AICPA Personal Financial Planning (PFP)

Are you looking for ways to deepen relationships with next generation clients and staff? In this episode of the PFP Section podcast, AICPA PFP Standing Ovation Award recipient Akeiva Ellis, CPA/PFS, shares how she keeps her younger clients feeling cared for and important. She also shares tips on what to think about to attract talented next gen advisors to your firm. Akeiva answers the following questions: What is the definition of next gen? What are some ways you have engaged these clients in your work? How do you run family meetings to keep all generations connected? How can firms of all sizes approach deepening these relationships? What can firms do to attract young talent? What's the top takeaway you'd like our audience to leave with today? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Use the PFP Section member benefit, Broadridge Advisor, to communicate concepts to your clients. If you are a 40 and under CPA/PFS and you haven't been recognized with the PFP Standing Ovation Award, make sure to get your nomination in by April 28th. Apply for the P. Thomas Austin Personal Financial Planning Division Scholarship that covers the registration fee for an emerging CPA to attend the 2023 Advanced Estate Planning Conference at AICPA ENGAGE. This 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. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

When planning for the surviving spouse with your client's attorney, it's important to address issues while both spouses are alive to arrive at the best outcomes. In part three of this PFP Section podcast series, Paul Hood, JD, LLM, walks you through what may occur after the first spouse dies that should be built into the estate plan. He discusses the following issues to consider: Cashflow Backup fiduciaries Managing incapacity Blended families Estate tax apportionment Income tax basis possibilities Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Listen to part 1 and part 2 of this series. Use the Guide to Financial & Estate Planning as a reference library to research issues related to financial and estate planning. This 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. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Susan Tillery, CPA/PFS, began her career journey in tax and eventually landed with her own fee for service financial planning firm that she owns with her husband, Tom. Their firm is designed to provide education and planning to their clients, and they team with other advisers to manage investments and do the tax compliance work. They also provide education and other resources to CPAs who want to add financial planning to their offerings. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Susan. Susan answers the following questions: How did you land where you are now and what services do you offer clients? How did you divide responsibilities between you and your partner? What led you to teach other CPAs how to implement your business model and how do you do this? What has been most important to you about the AICPA PFP community? What's your best advice for those adding financial planning to their services? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Listen to other episodes in this series. Join your AICPA PFP community at the next Advanced PFP Conference @ ENGAGE from June 5th through 8th, 2023. Register for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. You can attend in person or online. Register for the next PFS Live workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. This 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. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

President Biden's fiscal year 2024 budget proposal includes many familiar changes that we have seen in past proposals. It's difficult to predict whether these will come to fruition though it will be important to get ahead on having conversations with your higher wealth clients so that there are no unexpected surprises. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, covers the major tax provisions that will impact your individual clients if enacted, including: An increase in the net investment income tax rate and scope for those with income over ~$400k An increase in the top marginal rate to 39.6% for those with income over ~$400k Taxing long term capital gains and qualified dividends at ordinary rates when taxable income is over $1M Limits on retirement contributions for high income taxpayers with large IRA balances Taxing unrealized capital gains at death and at time of gifting when above the exemption amount Elimination of the back door Roth IRA And much more! Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit Libsyn (PFP) to access show notes with direct links. Read more about the Biden proposal in this article. Find Bob Keebler's latest decision charts in the Proactive Planning Toolkit. Read in depth details of the current law in the Guide to Financial & Estate Planning. This 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. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Note that this episode was recorded prior to the effective date of SECURE 2.0 which allows for 529 funds to be rolled into Roth IRAs in certain circumstances. Trust terminations can become complicated when beneficiaries decide to go their separate ways and break up the trust. The IRS views this transaction as a sale of the interest in the trust for cash or assets and a gain is triggered. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Ed Morrow, JD, LL.M. They share: When IRC Section 1001(e) kicks in How the interest is calculated for the life and other beneficiaries When the basis is determined to be zero for the income beneficiary Many examples to make the scenarios and implications clear What tax preparers need to make sure they know Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Find Bob Keebler's latest decision charts in the Proactive Planning Toolkit. Learn more about trust planning in the Adviser's Guide to Financial & Estate Planning. This 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. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Guest: Kelley Long, CPA/PFS The flexibility and advantages of Roth IRAs makes them highly desirable for planning that goes beyond retirement funding. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, discusses situations where it may make sense to use a Roth IRA, including: Getting around the psychological barrier for clients who don't want their money tied up until age 59 ½ Serving as an alternate emerging savings fund Funding first time home purchases Setting up a supplemental education savings account Note that this episode was recorded prior to the effective date of SECURE 2.0 which allows for 529 funds to be rolled into Roth IRAs in certain circumstances. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Learn about the option to roll excess 529 plan funds into Roth IRA accounts in this podcast with Ross Riskin, CPA/PFS This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

