Current PFP News 


    Register for the Advanced PFP Conference by December 5th and take $175 off the already reduced AICPA member price.

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    PFP News

     

    Member-Exclusive News, Resources and Events

     

    November 19, 2014

    In This Issue

    December 3: Avoiding Common Estate Planning Mistakes

    December 4: Investment Tax Planning - Creating Tax Alpha

    Sample Client Letter: Planning Opportunities for POAs

    Forefield Alert: 2015 Key Numbers Available

    Bob Veres E-Column: Distribution Database

    Bob Veres Media Reviews: How Risky Should Your Clients Be?

    Added to the Webcast Library: November Webcasts

    CPA/PFS Corner: PFS Exam Registration

    PFP Conference Corner: Spotlight on the Retirement Track

    PFP Conference Corner: Opportunity to Sponsor University Students at the PFP Conference

     

     

    PFP News & Resources

     

    December 3: Avoiding Common Estate Planning Mistakes

     

    Clients' situations and goals can increase the complexity of their estate plans, adding to the many details that need to be addressed for a proper implementation to avoid unintended consequences. On December 3 from 3-5pm ET, Jere Doyle will uncover key pitfalls to avoid as you advise your clients in the area of estate planning. By the end of this webcast you will be able to:

     

    Explain the need for balance sheets with your clients

    Clearly discuss the need for living trusts

    Identify and stealth assets

    IRA Distribution to Trust

    Explain the need for changes to beneficiary information after divorce

    The consequences of failures to allocate GST Exemption

    And more!

     

    PFP/PFS members can purchase discounted CPE.

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    December 4: Investment Tax Planning - Creating Tax Alpha

     

    The American Taxpayer Relief Act of 2012 and net investment income tax (NIIT) have added more complexity to planning. You now have to navigate through a multi-layer tax system in conjunction with running multi-year scenarios to gain a clear picture of the tax landscape in order to advise your clients on virtually all of their personal financial planning decisions. The increased value created in an investment portfolio by using tax saving strategies is referred to as "Tax Alpha®."

    In this webcast, a panel of CPA financial planners - including Bob Keebler, Scott Sprinkle, and Chris Benson - will discuss strategies, including how to:

     

    Effectively implement drawdown strategies

    Efficiently manage charitable giving

    Implement IRA and Roth IRA strategies

    Reduce "tax-drag" on investment portfolios

     

    This webcast is free for PFP/PFS members without optional, discounted CPE for purchase.

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    Sample Client Letter: Planning Opportunities for POAs

     

    Download and customize this sample client letter from Martin Shenkman, CPA, MBA, PFS, AEP, JD, which identifies overlooked planning opportunities in a client's power of attorney, including revising the POA to remove a gift provision, broadening the annual exclusion clause, giving your agent appropriate authority in the POA (particularly if you have created an irrevocable trust in recent years that includes swap powers to bring assets back into your estate to minimize capital gains costs) and more.

    In a video presentation entitled New Planning Opportunities for Tax & Financial Planners, Martin Shenkman and Sid Kess explain the concepts explained in the letter and other planning opportunities, including why CPAs are well positioned to lead planning in this area. For more estate planning resources, including recordings of recent presentations by Martin Shenkman, visit aicpa.org/pfp/estate.

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    Forefield Alert: 2015 Key Numbers Available

     

    Forefield Advisor’s popular 2015 Key Numbers piece can be used to get a head start on creating client plans for the new year, or to connect with prospects and other centers of influence. Newly updated, this piece lists key figures for 2014 and 2015. For maximum flexibility, Key Numbers is available in two different formats:

     

    As a stand-alone PDF document (includes 2013 data in addition to 2014 and 2015)

    As an available Presentation in the innovative Advisor™ Presentation Center that can be customized with your picture, logo, contact details, and introductory note

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    Bob Veres E-Column: Distribution Database

     

    In this e-column, Bob Veres reviews Capital Gains Valet, a free site which allows advisors to search for any fund from over 90 fund families and get a link to the fund's estimated distributions. Utilize this useful site as you consider tax loss harvesting and year-end planning for your clients.

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    Bob Veres Media Reviews

     

    Bob Veres Media Reviews are designed to save you hours of reading time each month -- giving you time for more productive activities. Read Bob's write-ups of articles in November's Financial Planning magazine including "How Risky Should Your Clients Be?" by Michael Kitces. Access other editions of media reviews, Inside Information and e-columns.

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    Added to the Webcast Library: November Webcasts

     

    All PFP Section webcasts are archived at aicpa.org/pfp/webcasts.

    Essential Post-Mortem Planning Decisions
    Many clients do not create the ideal estate plan prior to their deaths. Fortunately, there are many excellent techniques available to repair a less-than-perfect estate plan. In this webcast, Steve Siegel, author of
    The CPA's Guide to Financial and Estate Planning, covers a number of key post-mortem planning decisions the planner can address with the decedent's survivors to minimize estate and income tax burdens.

    CPA/PFS Perspective on Addressing Client Life Insurance Questions in your Practice
    Life insurance is a tool that CPA practitioners use to address estate planning, asset protection, and risk management needs. Many CPAs have varying degrees of uncertainty about handling life insurance questions and policies for their clients. In this webcast, a panel of experienced CPA/PFS credential holders discusses how they manage these issues within their practices and with their clients.

    Year-End Financial and Tax Planning Strategies to Address ATRA, NIIT, and More
    The integration of tax planning with your client's investment, retirement and estate planning strategy is critical to achieving long term favorable outcomes. CPA financial planners have an unprecedented opportunity to demonstrate their value to clients by providing guidance, planning, and tax expertise in 2014. In this webcast, a panel of experts lead CPA financial planning practitioners through a discussion of actionable strategies that they are implementing with their clients before December 31.

