Current PFP News 


    Register for Integrated Personal Financial Planning for Business Owners on October 17 from 1-2:45pm ET.

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    PFP News

     

    Member-Exclusive News, Resources and Events

     

    September 17, 2014

    In This Issue

    From Tax Preparer to Financial Planner: The Road Best Traveled

    Implementing Personal Financial Planning Services: A Plan for Success

    Advocacy: AICPA Urges Congress to Act Now on Tax Extenders

    Forefield Alert: New Concept Pieces, Videos, Other Materials

    Explore the PFP Collection in the Online Professional Library

    CPA/PFS Corner: Register Now for November 2014 PFP Boot Camps

     

     

    PFP News & Resources

     

    Series: From Tax Preparer to Financial Planner: The Road Best Traveled

     

    Invite your staff or colleagues who have an interest in building their planning knowledge.

    Many CPA financial planners added financial planning services to their tax practices because their clients asked questions that went beyond taxes, including educating children, transferring wealth, protecting assets, funding retirement, etc. These CPAs have built their financial planning practices off of their existing tax practices, and take an integrated approach in the delivery of financial planning services to ensure all of their clients' needs are met, including tax, estate, retirement, investments and insurance. Not only does this expansion of service offerings open up new revenue streams, but also helps in retention of clients and staff in addition to bringing CPA financial planners fulfillment as they work to help their clients realize their financial goals.

    The following steps will help you transition from tax preparer to financial planner:

     

    Step 1: Understanding The Value of Personal Financial Planning (free overview webcast on Oct. 22, 2014).

    Step 2: Moving From Tax Planning to Integrated Financial Planning for Individuals, Families And Business Owners (2-day virtual session with free overview session Oct. 29-30, 2014).

    Step 3: Implementing a PFP practice: A Plan for Success (live workshop on Jan. 17-18, 2015).

     

    Attend all or portions of this 3-part series to assist you in moving from tax return preparer to financial planner. Registration information is available on the PFP web site and under the Events below.

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    Implementing Personal Financial Planning Services: A Plan for Success

     

    In Step 3 of the Tax Preparer to Financial Planner series (see above), a panel of successful CPAs in the most common business models will share their insights on how they have built their practice to provide the highest value for their clients while also running a successful business. You'll also hear from compliance, technology and practice management experts who will provide the guidance you need to be most successful in providing these services. The agenda for this 2 day preconference session (January 17-18 at the Bellagio, Las Vegas) features:

     

    A panel of nine CPAs providing an in-depth review of their business models

     

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    Roundtable discussions with panelists

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    Resources, tools and learning integral to success

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    The economics behind getting this service off the ground and what to expect in terms of revenue along the way

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    How they charge for these services and compensate partners and staff

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    How they converted tax clients into PFP clients

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    And much more!

    How to Get Started

    Regulatory & Compliance

    Technology Topics

    Practical Approach to Client Meetings

     

    Whether you are a seasoned planner interested in strengthening your practice to serve your clients and your increase your bottom line more effectively or new to this area and looking to add, expand or formalize PFP services within your firm, don't miss the opportunity to hear from some of the most successful CPA financial planners. Register for the 2-day session only or bundle with the 2015 Advanced PFP Conference. Save an additional $100 off of the AICPA member price.

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    Advocacy: AICPA Urges Congress to Act Now on Tax Extenders

     

    The AICPA sent a letter urging House and Senate tax committee members to immediately address the 57 tax provisions that expired at the end of 2013 and six provisions that expire at the end of 2014 so that taxpayers can have more certainty. "These ever-changing, often expiring, short-term changes to the tax laws make it increasingly difficult for small businesses and their owners to perform any long-term tax, cash-flow or financial planning. If businesses are not able to rely on these tax benefits for the long-term, they are limited in their ability to plan, invest, grow and expand, and hire additional workers," the AICPA wrote. Acting now would also prevent unnecessary delays in the tax filing season and further distortions in financial reporting.

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    Forefield Alert: New Concept Pieces, Videos, Other Materials

     

    Here are a few of the materials Forefield Advisor has added over the last few months. Visit Forefield to access these new materials and customize for your clients.

    Recently Added Concept Videos

     

    Retirement Savings Challenges for Women

    College Net Price Calculators

     

    Recently Added Concept Pieces

     

    Estate Planning and Income Tax Basis

    Bitcoin: Fad or the Future?

    Members of the Military: Estate Planning

    Five Key Benefits for Military Families

    Members of the Military: Planning for Retirement

    Members of the Military: Personal Financial Planning

     

    Other Materials

     

    Saving for Retirement: Inside a Plan vs. Outside a Plan

    Calculator Basis: Carryover or Stepped-Up

    What is a carryover basis for property you receive by gift?

    What is a stepped-up basis for property you inherit?

