AICPA Personal Financial Planning (PFP)

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.

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.

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.

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.

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.

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.

Learn how to engage clients with effective questions about their estate plan. Discover the importance of estate planning and the role of financial advisors in providing full tax advice. Understand the significance of including the next generation in estate planning and updating plans. Access valuable resources for further information and recommended articles.

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.

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.

Dave Dyer, expert in oil and gas investments, joins Bob Keebler to discuss using oil and gas investments to offset passive losses. They explore the long-term prospects of the industry, the exceptional tax code opportunity for deductions, special treatment and liability insurance for general partners, tax benefits of oil and gas investments, and provide valuable resources on the AICPA PFP section website.