients

Access the related resources from this podcast:

Practical resources to grow, evolve and manage your practice
Demonstrate your competency in personal financial planning with the CPA/PFS credential or the personal financial planning certificate program.
About David Houle
- Moving to a finite earth economy: the future of humanity, climate and capitalism by David Houle

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Strategies for Optimizing Incentive Stock Options {PFP Section} Oct 04, 2019

Guest: Nadine Gordon Lee, CPA/PFS, CFP®, Managing Director, Metro NY Offices & President, Colony Group Family Office

In this podcast, Nadine Lee, CPA/PFS shares strategies and cases related to optimizing incentive stock options. She answers the questions:

What are the three ways that clients take action on incentive stock options?
What are the requirements of ISOs?
What can CPA financial planners do to help clients navigate this complex area of planning?
How do ISOs factor into a tax-smart comprehensive financial plan?

Access the related resources from this podcast:

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Taxes and Financing Retirement Healthcare {PFP Section} Sep 27, 2019

Guest: Ted Sarenski, CPA/PFS

In this episode, Ted Sarenski, CPA/PFS discusses the impact of taxes on financing retirement healthcare and answers the questions:

What are the major tax considerations CPA financial planners should take into account when advising clients on financing retirement healthcare?
What are some special tax considerations with Medicare?
What about long-term care and how to pay for it?
How can CPA financial planners help their clients navigate the overwhelming experience of finding suitable care and managing the related finances?

Access the related resources from this podcast:

Financial Planning & Tax Services hub at aicpa.org/growadvisoryservices
Retirement planning certificate, part of the PFP certificate program
Demonstrate your competence and confidence with the CPA/PFS credential!

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – you can hear our podcasts online anywhere via your web browser, no podcast app required. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Regulation Best Interest {PFP Section} Sep 20, 2019

Guest: Ellen Bruno, CPA/PFS, CGMA

In this episode, Ellen Bruno, CPA/PFS walks through the regulation best interest, Form CRS and the standard of conduct for investment advisers. She answers the questions:

What does the term solely incidental mean? What is the impact on dually-registered investment advisers?
What is the RIA fiduciary duty?
What is the customer relationship summary? And what are the compliance requirements?

Access the related resources from this podcast:

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

A cure for the SECURE Act: using CRTs {PFP Section} Sep 13, 2019

Guest: Bob Keebler, CPA/PFS & David Cahoone, JD, LLM

Category: Technical

In this episode, Bob Keebler, CPA/PFS discusses the planning strategies related to the proposed SECURE Act using charitable remainder trusts (CRTs) as beneficiaries as IRAs to simulate a stretch IRA. He answers the questions:

When the SECURE Act becomes law, what happens to the stretch IRA as we know it today?
If the stretch IRA is gone for most descendants, is there any hope for continued life stretch-out?
Is a stretch-out only a tax deferral strategy or is there more to it?
How would a CRT be structured to receive retirement benefits?
What are the tax consequences of naming a CRT of a retirement plan beneficiary?
And more!

Access the related resources from this podcast:

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Women & wealth: Supporting the surviving spouse (Part 4 of 4) {PFP Section} Sep 06, 2019

Guest: Paula McMillan, CPA/PFS, CGMA, Senior Financial Advisor at Stearns Financial Group

Category: Technical

“Widow” can feel like a 4-letter word. In this episode, Paula McMillan, CPA/PFS gives an overview of the unique financial issues and challenges that women face as a surviving spouse and your role as their CPA adviser in helping them with their financial life plan and make sound financial decisions. She answers the questions:

What are the actions and words you can use when interacting with your client who has just lost their spouse?
What are the complex financial issues that widowed women face?
How can you build trust with your women clients and support them so that you can help them through this transition?