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    Explore the PFP Collection in the Online Professional Library

     

    The PFP Collection in the Online Professional Library is a web-based collection of PFP guides covering everything from technical content on planning for Social Security, healthcare in retirement, and in-depth tax and estate issues to practice management and professional responsibilities like technology considerations, investment advisory business models, and applicable standards. The online library allows you to search, bookmark and download to PDF from one convenient location, as well as allows for more frequent updates to content. Explore the library today and stay tuned to PFP News for a demo of OPL coming soon!

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    CPA/PFS Corner

     

     

    The fall/winter 2014 PFS exam will be offered December 15, 2014 - January 26, 2015. Learn more at aicpa.org/PFSexam.

    Register Now for November 2014 PFP Boot Camps
    Whether you are preparing for the fall/winter
    2014 PFS exam (offered December 15, 2014 - January 26, 2015) or simply refreshing your tax, estate, retirement, investment, and risk management skills, this class will provide a systematic overview of all PFP topics, including the Statement on Standards in PFP Services. Tom Tillery, an experienced practitioner and instructor, covers the material in an engaging format and includes real-life scenarios and practical guidance. There are three ways to take advantage of this learning opportunity: in-person in Columbus, OH on November 5-7 (24 hours of CPE); online during November (20 hours of CPE); or an on-demand video archive (no CPE). Register for the one that fits your budget and schedule!

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    Other News

     

     

    2015 Advanced PFP Conference Agenda
    The AICPA Advanced Personal Financial Planning Conference is known as the most technically advanced in the country as it relates to estate, retirement, tax, investment and risk management planning. Attendance has more than doubled since 2009 with record numbers in 2014. Join your peers to share ideas, network and learn from the best speakers in this discipline during the 2015 AICPA Advanced Personal Financial Planning Conference (January 19-21 at the Bellagio, Las Vegas). Download the early bird brochure to learn more about the outstanding line-up sessions. Save $175 when you register by December 5.

    Provide Input on the Next Version of CPA Exam
    The AICPA has requested feedback from key stakeholders by December 2nd to shape the next version of the Uniform CPA Examination. PFP is forecasted to grow two times faster than the accounting profession through 2017 (IBISWorld 2012 and Deloitte) and the Bureau of Labor Statistics has projected the need for the number of personal financial advisors to increase 27 percent nationwide between 2012 and 2022. Ensure that the relevance of PFP is adequately captured in the next version of the CPA exam by responding to this request to comment at aicpa.org/NextCPAExam.

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    Events

     

    Event recordings and materials are posted once available to aicpa.org/pfp/webcasts if you would like to listen again or if you are not able to attend the live event.

    Upcoming Free Webcasts:

    Today! Email Disclaimers: Deal or No Deal? A Review of Recent Circular 230 Changes
    September 17, 1-2:45pm ET
    Ed Karl, CPA and Karen Hawkins
    Discounted CPE.

    Integrated Personal Financial Planning for Business Owners
    Part 3 of The CPA's Guide to Financial and Estate Planning Series
    October 17, 1-2:45pm ET
    Steve Siegel, J.D., LL.M.
    Free without optional, discounted CPE for PFP/PFS members.

    How CPAs Can Thrive in the New World of Estate Planning for Clients Under $10M Net Worth
    October 21, 1-2:45pm ET
    Martin Shenkman, CPA/PFS, J.D.
    Free without optional, discounted CPE for PFP/PFS members.

    Insurance Trusts: Practical Planning and Practice Development Ideas for Lots of Clients
    October 28, 2-3pm ET
    Marty Shenkman, CPA/PFS, J.D.
    Free with CPE for PFP/PFS members.

    Washington Tax Brief
    October 29, 1-2pm ET
    Ed Karl, CPA and Melissa Labant, CPA/PFS, J.D.
    Free without optional, discounted CPE for PFP/PFS members.

    Essential Post-Mortem Planning Decisions
    Part 4 of The CPA's Guide to Financial and Estate Planning Series
    November 5, 1-2:45pm ET
    Steve Siegel, J.D., LL.M.
    Free without optional, discounted CPE for PFP/PFS members.

    CPA/PFS Perspectives on Life Insurance
    November 6, 1-2:45pm ET
    Marc Minker, CPA/PFS, Susan Bruno, CPA/PFS, Leonard Wright, CPA/PFS, Susan Tillery, CPA/PFS
    Free without optional, discounted CPE for PFP/PFS members.

    Investment Tax Planning - Creating Tax Alpha
    December 4, 1-2:45pm ET
    Chris Benson, CPA/PFS, Bob Keebler, CPA/PFS, MST, AEP and Scott Sprinkle, CPA/PFS
    Free without optional, discounted CPE for PFP/PFS members.

    Save the Dates!
    Registration links will be available soon in PFP News.

