AICPA Personal Financial Planning (PFP)

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.

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.

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.

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.

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: Related Journal of Accountancy article The Adviser’s Guide 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 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.

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.

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: T3/Inside Information 2020 Advisor Software Survey full report Technology for a Tax and Financial Planning Business hub 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.

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: What’s next: life after the pandemic (https://future.aicpa.org/resources/podcast/whats-next-life-after-the-pandemic) How to help clients make good decisions in times of change (https://future.aicpa.org/resources/podcast/how-to-help-clients-make-good-decisions-in-times-of-change) How to deepen client relationships during the pandemic (https://future.aicpa.org/resources/podcast/how-to-deepen-client-relationships-during-the-pandemic) 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.

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: Part one of the importance of addressing long-term care planning - https://www.aicpa.org/interestareas/personalfinancialplanning/cpeandevents/learning-library.html 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.

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.