Access the related resources from this podcast:

Broadridge Advisor’s Women’s resource center (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning podcast series by Paula McMillan

Don’t miss the other episodes in this series, Women & Wealth: Her Unique Needs:

Women taking the reins: financial influence on the move
Breadwinner women: sandwiched between career, children, and caregiver
Women navigating divorce: independence and finances
Widow can feel like a 4-letter word: supporting the surviving spouse

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Tax & investment planning in an ultra-low interest rate environment {PFP Section} Aug 30, 2019

Guest: Bob Keebler, CPA/PFS & Bob Gordon

Category: Technical

In this episode, Bob Keebler, CPA/PFS interviews Bob Gordon of Twenty-First Securities Corporation about the planning strategies in an ultra-low interest rate environment. He answers the questions:

What are the unique investment opportunities when interest rates are very low?
What special election can taxpayers make to reduce taxable income with bond premiums?
What tax arbitrage opportunities exist when rates are low?
What does it mean to have negative interest rates?

Access the related resources from this podcast:

Broadridge Advisor’s client alerts on market volatility (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Women & wealth: Women navigating divorce, independence and finances (Part 3 of 4) {PFP Section} Aug 23, 2019

Guest: Paula McMillan, CPA/PFS, CGMA, Senior Financial Advisor at Stearns Financial Group

Category: Technical

In this episode, Paula McMillan, CPA/PFS gives an overview of the unique financial issues and challenges that women face when navigating divorce and your role as their CPA adviser in helping them with their financial life plan and make sound financial decisions. She answers the questions:

What are the complex financial issues that women face when navigating divorce?
What are some key tenants you can share with your clients when they are navigating divorce, independence and finances?
How can you be an indispensable adviser for your clients when they are navigating divorce?

Access the related resources from this podcast:

Broadridge Advisor’s Women’s resource center (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning podcast series by Paula McMillan

Don’t miss the other episodes in this series, Women & Wealth: Her Unique Needs:

Women taking the reins: financial influence on the move
Breadwinner women: sandwiched between career, children, and caregiver
Women navigating divorce: independence and finances
Widow can feel like a 4-letter word: supporting the surviving spouse

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Are we headed for recession or not? What the inverted yield curve means {PFP Section} Aug 20, 2019

Guest: Bob Keebler, CPA/PFS & Dr. Robert LeClair

Category: Technical

In this episode, Bob Keebler, CPA/PFS interviews Dr. Robert LeClair about the recent market volatility and the lower interest rate environment, including:

What is an inverted yield curve?
What is the significance of an inverted yield curve?
What defines a recession?
What are the key indicators to look for when recession may be on the horizon?

Access the related resources from this podcast:

Broadridge Advisor’s client alerts on market volatility (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The 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 and 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 https://www.aicpa.org/interestareas/personalfinancialplanning.html to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app

Women & wealth: Breadwinner women sandwiched between career, children and caregiver (Part 2 of 4) {PFP Section} Aug 16, 2019

Guest: Paula McMillan, CPA/PFS, CGMA, Senior Financial Advisor at Stearns Financial Group

Category: Technical

In this episode, Paula McMillan, CPA/PFS gives an overview of the unique financial issues and challenges that women face and your role as their CPA adviser in helping them with their financial life plan and make sound financial decisions. She answers the questions:

What are the pressures facing women who are breadwinners?
What are the complex financial issues that these women face?
How can you help them navigate financial decisions?

Access the related resources from this podcast:

Broadridge Advisor’s Women’s resource center (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning podcast series by Paula McMillan

Don’t miss the other episodes in this series, Women & Wealth: Her Unique Needs:

Women taking the reins: financial influence on the move
Breadwinner women: sandwiched between career, children, and caregiver
Women navigating divorce: independence and finances
Widow can feel like a 4-letter word: supporting the surviving spouse

The 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 and 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 https://www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Women & wealth: financial influence on the move (Part 1 of 4) {PFP Section} Aug 09, 2019

Guest: Paula McMillan, CPA/PFS, CGMA, Senior Financial Advisor at Stearns Financial Group

Category: Technical

In this episode, Paula McMillan, CPA/PFS gives an overview of the unique financial issues and challenges that women face and your role as their CPA adviser in helping them with their financial life plan and make sound financial decisions. She answers the questions:

What are the common attributes of women and money?
What are the complex financial issues that women face?
How can you build trust with your women clients?

