Current PFP News 


Forefield Alert: New Real Estate Sector Put Equity REITS in the Spotlight

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AICPA

PFP News

 

Member-Exclusive News, Resources and Events

 

September 28, 2016

In This Issue

Updated for 2016: The CPA's Guide to Financial and Estate Planning, Volume 4

Forefield Alert: New Real Estate Sector Puts Equity REITs in the Spotlight

Audio Clip: Former Spouse for Pension Benefits Claim Rejected

New in the Learning Library: Proposed Valuation Discounts: What CPAs Need to Know

Article: A Passion for Education Proves Perfect Formula for Ross Riskin, CPA/PFS

Upcoming Webcast: Post-Mortem Planning

CPA/PFS Corner: Where are You on the Path to the CPA/PFS?

Other News: Forefield Spotlight: Financial Questions Checklist; Audio Clips: Withdrawal of Excess Contributions and GST Tax Exemption; New for 2016: Tax Return Due Date Changes Resource Page; Bob Veres Media Reviews: An IRA Beneficiary Fiasco; TODAY! Free Webcast with CPE: Estate Planning for the 99%

 

 

PFP News & Resources

 

Updated for 2016: The CPA's Guide to Financial and Estate Planning, Volume 4

 

This comprehensive publication provides guidance to CPAs advising clients in estate, tax, retirement, investment, and risk management matters, as well as reflects the planning implications of major tax law changes, including the 2015 PATH Act, estate basis consistency reporting rules, American Taxpayer Relief Act of 2012, net investment income tax, and more. Volume 4 covers asset protection issues and opportunities, portability, planning for the additional Medicare tax and net investment income tax, the Affordable Care Act, effects of the Supreme Court's decision on same-sex marriage and the Defense of Marriage Act, passive activity losses, planning for estates under $5 million, the Statement on Standards in PFP Services, and the Achieving a Better Life Experience (ABLE) Act.

New Enhancements for 2016:

 

Major law changes made by the 2015 PATH Act

New estate basis consistency reporting rules

Updates on the Affordable Care Act and the ABLE Act

 

Click here to access other volumes of the CPA’s Guide to Financial and Estate Planning updated this year

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Forefield Alert: New Real Estate Sector Puts Equity REITs in the Spotlight

 

S&P Dow Jones Indices and MSCI recently moved publicly traded equity real estate investment trusts (REITs) and other listed real estate companies from the Financial sector into a new, separate Real Estate sector effective September 1, 2016. This Forefield client alert explains this change and implications for investors.

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Audio Clip: Former Spouse for Pension Benefits Claim Rejected

 

In Richardson-Roy v. Johnson, (3rd Cir. 8/6/2016), the Third Circuit Court of Appeals held that the claim of a former spouse to share in the pension plan of her deceased husband was barred by a one-year statute of limitations reports Bob Keebler, CPA/PFS, in this audio clip.  The text of the ruling can be found here.  This audio clip is courtesy of Leimberg Information Services, Inc.

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New in the Learning Library: Proposed Valuation Discounts: What CPAs Need to Know

 

In this webcast, Bob Keebler, CPA/PFS, John Porter and Stacy Eastland, JD, report on the recent proposal of 2704 Valuation Regulations by the IRS.  In this webcast learn about:

 

Why the Proposed Regulations are Important

Lapsing Right to Liquidate

Restrictions on Liquidation

Minority Discounts

And much more

 

For more information on these proposed regulations, be sure to access the resource page filled with podcasts and articles on the subject.  Recently, Republican lawmakers introduced a bill which would kill this rule.  Stay tuned to future additions of the AICPA PFP News where we will keep you updated on the latest developments. 

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Article: A Passion for Education Proves Perfect Formula for Ross Riskin, CPA/PFS

 

Ross Riskin, CPA/PFS, CCPS, is definitely not your typical CPA.  He has a unique passion for helping college students and their families and plays a direct role in CPA education. Read about his thoughtful take on incorporating the AICPA’s Essentials of Financial Planning curriculum into the classroom and more about his personal approach to financial education in this article

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Upcoming Webcast: Post-Mortem Planning

 

In this webcast, Steve Siegel, CPA/PFS, will tie in the latest PFP Section benefit, The CPA’s Guide to Financial & Estate Planning, with essential estate planning considerations to discuss with your clients now. Hear a practical review of the special tax rules, return requirements, issues and options when advising clients after a family member has died. You will learn about the issues to consider when filing the decedent's final Form 1040 income tax return and will guide clients through a range of essential post-death elections and decisions. Discounted CPE for PFP members or access the recorded webcast in the learning library shortly after the event.

