AICPA Personal Financial Planning (PFP)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.