Access the related resources from this podcast:

Broadridge Advisor’s Women’s resource center (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning podcast series by Paula McMillan

Don’t miss the other episodes in this series, Women & Wealth: Her Unique Needs:

Women taking the reins: financial influence on the move
Breadwinner women: sandwiched between career, children, and caregiver
Women navigating divorce: independence and finances
Widow can feel like a 4-letter word: supporting the surviving spouse

The 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 and 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 and gain access to valuable member-only benefits.

Sustainable investing: How can you advise your clients? (Part 3 of 3) {PFP Section} Aug 02, 2019

Guest: Samuel Adams, CEO, Vert Asset Management

Category: Technical

In this episode, Samuel Adams, CEO, Vert Asset Management discusses sustainable investing and answers the questions:

How do you talk with your clients about sustainable investing?
What does the investment planning process look like? Then how do you recommend and/or implement sustainable investment portfolios for your clients?
How can sustainable investing impact your business?

Access the related resources from this podcast:

Vert Asset Management – expand your understanding of sustainable investing
Vert’s position paper, 'Sustainable Investing: From Niche to Normal’
Investment planning resources (from the AICPA PFP Section)
Investment planning certificate, part of the PFP certificate program

Don’t miss the other episodes in this series:

What is sustainable investing?
Why is it important for your clients?
How can you advise your clients?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Sustainable investing: Why is it important to your clients? (Part 2 of 3) {PFP Section} Jul 26, 2019

Guest: Samuel Adams, CEO, Vert Asset Management

Category: Technical

In this episode, Samuel Adams, CEO, Vert Asset Management discusses sustainable investing and answers the questions:

What are your clients’ motivations for sustainable investing?
What are advisers’ motivations for sustainable investing?
What opportunities do advisers have to become thought leaders for their clients?

Access the related resources from this podcast:

Vert Asset Management – expand your understanding of sustainable investing
Vert’s position paper, 'Sustainable Investing: From Niche to Normal’
Investment planning resources (from the AICPA PFP Section)
Investment planning certificate, part of the PFP certificate program

Don’t miss the other episodes in this series:

What is sustainable investing?
Why is it important for your clients?
How can you advise your clients?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Sustainable investing: What is it? (Part 1 of 3) {PFP Section} Jul 19, 2019

Guest: Samuel Adams, CEO, Vert Asset Management

Category: Technical

In this episode, Samuel Adams, CEO, Vert Asset Management

What is sustainable investing?
Why is it growing in popularity? And is it just a fad?
What are the different types of sustainable investing? What are the intentions and outcomes for each?

Access the related resources from this podcast:

Vert Asset Management – expand your understanding of sustainable investing
Vert’s position paper, 'Sustainable Investing: From Niche to Normal’
Investment planning resources (from the AICPA PFP Section)
Investment planning certificate, part of the PFP certificate program

Don’t miss the other episodes in this series:

What is sustainable investing?
Why is it important for your clients?
How can you advise your clients?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – you can hear our podcasts online anywhere via your web browser, no podcast app required. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Roth conversions and the proposed SECURE Act {PFP Section} Jul 12, 2019

Guest(s): Bob Keebler, CPA/PFS

Category: Technical

In this episode, Bob Keebler, CPA/PFS discusses the SECURE Act and retirement planning strategies, including Roth conversions. He answers the questions:

What are the relevant proposed provisions?
Which clients would be impacted?
What planning strategies and tactics will be effective?
What is the advantage of Roth conversions under the proposed SECURE Act?

Access the related resources from this podcast:

Impact of Tax Reform on Planning Toolkit

The 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. Visit us online at https://www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – you can hear our podcasts online anywhere via your web browser, no podcast app required. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device from your web browser or favorite podcast app.

Creating a cohesive online presence (part 2) {PFP Section} Jul 05, 2019

Guests: Erica Gellerman, CPA

Category: Practice management

In this episode, Erica Gellerman, CPA turned marketer is here to help you differentiate your CPA financial planning practice for their current and prospective clients.

What are the three Vs of creating a cohesive online presence?
How can you leverage your online presence, so your clients will know, like, and trust you?
What are the simple steps you can take now?