    CPA Financial Planning Thought Leadership on Investment Planning
    The intersection of investment planning with tax and retirement strategies positions CPAs to take the lead in holistically providing these services to their clients. In this webcast, a panel of CPA financial planner thought leaders discuss investment strategies in light of current market conditions, client risk tolerance, other planning goals and objectives, as well as how to implement recent academic research into your clients overall investment plan.

    Outlook for the CPA Financial Planning Profession
    In the CPA financial planning profession, the demands and needs of our clients have never been more important and complex as people grapple with the complexity of personal finances. In this webcast, a panel of CPA financial planners and thought leaders share their perspectives on the current landscape and outlook for the profession including recent trends impacting clients and CPAs, practical considerations and challenges, and expectations for what's next.

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    CPA/PFS Corner

     

     

    PFS Exam Registration
    The fall/winter 2014 PFS exam will be offered December 15, 2014 - January 26, 2015 at convenient testing centers located across the country. Add the
    self-study review course to your order to earn an additional 10% discount. Learn more at aicpa.org/PFSexam.

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    PFP Conference Corner

     

     

    2015 Advanced PFP Conference: Spotlight on the Retirement Track
    The Advanced PFP Conference has
    tracks to meet your needs regardless of your area of expertise, including retirement planning, tax and wealth management planning, investment management, insurance and risk management, and practice management and technology. Choose to focus your time in one track or mix things up.

    The
    retirement planning track includes sessions on optimizing income and reducing volatility in retirement using annuities, tax-preferenced retirement savings strategies for high-income individuals, estimating the true cost of retirement, longevity risk - investment and insurance decisions, safe withdrawal rates in retirement, continuing care retirement communities and more.

    Learn more and register by December 5th to receive up to $175 off of the already reduced AICPA member price with the early bird discount and PFP/PFS member discount.

    Opportunity to Sponsor University Students at the Advanced PFP Conference
    As a CPA financial planner, you already know that CPAs are perfectly positioned to provide PFP advice and what better way to start students on the pathway to becoming a CPA financial planner than to experience the
    2015 AICPA Advanced Personal Financial Planning Conference where they can network and learn from the best of the best in this discipline. Pass on your passion for the profession to the next generation as well as identify talented entry-level staff for your financial planning practice!

    Your contribution will be used to reduce the costs for attending students, on-site activities for students such as a hospitality suite, or both. If you choose, you can sponsor specific students from a university you designate, which is best accomplished through direct contribution to that university. Your gift will help to strengthen the connection between financial planning and the CPA profession and build a pipeline for future generations to carry on the work you are so passionate about. Minimum sponsorship is only $350. Email the
    sponsorship form and any additional questions to financialplanning@aicpa.org if you are interested.

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    Other News

     

     

    Research Papers: Retirement Income Strategies
    Download new retirement research from Michael Kitces and Wade Pfau on retirement risk, rising equity glidepaths and valuation-based asset allocation. Stay tuned for in-depth webcasts in 2015 that dive deeper into this research.

    New Planning Opportunities for Tax &s Financial Planners
    In this presentation, Sidney Kess, CPA, J.D., LL.M. and Martin Shenkman, CPA, MBA, PFS, AEP, JD assist practitioners in understanding new planning opportunities in light of changes in the tax paradigm, client demographics, technology, and clients' views of professional services.

    Passive Activities Estate and Trust Considerations
    In this presentation, Sidney Kess, CPA, J.D., LL.M. and Robert S. Barnett, CPA, JD, MS (Taxation) discuss the importance of understanding the passive activity rules as they relate to estates and trusts, in particular with respect to opportunities and pitfalls with the new 3.8% net investment income tax.

    Questions and Answers: The Affordable Care Act
    In this presentation, Sidney Kess, CPA, J.D., LL.M. and two of the nation's leading authorities on the ACA, Vern Hoven, CPA and Sharon Kreider, CPA, discuss an overview of the ACA, including the individual and employer mandates, penalties, and credits, how technical corrections can be made to the law, where to buy insurance - including state exchanges and healthcare.gov, different tiers of plans (gold, bronze, etc.), and how the ACA affects 2014 tax returns.

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    Events

     

    Event recordings and materials are posted to aicpa.org/pfp/webcasts if you would like to listen again or if you are not able to attend the live event. Unless otherwise noted, PFP Section-sponsored webcasts are offered free without optional, discounted CPE for PFP/PFS members.

    Upcoming Webcasts:

    Advanced PFP Series: Avoiding Common Estate Planning Mistakes
    December 3, 3-5pm ET
    Discounted CPE

    Investment Tax Planning - Creating Tax Alpha
    December 4, 1-2:45pm ET
    Free | Discounted CPE

    CPA/PFS Perspectives on the Next Generation of CPA Financial Planners
    December 16, 1-2:45pm ET
    Free to ALL | Discounted CPE

    Upcoming Conferences:

    AICPA Advanced Personal Financial Planning Conference
    January 19-21, 2015
    Bellagio, Las Vegas
    Live | Virtual
    PFP/PFS members save an additional $100 on the early-bird and AICPA member discounts.

    Implementing PFP Services: Step-by-Step Plans for Success January 17-18, 2015 Bellagio, Las Vegas 2-day session only | Bundle with PFP Conference PFP/PFS members save an additional $100 on the AICPA member price.

    Tax Efficient Investing Seminar

    January 18, 2015
    Bellagio, Las Vegas
    1-day session only | Bundle with PFP Conference
    PFP/PFS members save an additional $100 on the AICPA member price.

     

    Contact Us

     

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

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