AICPA Personal Financial Planning (PFP)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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! Cultivating mindfulness in your practice Team building for the next generation 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