Access the related resources from this podcast:

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – you can hear our podcasts online anywhere via your web browser, no podcast app required. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Step 10: What are the simple actions I can take now? {Building a Tax & Financial Planning Advisory Business} Jun 28, 2019

Guests: Ted Sarenski, CPA/PFS & panelists: Jean-Luc Bourdon, Dirk Edwards, Michael Goodman, Brooke Salvini, Scott Sprinkle, Dave Stolz, and Susan Tillery

Category: Practice management

In this episode, recorded live at the AICPA ENGAGE pre-conference workshop – Building a Tax & Financial Planning Advisory Business – CPA financial planners share helpful resources and simple action steps to take in building their tax and financial planning advisory businesses.

What are the key resources they have used that will help you in practice?
What deliverables do you provide to clients?
What types of engagement letters do you use for tax and PFP engagements?
What are simple actions you can take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

How the Kaestner decision may impact your clients {PFP Section} Jun 25, 2019

Guest(s): Bob Keebler, CPA/PFS, Anna Moody, JD and David O’Neill, JD

Category: Technical

In NC Department of Revenue v. The Kaestner Family Trust, the Supreme Court determined whether the US Constitution’s due process clause prohibits states from taxing trusts based on trust beneficiaries’ in-state residency. In this episode, Bob Keebler, CPA/PFS interviews Anna Moody and David O’Neill answers the questions:

What was the Supreme Court’s ruling?
In which states will CPAs likely file amended returns or protective claims?
In what situations should CPAs advise clients to seek a refund from the state?
And more!

Access the related resources from this podcast:

Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes and Pod-o-matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Taxes and Risk Management & Insurance Planning {PFP Section} Jun 21, 2019

Guest: Susan Tillery, CPA/PFS & Tom Tillery, CFP®

Category: Technical

In this episode, Susan Tillery, CPA/PFS & Tom Tillery, CFP® discuss the impact of taxes on risk management and insurance and answers the questions:

What are the tax considerations practitioners should take into account when advising clients on the use of insurance contracts?
What tax nuances come into play when looking at the type and the amount of insurance coverage that is the most applicable based on your client’s facts and circumstances?
What are some effective strategies for protecting your clients and their businesses should there be an adverse event?

Access the related resources from this podcast:

Planning & Tax Advisory Services hub at aicpa.org/growadvisoryservices
Risk management & insurance planning certificate, part of the PFP certificate program

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – you can hear our podcasts online anywhere via your web browser, no podcast app required. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Step 9: How do I maximize use of technology? {Building a Tax & Financial Planning Advisory Business} Jun 14, 2019

Guests: Ted Sarenski, CPA/PFS & panelists: Jean-Luc Bourdon, Michael Goodman, Brooke Salvini, and Susan Tillery

Category: Practice management

In this episode, CPA financial planners share how they chose various technology with building their tax and financial planning advisory businesses.

What are the essential software programs for a tax and planning advisory business?
How can you leverage the cloud and secure your clients’ information and safely share information?
What are some examples of software programs to use for tax and financial planning services as well as business and client management?
What are simple actions to take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Step 8: What do I need to know if I decide to offer investment advisory services? {Building a Tax & Financial Planning Advisory Business} Jun 07, 2019

Guests: Ted Sarenski, CPA/PFS & panelists: Jean-Luc Bourdon, Scott Sprinkle, and Ellen Bruno

Category: Practice management

In this episode, CPA financial planners share their experiences with choosing whether or not to provide investment advisory services as part of their tax and financial planning advisory businesses and answer the questions:

Do I have to provide investment advisory services to provide tax and planning advisory services to my clients?
What constitutes investment advice?
How do I know if I need to register to provide investment advisory services?
Where can I find information on compliance with investment adviser regulations?
What are simple actions to take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Step 7: How do I structure staffing and work with other advisers? {Building a Tax & Financial Planning Advisory Business} May 31, 2019

Guests: Ted Sarenski, CPA/PFS & panelists: Chris DeBlanc, Scott Sprinkle, and Susan Tillery

Category: Practice management

In this episode, CPA financial planners share how to work with other advisers and professionals as part of the tax & financial planning team and answer the questions:

What is your role as the primary point of contact and how does that benefit your clients?
What are some effective strategies for working with other advisers who also put your clients’ interests first?
What are the challenges you might face in developing an adviser team? And how do you overcome them?
What are simple actions to take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Step 5: What is the best way to create deep relationships with clients? {Building a Tax & Financial Planning Advisory Business} May 17, 2019