If you're currently working in a hybrid environment or running a business that is managing this structure, tune in to hear best practices for keeping employees engaged in this episode of the PFP Section podcast. Kelley Long, CPA/PFS, discusses 5 tips, including: ·How to keep the office and remote workers connected and invigorated. ·How to help employees avoid burnout. ·What to consider with the home office reimbursement policy. ·Acknowledging special occasions so as not to create a cultural divide. ·Expressing appreciation goes a long way. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. ·Get other ideas for your business in the series, A Business Owner's Journey to Time, Money, and Mind Freedom. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

The new spousal IRA election in SECURE 2.0 is both novel and complex. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, walks you through the options that need to be considered when a spouse who is 7+ years younger dies first. Bob shares: The spousal IRA options in SECURE 1.0 and SECURE 2.0 How to know whether you should do a traditional rollover or make the inherited spousal IRA election Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Find other SECURE 2.0 resources in the Proactive Planning Toolkit. You'll also find updated 2023 decision planning charts here. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Dirk Edwards, CPA/PFS, designed his financial planning practice to make the complex planning work the centerpiece for his clients. He brings in experts in the areas such as estate, risk management, and investments to implement the planning so that his family clients have the best specialists involved. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Dirk to share ideas that may resonate with others in the community. Lyle poses the following questions to Dirk: How did you get your PFP practice off the ground and evolve it to where it is now? Since you don't manage investments or give investment advice, how do you connect the dots to provide holistic advice? What billing method has worked well with your practice model? How did you identify your partner to bring in as your successor? What's your best of advice for someone starting a PFP practice or a tax professional adding PFP services to their offering? Note that this podcast was recorded in August 2022. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Listen to other episodes in this series. Join your AICPA PFP community at the next Advanced PFP Conference @ ENGAGE from June 5 through 8, 2023. Register for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3 and 4, 2023. Register for the next PFS Live workshop in advance of PFP ENGAGE on June 3 and 4, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Family office clients have complex planning issues. It's helpful to collaborate with a team of advisors and not feel like you must have all the answers. It is often valuable to begin the engagement by having conversations about what matters most to the family and for their legacy. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck have a conversation with family office expert, Steven Bowles, to discuss how best to support these families in their philanthropic desires. They discuss: · How to make sure there aren't gaps in the planning strategies being considered · Approaches to get clear on how the family views the world and what legacy means to them · Questions to ask to align the family goals with the best philanthropic strategies Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. · Find relevant charitable planning resources in the Charitable Giving Toolkit. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

SECURE 2.0 allows 529 plans to be rolled into Roth IRAs beginning in January 2024. To learn more about the specifics of what is allowed, Bob Keebler, CPA/PFS, interviews education expert, Ross Riskin, CPA/PFS, in this episode of the PFP Section podcast. Ross responds to the following questions. What are the primary tax benefits of 529 plans? What are the most important things to know about the new provision in SECURE 2.0? Where do we need to seek further clarification and what potential traps do we need to watch out for when rolling 529 plans into Roth IRAs? What should CPAs recommend to their clients now? RELATED RESOURCES Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Find decision charts updated for 2023 in the Proactive Planning Toolkit. Use the Guide to Education Planning to support your clients. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. Feedback and comments welcomed at [email protected]

Guest: Mackey McNeill, CPA/PFS In part 4 of this PFP Section podcast series, Mackey McNeill, CPA/PFS, discusses how to keep the annual plan alive through effective measuring. You can use this in your own business and for your relevant clients. Mackey describes the importance of preparing easy and effective reports with visual metrics that anyone can understand. This allows everyone on the team to quickly see where the business is today compared to the goals. The more frequently business owners and their teams keep their attention on the goals and where they are, the more likely they are to make their vision a reality. Hear more about how Mackey creates high level metrics to stay on track with goals in this episode. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. To dive deeper on this topic, register for Mackey's webcast, The Prosperity Playbook: A Business Owner's Journey to Time, Mind, and Money Freedom. Listen to Part 1, Part 2, and Part 3 of this series. Read the electronic version of The Prosperity Playbook. Download the Grow Four Ways and Cascading Metrics Process tools. Access the Take Back Your Time mini course. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