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CPA/PFS Corner

 

 

Evaluate what stage you are in and add the CPA/PFS credential to your professional development plan. Email the PFP Team at financialplanning@aicpa.org if you have any questions.

 

1.

Learn - cover the basics of tax, estate, retirement, investments and insurance/risk management.

2.

Test - use the convenient exam review options available and take the exam one of the semi-annual exam periods.

3.

Get Credentialed - obtain the necessary work experience and complete the convenient online PFS application.

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Other News

 

 

Forefield Spotlight: Financial Questions Checklist
Discover one of the thousands of Forefield Advisor resources available with your PFP section membership, the Financial Questions checklist.  This simple, 2-page list is comprehensive and contains thought-provoking bullet points to help you uncover what financial topics your client is concerned about.  Use this as an introductory tool to spark an in-depth conversation with clients, and then help them make informed financial decisions.

Audio Clips: Withdrawal of Excess Contributions and GST Tax Exemption
Bob Keebler, CPA/PFS, along with Leimberg Information Services, Inc., has worked to provide up-to-date information on the following topics:

 

Wu v. U.S. - Withdrawal of Excess Contributions Not Timely (text

Trust Modification Will Not Jeopardize GST Tax Exemption (text)

 


New for 2016: Tax Return Due Date Changes Resource Page

Due dates for many tax returns are changing. These new tax deadlines will hopefully improve return workflow and workload compression, but require tax practitioners to educate their clients and implement new practice management processes. This page provides the guidance and tools to help you comply with tax return due dates and maximize workflow productivity including a tax deadlines summary chart, a client letter on tax return due date changes, a tax return due date management webcast, a Washington tax brief webcast discussing new rules and concerns and much more.  For more information about advocacy work on this topic, see AICPA Due Dates Legislation Advocacy Efforts.

Bob Veres Media Reviews: An IRA Beneficiary Fiasco
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 September’s Financial Planning magazine, including those rated with high relevance ranging from “Attracting Millennial Advisers” by Kelli Cruz to “An IRA Beneficiary Fiasco” by Ed Slott.
Access other editions of media reviews, Inside Information and e-columns.

TODAY!Free Webcast with CPE: Estate Planning for the 99%
In the first event of this webcast series, Steve Siegel, CPA/PFS, will tie in the latest CPA’s Guide to Financial & Estate Planning with essential estate planning considerations to discuss with your clients now. CPA financial planners have a challenge in that 99% of clients we work with fall below the threshold for the federal gift and estate tax exclusion.  This event, taking place September 28th, offers free CPE to PFP/PFS section members so be sure to register today!  For PFP/PFS section members unable to attend, you can watch the recording which is added to our learning library just a few days after each event.

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Events

 

PFP Section-sponsored webcast recordings and materials are available as part of your PFP/PFS membership and are posted to aicpa.org/pfp/library if you would like to listen again or if you are not able to attend the live event.

Conference recordings are available at no charge to conference attendees or for purchase to those who weren’t able to attend. Recordings from past conferences are available at aicpaconference
materials.com
.

Upcoming PFP Section-Hosted Webcasts:

Watch PFP News for registration links for upcoming events!


TODAY! Estate Planning for the 99%
Sept. 28 from 1-2:45pm ET
Free with CPE.

Post-Mortem Planning
Oct. 19 from 1-2:45pm ET
Discounted CPE.

Tax Planning with Life Insurance
Nov. 7 from 1-2:45pm ET
Discounted CPE.

Proactive Year-End Planning After the Election

Nov. 22 from 1-2:45pm ET
Discounted CPE

Divorce Taxation
December 7 from 1-2:45pm ET
Discounted CPE.


Upcoming Conferences:

Sophisticated Tax Planning for Your Wealthy Clients
November 10-11, 2016
Discounted CPE.

National Tax Conference
November 14-15, 2016 Discounted CPE.

Personal Financial Planning Summit
January 22-25, 2017
Discounted CPE.

Advanced PFP Conference (ENGAGE)
June 12-14, 2017
Discounted CPE.

 

Contact Us

 

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

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