AICPA Personal Financial Planning (PFP)

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.

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.

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.

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.

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.

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.

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.

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.

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. Part 1: Important planning strategies in 2021: Step up in basis Part 2: Important planning strategies in 2021: Estate Part 3: Important planning strategies in 2021: Capital gains Part 4: Important planning strategies in 2021: Itemized deductions Proactive Planning Toolkit In-depth learning and slides: The latest and greatest with Roth conversion 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.

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.