In part 3 of this PFP Section podcast series, Mackey McNeill, CPA/PFS, shows you how to move your big ideas into an actionable framework for the coming year. You can use this in your own business and for your relevant clients. Mackey describes how to use two resources, Grow Four Ways, and Cascading Metrics Process, that you can find in the show notes. She walks you through: How she took a client from dwindling cashflow and stagnant sales to routine profitability and sales growth by using a clear structure, process, and accountability What the four ways are to increase sales and the bottom line How to develop an annual plan using cascading metrics tools Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Download the Grow Four Ways and Cascading Metrics Process tools. To dive deeper on this topic, register for Mackey's webcast on February 7th, The Prosperity Playbook: A Business Owner's Journey to Time, Mind, and Money Freedom. Listen to Part 1 and Part 2 of this series. Read the electronic version of The Prosperity Playbook. Access the Take Back Your Time mini course. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Many CPA financial planners give credit for the career they have created to the relationships they have built within their AICPA PFP community. To spread these stories and pearls of wisdom more broadly, we created the Deeper CPA Financial Planner Connections series in November 2021. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, and Andrea Millar, CPA/PFS, discuss the 7 recurring themes and lessons learned that have played through the many stories shared and what they mean to them, including: Know yourself. Be a constant learner and do what is right for your client. You are the coach to your clients. Get involved. Don't let others define success for you. CPAs are incredibly well positioned to provide these services to their clients. Be courageous. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Listen to other episodes in this series. Join your AICPA PFP community at the next Advanced PFP Conference @ ENGAGE from June 5th through 8th, 2023. Register for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. Register for the next PFS Live workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

A lot of information is flying around on the importance of SECURE 2.0 and what this means for retirement planning. Get the bottom line of what you need to think about for your clients in this episode of the PFP Section podcast. Bob Keebler, CPA/PFS, interviews retirement expert, Ed Slott, CPA. Ed shares: His take on the bill The issue of needing to take RMDs in years 1-9 when inheriting an IRA from someone who had already begun RMDs was not fixed His concern with what the replacement of the 50% penalty on missed RMDs may mean Nuances with IRS rule 72(t) The importance of thinking about the big picture when deciding whether deferral makes sense And more Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Save the date for an in-depth webcast with Bob Keebler on February 1st and February 6th from 1:00 to 2:30 pm EST, SECURE 2.0: New retirement planning opportunities for your clients. Access the Proactive Planning Toolkit for decision charts to use with your clients and more. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

As CPAs and financial planners, we are trained in the technical skills to help clients plan for transitions such as a business sale, retirement, divorce, or loss of a spouse. What we may not be as prepared for is the human experience that takes place over the years leading up to, during, and settling into a new way of life. The human side is messy and it's more challenging to see how it influences choices and decisions. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews life transition expert, Susan Bradley. They discuss: What is the skillset needed for the human side? How does the approach shift in a voluntary versus forced transition? Susan's thoughts on Lyle's transition predicament Why it's important to understand your own personal transition style Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Focusing on what you need to know to serve your clients today, Bob Keebler CPA/PFS reviews the changes and their nuances as a result of the passage of SECURE 2.0. Some of the areas highlighted in this episode of the Personal Financial Planning (PFP) podcast include: Changes in Required Beginning Dates (RBD) Upcoming changes to IRA and qualified plan catch-up contribution amounts Allowance for matching contributions for student loan payments Rules for newly allowed rollovers from 529 plans to Roth accounts How life annuities have been impacted Changes to exceptions for early withdrawals from IRAs and qualified plans. Reduction of excise tax and addition of a correction windows for missed Required Minimum Distributions (RMD.) Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Guide to Financial and Estate Planning, Volume 2 SECURE 2.0 and retirement provisions SECURE 2.0 Section 605 and syndicated conservation easements SECURE 2.0 Section 337 and Special Needs Trusts This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Haesun Moon, Ph.D., is a communication scientist who has a mission to change the world through better conversations. She has created a simple coaching model in which people participate to imagineer and perform their preferred change. Lyle Benson, CPA/PFS, interviews Haesun to understand how her approach can lead to effective financial planning conversations. They discuss: Why guiding clients towards their preferred future may be more powerful than creating goals Haesun's take on empathy and how to keep conversations real and purposeful How to use the simple coaching model and Dialogic Quadrant tool How to use coaching to co-construct meaning with clients Haesun's take on the use of questions in coaching What can attendees expect to come away with at Haesun's session at PFP Summit in January? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