    Protecting You and Your Loved Ones: Estate Planning Building Blocks
    October 20, 1-2pm ET
    Susan Bruno, CPA/PFS and Bernard A. Krooks, J.D., CPA, LLM, CELA, AEP® (Distinguished) Nominee
    Invite your clients to this consumer-oriented webcast. Free to everyone without CPE.

    CPA Financial Planning Thought Leadership: The Outlook for CPA Financial Planning Profession
    October 30, 1-2pm ET
    Randy Abeles, CPA, Lyle Benson, CPA/PFS, Ernest Clark, CPA/PFS, Michael Goodman, CPA/PFS
    Free without optional, discounted CPE for PFP/PFS members.

    Year-End Financial and Tax Planning Strategies to Address ATRA, Net Investment Income Tax, and More
    November 10, 1-2:45pm ET
    Lisa Featherngill, CPA/PFS, Bob Keebler, CPA/PFS, MST, AEP, Ted Sarenski, CPA/PFS, Scott Sprinkle, CPA/PFS
    Free without optional, discounted CPE for PFP/PFS members.

    CPA Financial Planning Thought Leadership: Investment Planning
    November 12, 1-2:45pm ET
    Lyle Benson, CPA/PFS, Joanne Hagopian, CPA, Scott Sprinkle, CPA/PFS, Tom Trainor, CPA, CA
    Free without optional, discounted CPE for PFP/PFS members.

    Series: From Tax Preparer to Financial Planner: The Road Best Traveled

    Step 1: Understanding the Value of Personal Financial Planning (Webcast)

    Register for Step 1 & 2 bundle or for each event separately.
    From Client Tax Returns to Value-Added Financial Planning: How CPAs Can Get in the Game
    October 22, 1-2:45pm ET
    Michael Goodman (Moderator), Randy Abeles, Chris Benson, Susan Tillery, Dave Stolz
    Free to ALL; optional, discounted CPE for PFP/PFS members.

    Step 2: Moving from Tax Planning to Integrated Financial Planning for Individuals, Families and Business Owners (2-Day Virtual Session)
    Register for Step 1 & 2 bundle or for each event separately.

    Overview: Expand Your Financial Planning Practice through Your Client's Tax Return
    October 29, 10:30am-12:15pm ET
    Bob Keebler, Ted Sarenski and Susan Tillery
    Free to ALL; optional, discounted CPE for PFP/PFS members.

    The Practical Side of Investment Planning
    October 29, 1-2:45pm ET
    Bob Keebler, Ted Sarenski and Scott Sprinkle
    Discounted CPE; archived recording free to PFP/PFS members.

    The Practical Side of Estate Planning
    October 29, 3-4:30pm ET
    Bob Keebler, Steve Siegel, Scott Sprinkle and Susan Bruno
    Discounted CPE; archived recording free to PFP/PFS members.

    The Practical Side of Retirement Planning
    October 30, 10:30am-12:00pm ET
    Ted Sarenski, Steve Siegel and Scott Sprinkle
    Discounted CPE; archived recording free to PFP/PFS members.

    The Practical Side of Risk Management & Insurance Planning
    October 30, 12:30-2:00pm ET
    Susan Bruno and Tom Tillery
    Discounted CPE; archived recording free to PFP/PFS members.

    Comprehensive Personal Financial Planning Case Study
    October 30, 2-4:30pm ET
    Susan and Tom Tillery
    Discounted CPE; archived recording free to PFP/PFS members.

    Step 3: Implementing PFP Services: Step-by-Step Plans for Success (Live Session)
    January 17-18, 2015 at the Bellagio, Las Vegas
    Must be purchased separately from Step 1 & 2 bundle.
    See registration information below under "Upcoming Conferences."

    Upcoming Conferences:

    AICPA Sophisticated Tax Planning for Your Wealthy Clients
    November 17-18
    Loews Philadelphia Hotel
    Attend live or virtually. PFP/PFS members save $100 off the early-bird and AICPA member discounts.

    AICPA Advanced Personal Financial Planning Conference
    January 19-21, 2015
    Bellagio, Las Vegas
    Attend live or virtually. PFP/PFS members save $100 off the early-bird and AICPA member discounts.

    Implementing PFP Services: Step-by-Step Plans for Success
    January 17-18, 2015
    Bellagio, Las Vegas
    Attend the 2-day session only or bundle with the Advanced PFP Conference. PFP/PFS members save $100 off the AICPA member price.

    Tax Efficient Investing Seminar
    January 18, 2015
    Bellagio, Las Vegas
    Attend the 1-day session only or bundle with the Advanced PFP Conference. PFP/PFS members save $100 off the AICPA member price.

     

    Contact Us

     

    Email the PFP Team: financialplanning@aicpa.org Visit our home page: aicpa.org/pfp

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