Guests: Ted Sarenski, CPA/PFS & panelists: Jean-Luc Bourdon, Brooke Salvini, and David Stolz

Category: Practice management

In this episode, CPA financial planners share how to deepen client relationships within their tax and financial planning advisory businesses and answer the questions:

How can you create an environment – physical or virtual and emotional – to develop deeper relationships with your clients?
How can you build trust and connection with your clients?
What questions can you ask to learn what is most important to your clients?
What are the key ingredients in listening?
What are simple actions to take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology[SB1] ?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Taxes and Investment Planning {PFP Section} May 10, 2019

Guest: Matt Rosenberg, CPA/PFS

Category: Technical

In this episode, Matt Rosenberg, CPA/PFS discusses the impact of taxes on investment planning and answers the questions:

What are the major tax considerations practitioners should take into account when providing investment advice?
When do capital gains need to be carefully considered?
How do investment losses best serve a good tax plan?
How important is asset location?
Is timing a major consideration with investment changes?

Access the related resources from this podcast:

Planning & Tax Advisory Services hub at aicpa.org/growadvisoryservices
Investment planning certificate, part of the PFP certificate program

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Step 4: How do I approach new client meetings & offer financial planning services to current tax clients? {Building a Tax & Financial Planning Advisory Business} May 03, 2019

Guests: Ted Sarenski, CPA/PFS & panelists: Chris DeBlanc and Scott Sprinkle

Category: Practice management

In this episode, CPA financial planners share how they approach new client meetings and how to offer planning services to tax clients and answer the questions:

How does taking a humanistic approach to tax planning benefit your clients?
How do you approach a tax compliance client to transition them into planning services?
What are simple actions to take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Step 3: What are the appropriate fees to charge? {Building a Tax & Financial Planning Advisory Business} Apr 26, 2019

Guests: Ted Sarenski, CPA/PFS & panelists: Michael Goodman, Brooke Salvini, and Susan Tillery

Category: Practice management

In this episode, CPA financial planners share how they set their client fees in their tax & financial planning advisory businesses and answer the questions:

What are the benefits of a fee-only hourly, project, and retainer business models?
What are the pros and cons of charging based on assets under management (AUM)?
What should you consider when setting your fee for service?
What are simple actions to take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Step 2: How do I get started? {Building a Tax & Financial Planning Advisory Business} Apr 19, 2019

Guests: Ted Sarenski, CPA/PFS & fellow CPA/PFS panelists: Jean-Luc Bourdon, Ellen Bruno, Chris DeBlanc, Michael Goodman, Brooke Salvini, Scott Sprinkle, David Stolz, and Susan Tillery

Category: Practice management

In this episode, CPA financial planners share their experiences with building their tax and financial planning advisory businesses. Ted Sarenski, CPA/PFS interviews a panel of seasoned practitioners, who answer the questions:

What are the different ways to offer tax & financial planning services? Tax compliance or not? Investment advisory services or not?
Which business model is right for me?
How do I go about formalizing tax & financial planning services?
What are simple actions to take now?

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 1: Why should I offer tax & financial planning advisory services?
Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Step 1: Why should I offer tax & financial planning advisory services? {Building a Tax & Financial Planning Advisory Business} Apr 19, 2019

Guests: Andrea Millar, CPA/PFS & Susan Tillery, CPA/PFS

Category: Professional development

CPAs and financial planning have been around for over a century. Not because we’ve stayed the same, but because we evolve and adapt to finding new ways to better serve clients. You are forward-thinking and relationship-oriented professionals. These are exciting times that bring opportunities for you to lead the profession into the future with a focus on your clients’ needs. Andrea Millar and Susan Tillery discuss:

How client needs and expectations are evolving
What makes CPAs unique
How to continue providing the best service in times of change and uncertainty
What volunteer leaders and AICPA are doing to help

Access the related resources from this podcast:

Don’t miss the other episodes in this Building a Tax & Financial Planning Advisory Business series!