PFP Executive Committee (EC) chair, Brooke Salvini, CPA/PFS, and PFS Credential Committee (CC) chair, Oscar Vives, kick off the new year in this episode of the PFP Section podcast. They answer the following questions: What are their 2023 resolutions that may inspire you? What are the objectives of the PFP EC and PFS CC and how do they support members in financial planning? What were the committee focuses in 2022 and what is their vision going into 2023? How can you get connected with the PFP community and the resources to help you help your clients? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023. Listen to the Deeper CPA financial planner connections series to hear from other members in the PFP community. Find the resources like Broadridge Advisor, Bob Veres Inside Information, technical and practice guides, and more. Learn about the multiple pathways to the PFS credential. Save the date for the next PFS Live workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. If you are interested in running a PFS Live for your firm or group, send an email to [email protected]. Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Brooke Salvini, CPA/PFS, started out in the CPA profession in the traditional way and eventually made her way back to an early seed that planted her desire for personal finance. In this episode of the PFP Section podcast, Lyle Benson connects with Brooke to share her story and how she made decisions along the way. Brooke answers the following questions: How did you decide to start your hourly advice financial planning firm? What led you to add investment management and how did you figure out how to do it? What did you do to develop your people skills? How have you woven your passions in other areas into your firm? How have you used technology to make your work more enjoyable and your service more valuable? What are you predicting for the future of financial planning? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Listen to other episodes in this series. Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023. Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Rising interest rates may cause bond values to go down and it may be the time to make changes to bond portfolios. Bob Keebler CPA/PFS and Mark Fichtenbaum CPA review: Options for a bond that has a coupon that is less than market. How to avoid the wash sale rules when selling a bond. Tax implications of selling a bond at a loss. The three types of bonds and how the income from each is taxed for federal, state, and local levels. Definition of a triple exempt bond. Definition of original issue discount and original issue premium and how this impacts taxation of bond income. Three action items when there is a large bond portfolio. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Guide to Financial and Estate Planning, Volume 3 Harvesting losses without triggering a wash sale Taxes and investment planning This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Mackey McNeil, CPA, PFS, shares how she took back her time in this episode of the PFP Section podcast. Guest: Mackey McNeill, CPA/PFS Do you long for more flexibility and free time in your schedule? In part 2 of this PFP Section podcast series, Mackey McNeill, CPA/PFS, shares her process for taking back her time. Mackey fills you in on how she went from having her hands in everything to designing her business so that it could run without her. She takes you through the 5-step step process that you can use to take back your time. Guide: choose the feeling most important to you and ask yourself if what you are doing will give you that feeling. Intention: create an aspirational intention statement that is true to you. Roles: align the roles in your business so that you can do what makes you most fulfilled. Structure: create the foundation that will allow you to fulfill your intention and roles. Test: develop a measure to see if you succeeded in your endeavor. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. To dive deeper on this topic, register for Mackey's webcast on February 7th, The Prosperity Playbook: A Business Owner's Journey to Time, Mind, and Money Freedom. Listen to part 1 of this series. Read the electronic version of The Prosperity Playbook. Pages 75-85 include more on the 5-step process. Access the Take Back Your Time mini course. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

For the last 20 years, Mackey McNeill, CPA/PFS, has been working on building and delivering Prosper for Business. This life changing system has facilitated her clients to achieve the 3 freedoms of money. The methodology is relevant whether you are a CPA financial planner with your own practice or you are advising clients on their businesses. In part 1 of this 4-part series, Mackey shares: How she went from having the largest CPA firm in her city to intentionally pulling it apart and redesigning her business What she learned about humans and change that helped her make a larger impact in the lives of her clients Why CPAs have an advantage over others when it comes to coaching The five rungs of the Prosperity Ladder The upside of open book management Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. To dive deeper on this topic, save February 7th as the date of Mackey's webcast, The Prosperity Playbook: A Business Owner's Journey to Time, Mind, and Money Freedom (registration coming soon!). Read the electronic version of The Prosperity Playbook. Review the Prosperity Ladder Access the Take Back Your Time mini course. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Holiday season is a great time of year to discuss philanthropic intent with your clients. This brings together the year-end planning opportunity to maximize tax deductions and the time of year to have purposeful conversations with family on causes that matter. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck share ideas to consider with your clients as the end of the year approaches, including: A smarter way to give than writing checks Using a Donor Advised Fund (DAF) to receive the charitable deduction while also giving breathing room to make decisions on where to give Using charitable donation strategies to offset taxable income Connecting the private foundation to a DAF to make the 5% annual requirement more effective The philanthropic approach to minimizing tax on Roth conversions in a down market Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Chapter 5 on charitable giving in the Guide to Financial & Estate Planning Analysis of a tax return for financial planning opportunities checklist (includes a section on charitable giving) When a donor advised fund is right for your client An example of a scholarship fund How to direct a QCD that is an alternative to the DAF This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Clients have three years left to use the enhanced unified credit before it gets cut in half. Putting holistic techniques in place that consider tax, financial planning, and asset protection sooner rather than later will be important. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Marty Shenkman, CPA/PFS, JD, and Jonathan Blattmachr, JD, to get their thoughts on using SLATs and other strategies. They answer the following questions: How do SLATs work? Why are SLATs and other techniques effective for clients who won't be subject to the estate tax even when the unified credit is cut in half? Why is it important to mix and match techniques like SLATs, DAPTs, hybrid DAPTs, and SPATs to get the best results for your clients? What are the most critical considerations for making sure that your clients get the most access to these trust assets? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access Steve Oshins estate and trust decision charts. Access Bob Keebler's decision charts in the Proactive Planning Toolkit. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Mark Astrinos, CPA/PFS, has made some bold and scary moves in his career to land where he is now with his own financial planning firm. In this episode of the PFP Section podcast, Lyle Benson facilitates Mark to share his story and the wisdom he has gained. Mark discusses: Why and how he made moves from audit to tax to financial planning to business owner How he got clear on his vision for his life and work and made it happen What he did to move beyond the fear of putting everything on the line when he started his firm from scratch Why he decided to purchase another firm The value he brings to the table that differentiates him from other financial planners His thoughts on the AICPA PFP community and the future of financial planning Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit https://pfplanning.libsyn.com/pfp to access show notes with direct links. Listen to other episodes in this series. Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023. Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Interest from US donors to be philanthropic to causes overseas is picking up steam. This is often happening without the knowledge that there are ways to do this in a manner that incorporates due diligence and tax benefits. In this episode of the PFP Section podcast, Jonathan Gassman, CPA/PFS, Rick Peck (NH Charitable Foundation), and Brooks Reid (CAF America) walk CPA advisors through what they need to be considering with their relevant clients. They answer the following questions: What are the 3 main considerations in cross border giving? How do you receive a tax deduction when donating outside the US? What due diligence needs to be done to make sure the charity is on the up and up? Are there resources to make this process more seamless for CPA advisors and their clients? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Learn more about CAF America and giving overseas. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

As we look to the results of the midterm election, it appears that we will have a divided government in 2023-2024 and we will need to carefully consider the impact on our clients. Year-end planning could include tax loss harvesting for crypto, new energy provisions and investments, Roth conversions and filling up the 22% and 24% tax bracket. We will also need to give careful consideration to the preparation for the sunset of the Tax Cuts and Jobs Act of 2017 regarding the federal gift and estate tax exclusion. As you approach this with your clients, conversations and plans will need to be developed in preparation for the changes happening in 2026. In this PFP Section podcast, Bob Keebler, CPA/PFS also addresses the following: What is going to happen to SECURE 2.0? Will the EARN Act pass? Will there be an Extenders package? Will there be an update to the 10% penalty connected to a corrective distribution? Will there be a change in the required beginning date (RBD)? Will there be changes to Substantially Equal Periodic Payment (SEPP) rules? Will there be changes to the grantor trust regulations? Will the Corporate Transparency Act be passed? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Learn more about this and other year-end planning strategies at Bob Keebler's webcast on November 17th and 28th (free with CPE for PFP Section members). Find Bob's decision charts in the Proactive Planning Toolkit, exclusive to AICPA PFP Section members. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

QTIP trusts often allow the testator to have it all by having peace of mind that their surviving spouse will be cared for during their lifetime at the same time as passing assets to heirs of their choosing after the surviving spouse's death. In this episode of the PFP Section podcast, Paul Hood, JD, LLM, dives into planning for the surviving spouse. He discusses: The pros and cons of using a QTIP trust The difference between a gift tax and estate tax QTIP election Conflicts of interest that can arise between income and principal beneficiaries Alternatives to using QTIP trusts Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access more on planning for surviving spouses in Guide to Financial & Estate Planning, updated in 2022. Listen to part one in Paul's surviving spouse planning series. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

2022 has been a volatile year in the stock market. Year-end planning will undoubtedly include tax-loss harvesting to offset capital gains for many clients. As you approach this with your clients, it's important to keep the wash sale rules in mind. In this PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Mark Fichtenbaum, CPA. Mark answers the following questions. What is the intent of the wash sale rules and what are some simple ways around this? How can you structure a transaction to keep the same position and realize a loss? How do these rules apply to cryptocurrency? What do planners need to watch out for with mutual fund capital gain dividends? What do planners need to think about related to clients who have passed in the last 15-20 months? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Learn more about this and other year-end planning strategies at Bob Keebler's webcast on November 17th and 28th (free with CPE for PFP Section members). Find Bob's decision charts in the Proactive Planning Toolkit, exclusive to AICPA PFP Section members. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app