Step 2: How do I get started?
Step 3: What are the appropriate fees to charge?
Step 4: How do I approach new client meetings & offer financial planning services to current tax clients?
Step 5: What is the best way to create deep relationships with clients?
Step 6: How do I decide between serving as the primary point of contact or as a hyperspecialist?
Step 7: How do I structure staffing and work with other advisers?
Step 8: What do I need to know if I decide to offer investment advisory services?
Step 9: How do I maximize use of technology?
Step 10: What are the simple actions I can take now?

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Your business as a retirement asset {PFP Section} Apr 04, 2019

Guest(s): David Grau, Sr. & Michael Goodman, CPA/PFS

Category: Practice management

In this episode, Michael Goodman, CPA/PFS interviews David Grau, president & founder of FP Transitions, who shares the ABCs of succession planning. He answers the questions:

What exactly is a succession plan?
Why is a succession plan important? Does everyone need to have one?
How much time do you need to create a successful succession plan?
What’s the first thing you should consider when planning for succession?
What if the plan fails?

Access the related resource from this podcast:

Succession Planning for Financial Advisors: Building an Enduring Business by David Grau
Practice management tools and resources from AICPA PFP Section

The 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 and 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 and gain access to valuable member-only benefits.

Make sure to subscribe to our podcast channel on iTunes or Pod-o-Matic, so that you don’t miss an episode! And leave us a review so we can continue bringing valuable and relevant content to you.

Filing protective claims for refund {PFP Section} Apr 03, 2019

Guest(s): Bob Keebler, CPA/PFS & Mitchell Gans, JD

Category: Technical

In NC Department of Revenue v. The Kaestner Family Trust, the Supreme Court will determine whether the US Constitution’s due process clause prohibits states from taxing trusts based on trust beneficiaries’ in-state residency. In this episode, Bob Keebler, CPA/PFS interviews Professor Mitchells Gans, JD who answers the questions:

How does this issue impact your clients?
Who should file a protective refund claim?

Access the related resources from this podcast:

Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes and Pod-o-matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Lessons from the 9th hole: what current retirees have to say {PFP Section} Mar 29, 2019

Guest(s): Paula McMillan, CPA/PFS

Category: Technical

In this episode, Paula McMillan, CPA/PFS shares what current retirees have to say about retirement and lessons they’ve learned along the way. She answers the question: What are the six factors paramount to a successful retirement?

Access the related resources from this podcast:

Top seven mistakes when claiming Social Security benefits by Paula McMillan (The Tax Adviser)
The Adviser’s Guide to Retirement and Elder Planning, a multi-part guide series including life transitions.
Broadridge Advisor includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning certificate, part of the PFP certificate program

Don’t miss the other episodes in this series:

The 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 and 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 and gain access to valuable member-only benefits.

Make sure to subscribe to our podcast channel on iTunes or Pod-o-Matic, so that you don’t miss an episode! And leave us a review so we can continue bringing valuable and relevant content to you.

Making conversations count: integrated financial planning {PFP Section} Mar 22, 2019

Guest(s): Paula McMillan, CPA/PFS

Category: Technical

In this episode, Paula McMillan, CPA/PFS shares how to make conversations count when it comes to personal financial planning. She answers the questions:

What is your role and influence in your clients’ conversations with others around personal financial planning?
Why is it important for your clients to broaden and deepen financial conversations with family and friends and what is your role in enabling that?
How can you help your clients have purposeful conversations with family members and children about finances?

Access the related resources from this podcast:

Top seven mistakes when claiming Social Security benefits by Paula McMillan (The Tax Adviser)
The Adviser’s Guide to Retirement and Elder Planning, a multi-part guide series including life transitions.
Broadridge Advisor includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning certificate, part of the PFP certificate program

Don’t miss the other episodes in this series:

Will your clients have enough to retire?
What is the national state of retirement
Lessons from the 9th hole: what current retirees have to say

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes! And leave us a review so we can continue bringing valuable and relevant content to you.

Creating a cohesive online presence {PFP Section} Mar 15, 2019

Guests: Erica Gellerman, CPA

Category: Practice management

In this episode, Erica Gellerman, CPA turned marketer is here to help you differentiate your CPA financial planning practice for their current and prospective clients.