Mackey McNeill, CPA/PFS, has evolved from a business owner providing traditional accounting services to owning three companies to serve her business owner, business, and personal financial planning clients. She has also gone from running the businesses to handing that duty off and working part time to fulfill other areas of her life. In this episode of the PFP Section podcast, Lyle Benson facilitates Mackey to share her story and what she has learned along the way. Mackey talks about: How identifying her vision and her why for what she does has guided her decision making along the way What she does to holistically integrate all the needs for her clients with prosperity and intention as the common thread How she was able to prove that she didn't need to run the business day to day The importance of living life from the inside out Her prediction for the future of financial planning Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Listen to other episodes in this series. Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023. Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Andrew Fisher, CPA, CFA, has had a long-held passion for international travel, culture, and business. He has made it his career to weave this together with his interest in finance. For twenty years he has been serving his private wealth clients in the niche of cross-border planning. He currently focuses on the community of foreign-born citizens who have moved to the US. In this episode of the PFP Section podcast, Andrew shares highlights of the six financial challenges to be aware of as you serve these clients. Optimal tax planning Saving strategies Real estate US immigration milestones Planning for cross border retirement Global estate planning Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Join Andrew at the upcoming AICPA Personal Financial Planning Summit as he leads a panel discussion on the benefits of having a niche. Register by October 31st to receive the lowest pricing. PFP/PFS members receive an additional discount. Read Andrew's insights on cross-border planning tax complexities. Listen to a primer on international and cross border planning. Get ideas for how to support clients with international and cross border questions. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

401k plans offer sophisticated resources that your clients may not know about. These tools can supplement the advice that you offer so that your clients are best prepared for their future retirement. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, discusses who can benefit from the use of these tools and how they can help you in your practice. Kelley covers the ins and outs of: Auto escalators Investment education and guidance built into 401k platforms General financial wellness benefits Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Guide to practical retirement planning This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

International and cross border financial implications are extremely complex. This is an area that likely requires speaking with other knowledgeable advisors before giving your clients recommendations and advice. In this episode of the PFP Section podcast, Global Financial Planning Institute Founder, Ashley Murphy, answers the following questions: What are the operational challenges facing advisors working with these types of clients? How does international planning differ from cross border planning? What financial issues are involved in each phase of the expat move? Where can financial planners go to get the help they need with these client questions? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Listen to the first episode in this series. Increase your knowledge in U.S. international tax with the AICPA certificate. Visit the GFP Institute to find referral sources or to pursue additional education. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Experiencing hurricanes, fires, and other disasters is overwhelming. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews disaster expert Jerry Schreiber, CPA, to discuss how CPAs can best support their clients through these events. Jerry answers the following questions: What defines a casualty or disaster loss? What are the primary authorities to figure out valuations, losses, etc.? How has the insurance market changed over the years with claims, premiums, and deductibles? How can CPAs best support clients facing a current or imminent disaster? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Aftermath of a natural disaster checklist Dealing with catastrophic property loss Disasters and Financial Planning: A Guide for Preparedness and Recovery If you are personally affected by disasters of any kind, please consider applying for assistance through the AICPA Benevolent Fund. If you'd like to help fellow members in need, you can make a contribution here. The IRS has provided tax relief, including extended filing deadlines and dyed diesel penalty relief for taxpayers affected by Hurricane Ian; see the IRS's Help for Victims of Hurricane Ian webpage for the latest updates. Additional information can be found on the IRS's Tax Relief in Disaster Situations page and on the U.S. Small Business Administration's Disaster Loan Assistance. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Hurricanes Ian and Fiona and Typhoon Merbok are the latest natural disasters in the US to leave many people in a state of emergency. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews IRA expert Sarah Brenner, JD, to discuss the implications of taking withdrawals from IRAs during times of hardship. They share: Is there penalty and tax relief for those who face financial hardship in natural disasters? What help can IRA owners expect from Congress and the IRS? How can people use their IRAs to help hurricane victims? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Aftermath of a natural disaster checklist Dealing with catastrophic property loss Disasters and Financial Planning: A Guide for Preparedness and Recovery If you are personally affected by disasters of any kind, please consider applying for assistance through the AICPA Benevolent Fund. If you'd like to help fellow members in need, you can make a contribution here. The IRS has provided tax relief, including extended filing deadlines and dyed diesel penalty relief for taxpayers affected by Hurricane Ian; see the IRS's Help for Victims of Hurricane Ian webpage for the latest updates. Additional information can be found on the IRS's Tax Relief in Disaster Situations page and on the U.S. Small Business Administration's Disaster Loan Assistance. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

David Oransky, CPA/PFS, took the leap to start his own financial planning firm from scratch at the age of 26. He has come a long way and shares his story and pearls of wisdom in this episode of the PFP Section podcast guided by Lyle Benson, CPA/PFS. David discusses: How he went from being an auditor in a big 4 firm to figuring out financial planning was the right path for him. What he did to evolve his firm intentionally over time from the clients he works with to how he bills for his services. Why he grounds his financial planning with life planning and how he developed these skills. How he merges his loves of the big picture with the nitty gritty and solving puzzles, all while applying this to clients to make it meaningful. What he found most surprising about the AICPA PFP community. His thoughts on Bitcoin, the future of the CPA financial planning profession, and what those starting out should focus on to be successful. Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Listen to other episodes in this series. Join your AICPA PFP community at the next PFP Summit in Austin, TX on January 30th through February 1st, 2023. Save the date for the next Building Your PFP Business workshop in advance of PFP ENGAGE on June 3rd and 4th, 2023. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Spouses receive the best deal when it comes to being an eligible designated beneficiary. There are three options for what can be done when a spouse inherits an IRA from their deceased spouse. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Natalie Choate, Esq., to discuss the choices so that you can implement the most effective strategy for your clients. They discuss: The three options and which is the best route The better deal that spouses receive as eligible designated beneficiaries When it makes sense to deviate from the best route Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Make use materials in the Proactive Planning Toolkit. Don't miss Bob's free CPE year end planning webcast, included with PFP Section membership. Read Natalie's free download of Estate Planning for Retirement Benefits Under SECURE and Proposed Treasury Regulations. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Many professionals haven't gone through a period of high inflation like we're experiencing now. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Wade Pfau, PhD, CFA, to get you up to speed with what to be thinking about for your clients nearing and in retirement. Wade answers the following questions: Why is investing for retirement different from pre-retirement? How do risks change in retirement? What is the difference between investment risk and sequence of returns risk? What is the idea behind a "safe withdrawal rate"? Is the 4% rule a useful guideline for retirees? What is the impact of low interest rates and high market valuation levels on withdrawal rates? What is the impact of higher inflation on safe withdrawal rates? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access the Proactive Planning Toolkit. Don't miss Bob's year end planning webcast, included with PFP Section membership. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Business owners can accumulate significant wealth by making use of a combination of defined benefit and defined contribution plans. In this PFP Section podcast, Bob Keebler, CPA/PFS, interviews actuarial expert Neil Shore. Neil provides insight into the most effective way to help your business owner clients build their retirement nest egg. Neil responds to the following questions: What are the advantages for the business to sponsor a qualified retirement plan? What are the possibilities when you combine a defined contribution and defined benefit plan? Should the costs of these plans give a business owner pause? How do you choose a qualified service provider? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access the Proactive Planning Toolkit. Don't miss Bob's year end planning webcast, included with PFP Section membership. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Too often estate planning is done without careful consideration for the surviving spouse. This can lead to unintended consequences that may be very damaging. In this episode of the PFP Section podcast, Paul Hood, JD, LLM, provides pointers that will support CPA financial planners to work effectively with attorneys to protect the long-term best interest of the surviving spouse. Paul discusses: What to pay special attention to that is often missed in planning for the surviving spouse How to make sure the surviving spouse has a solid plan that provides peace of mind Using disclaimers and other tax and estate planning tips Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Article: The "Disclaimer" Trust: An Ideal Plan for the Medium Size Estate In-Depth Practice Guide: Guide to Financial & Estate Planning This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

As we have heard often in this podcast series, Lori Luck, CPA/PFS, didn't take a straight path to becoming a CPA financial planner. Though the knowledge and skills she learned along the way developed her into a CPA financial planner who has clients for life. In this episode of the PFP Section podcast guided by Lyle Benson, CPA/PFS, Lori shares her story and her wisdom by answering the following questions: Why do the business, finance, and tax skills of CPAs make them strong personal financial planners? How did your own life events play a role in becoming a financial planner? How do you offer the full scope of needs for your clients from tax compliance to investment management and all in between? What is AICPA doing to make sure students know about this career path and serve CPA financial planners throughout their career journey? What is the future of the CPA financial planning profession? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Learn about the pathways to the CPA Personal Financial Specialist Credential. Make use of the resources in the AICPA Personal Financial Planning Section. Check out the blueprint for the new CPA exam which includes personal financial planning. Submit feedback by September 30th. Save the dates for PFP Summit taking place in Austin, TX from January 30th through February 1st. Save the dates for the advanced PFP conference at AICPA ENGAGE at the Aria in Las Vegas from June 4th through 7th. To listen to more episodes in this series, visit here. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Clients who have large IRAs and are charitably inclined may benefit from making a qualified charitable distribution (QCD) or naming a charity as the beneficiary of their IRA. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, and Rick Peck, ChFC, discuss how to approach these opportunities with clients. They share: What QCDs are, how they work, and the tax benefits The clients who are best suited to use this strategy The options for setting up endowments or scholarship funds with a QCD Tips for making QCD and beneficiary designations seamless with charities Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Distribute this concept piece on charitable contributions from IRAs to your clients to get ahead on this year-end planning strategy. Access the Guide to Financial & Estate Planning for more planning tips and techniques. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