Why does a cohesive online presence matter?
What are the three Vs of creating a cohesive online presence?
How can you leverage your online presence, so your clients will know, like, and trust you?

Access the related resources from this podcast:

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

The 3 Rs of the retainer model {PFP Section} Mar 08, 2019

Guests: Ed Fulbright, Sheila Padden, & Chip Simon

Category: Practice management

In this episode, CPAs and financial planners share their experiences with the retainer fee model for their personal financial planning practices.

What is the retainer model? Why did they choose this fee-only model for their practice?
Is this model right for your practice?
How has it contributed to client satisfaction and client retention?
How can you transition tax clients to the retainer model?
If you’re considering adding or expanding into planning & tax advisory services, how can you leverage this model to best serve your clients?

Access the related resources from this podcast:

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Tax reform: Section 199A & tax season {PFP Section} Mar 01, 2019

Guest(s): Bob Keebler, CPA/PFS & Nick Passini, CPA

Category: Technical

On January 18th, the IRS released the highly-anticipated final regulations on Section 199A for the qualified business income deduction for pass-through entities. In this podcast, Bob Keebler, CPA/PFS interviews Nick Passini, CPA about the reality of tax season and Section 199A qualified business income deduction. Find out:

What is the most surprising challenge of 199A during tax season?
What questions are clients asking and how could you respond?
When should a client get an opinion letter vs. making a disclosure?
What real estate activities rise to the level of a trade or business?
And more

Access the related resources from this podcast:

Impact of Tax Reform on Planning Toolkit
AICPA Tax Reform Resource Center
Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
RSM article: Comparing the final and proposed regulations under Section 199A

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes and Pod-o-matic! And leave us a review so we can continue bringing valuable and relevant content to you.

Tax reform: Section 199A & retirement plan benefits {PFP Section} Mar 01, 2019

Guest(s): Bob Keebler, CPA/PFS & Ed Slott, CPA

Category: Technical

On January 18th, the IRS released the highly-anticipated final regulations on Section 199A for the qualified business income deduction for pass-through entities. In this podcast, Bob Keebler, CPA/PFS interviews Ed Slott, CPA intersection of Section 199A qualified business income deduction and retirement plan benefits. Find out:

What is the calculation of the retirement plan deduction in the context of Section 199A?
How can a Roth conversion reduce your income tax liability?
What is the one tool you can use for specified service business client who is close to the qualified business income deduction threshold?

Access the related resources from this podcast:

Impact of Tax Reform on Planning Toolkit
AICPA Tax Reform Resource Center
Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes! And leave us a review so we can continue bringing valuable and relevant content to you.

Will your clients have enough to retire? {PFP Section} Feb 15, 2019

Guest(s): Paula McMillan, CPA/PFS

Category: Technical

In this episode, Paula McMillan, CPA/PFS gives an overview of the current environment that your clients are face as they approach retirement age, including the obstacles and your role as their CPA adviser in helping them overcome them. She answers the questions:

What’s the one thing that matters most in retirement planning?
What trends in the retirement and personal obstacles are your clients facing that prevent them from saving for retirement?
What can you do to help your clients overcome the challenges they are facing?

Access the related resources from this podcast:

Top seven mistakes when claiming Social Security benefits by Paula McMillan (The Tax Adviser)
The Adviser’s Guide to Retirement and Elder Planning, a multi-part guide series including life transitions.
Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning certificate, part of the PFP certificate program

Don’t miss the other episodes in this series:

What is the national state of retirement
Making conversations count: integrated financial planning (March 15, 2019)
Lessons from the 9th hole: what current retirees have to say (March 15, 2019)

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

What is the national state of retirement {PFP Section} Feb 15, 2019

Guest(s): Paula McMillan, CPA/PFS

Category: Technical

In this episode, Paula McMillan, CPA/PFS. She answers the questions:

How has the vision of a meaningful retirement and the tools to achieve it evolved over the last several decades?
What is today’s vision of a meaningful retirement?
What do your clients fear most about financing retirement?
How can you guide your clients in designing a retirement that is meaningful to them?

Access the related resources from this podcast:

Top seven mistakes when claiming Social Security benefits by Paula McMillan (The Tax Adviser)
The Adviser’s Guide to Retirement and Elder Planning, a multi-part guide series including life transitions.
Broadridge Advisor includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.
Retirement planning certificate, part of the PFP certificate program

Don’t miss the other episodes in this series:

Will your clients have enough to retire?
Making conversations count: integrated financial planning (March 15, 2019)
Lessons from the 9th hole: what current retirees have to say (March 15, 2019)

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic! And leave us a review so we can continue bringing valuable and relevant content to you.

8 reasons why you need to offer elder care financial planning services to your clients Jan 30, 2019

Guest(s): Jim Sullivan, CPA/PFS

Category: Technical

In this podcast, Jim Sullivan, CPA/PFS, discusses elder planning strategies and answers these questions:

Why should you offer elder planning services to your clients?
How has elder planning practice changed over the last decade?
How can you help your clients navigate the complexities of elder planning?

You can continue your learning on this topic by attending this webcast taking place next week (eligible for discounted CPE). Also, stay tuned for the upcoming release of a new guide on this topic which will be part of The Adviser’s Guide to Retirement and Elder Planning series. Stay in the loop with all PFP podcasts by subscribing to our channel on iTunes or Pod-o-Matic.

Tax reform: When does real estate qualify for the 199A deduction {PFP Section} Jan 23, 2019

Guest(s): Bob Keebler, CPA/PFS

Category: Technical

On January 18th, the IRS released the highly-anticipated final regulations on Section 199A for the qualified business income deduction for pass-through entities. In this podcast, Bob Keebler, CPA/PFS shares details on the provisions, specifically Notice 2019-07 and answers:

When does real estate qualify as a trade or business for purposes of the 199A qualified business income deduction?

Access the related resources from this podcast:

Impact of Tax Reform on Planning Toolkit
AICPA Tax Reform Resource Center
Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Tax reform: Section 199A final regulations {PFP Section} Jan 23, 2019

Guest(s): Bob Keebler, CPA/PFS

Category: Technical

On January 18th, the IRS released the highly-anticipated final regulations on Section 199A for the qualified business income deduction for pass-through entities. In this podcast, Bob Keebler, CPA/PFS shares an overview of the IRS guidance that was released. Find out:

What are the major changes in Final 199A regulations, including changes to the aggregation regulations and how to net income across businesses?
What are the methods for calculating W-2 wages under Revenue Proc. 2019-11?
What is the real estate safe harbor under Notice 2019-07?
How do you use the basis increase with 754 election to compute UBIA?
What do you need to know about the new proposed 199A regulations?

Access the related resources from this podcast:

Impact of Tax Reform on Planning Toolkit
AICPA Tax Reform Resource Center
Broadridge Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms.

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Taxes and Estate Planning {PFP Section} Jan 11, 2019

Guest(s): Lisa Featherngill, CPA/PFS

Category: Technical

In this podcast, Lisa Featherngill, CPA/PFS discusses the impact of taxes on estate planning and answers the questions:

What are the major tax considerations practitioners should take into account when doing estate planning?
What pitfalls should clients be aware of?
What are some good strategies for reducing taxes on an estate?
To what extent should clients make use of the tax-free annual gift exclusion?

Access the related resources from this podcast:

Planning & Tax Advisory Services hub at aicpa.org/growadvisoryservices
Estate planning certificate, part of the PFP certificate program

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes! And leave us a review so we can continue bringing valuable and relevant content to you.

Education planning tips for 2019 {PFP Section} Jan 04, 2019

Guest(s): Ross Riskin, CPA/PFS

Category: Technical

In this podcast, Ross Riskin, CPA/PFS discusses college and financial aid planning tips from The Adviser’s Guide to Education Planning. He specifically addresses:

Timing of tuition bill payments
Determining retirement planning contributions
Impact of allowances, including the education savings and asset protection allowance

Access the related resources from this podcast:

The Adviser’s Guide to Education Planning

The 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. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes! And leave us a review so we can continue bringing valuable and relevant content to you.

Our TOPPODCAST Picks

Follow Us

Stay Connected

AICPA Personal Financial Planning (PFP)

Related Podcasts

Links

Stay Connected