There may be subconscious internal barriers to wealth that are getting in the way of the goals and lifestyle that your clients say they want most. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, helps you identify when these money stories have taken control and how to help your clients see the truth of the matter so they can shift their behavior. Kelley shares: The three most common money mindsets for those who work with CPA financial planners What to say and do to help your clients see and go beyond their limiting beliefs When you may need to give the opposite of traditional advice Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Podcast: How emotions affect financial decisions Upcoming webcast: Women, divorce and money August 16, 2022 This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Where your clients choose to set up a trust can have significant tax and legal ramifications. There are nuances to consider whether you are involved in setting up new trusts for your clients or contemplating moving a trust to another state. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews attorney experts Jonathan Blattmachr and Richard Nenno to get their take on what CPAs and advisors need to be thinking about related to locating trusts. They answer the following questions? What are the laws of the various states? How does location of the trustee impact taxation? What factors are most important for creating a new trust or fixing an existing trust? How does location impact asset protection? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access Proactive Planning Toolkit for 2022 planning decision charts and the latest leg/reg issues. Use the Guide to Financial & Estate Planning as a reference library for these issues and more. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Howard Safer, CPA/PFS, fell into financial planning when he worked for business owners who valued Howard's ability to respond to personal finance questions and bring balance to their lives above all other services. He shares his story and nuggets of wisdom in this PFP Section podcast guided by Lyle Benson, CPA/PFS. Howard discusses: Why trust companies are a great platform for CPAs to provide these services How CPA tax professionals can provide value in the investment area Why tax expertise is second to none in being able to provide sound financial planning advice How he integrates lifestyle planning into his services and how this plays into the future of financial planning Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Access the financial planning checklist to identify opportunities from your client's tax return. Use the personal finance scorecard to have your clients rate themselves in the areas of financial planning. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Divorce is often extremely difficult for all parties involved. In this episode of the PFP Section podcast, Dave Stolz, CPA/PFS, shares how to support clients through this challenging time. He discusses: Lessons in divorce he learned by surveying his clients How to be with your clients during this emotional time Roles that CPAs can play and the conflicts to avoid Why this work is more fulfilling than you may imagine Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Register for Dave's webcast Women, Divorce, and Money on August 16th or 29th (free with CPE for PFP/PFS members). Read Dave's book Women, Divorce, and Money. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

With 30 million individuals living in the US who were born abroad and 8.7 million Americans living overseas in 180 countries, there's a good chance you will be approached with cross border and international questions. In this episode of the PFP Section podcast, Global Financial Planning (GFP) Institute founder Ashley Murphy answers the following questions: What prompted you to start the GFP Institute? What do advisors need to know about international and cross border planning? When do you need additional education or an expert on your team to address these issues? What is unique about US citizens? What are pitfalls to look out for in these engagements? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Increase your knowledge in U.S. international tax with the AICPA certificate. Visit the GFP Institute to find referral sources or to pursue additional education. This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Estate planning is a hot topic with potential law changes on the horizon and sunset back to the pre Tax Cut & Jobs Act amounts in 2026. In this episode of the PFP Section podcast, JG Gassman, CPA/PFS, talks with Frazer Rice, J.D., about effective questions to use to engage with clients to make sure their plan is in order. Some may sense for new clients only and others are good to use to check in with ongoing clients. The questions are: Do you have an estate plan? Who prepared the estate plan? Was your family involved in the estate plan development? When was the last time you reviewed your estate plan? Is the estate plan you built properly implemented and funded? Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. Article: 5 estate plan questions for advisors to ask clients Practice Guide: 2022 Adviser's Guide to Financial & Estate Planning Volume 1 Broadridge Advisor: Client friendly communication and education pieces (included with PFP membership) This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.

Even if you're not managing money for your clients, they likely look to you as their CPA to provide a sounding board and peace of mind when they see their hard-earned money in the hands of volatile markets. In this episode of the PFP Section podcast, Kelley Long, CPA/PFS, shares how she talks her clients off the ledge so that they don't make decisions they regret or that aren't in their long-term best interest. Kelley shares: Words of wisdom from Psychology of Money author Morgan Housel Why it's not effective to get too technical and share statistics from the past when clients are emotional How to get clients out of their lizard brain and back into their pre-frontal cortex Strategies to help clients stick to their long-term investment and financial plan Access resources related to this podcast: Note: If you're using a podcast app that does not hyperlink to the resources, visit http://pfplanning.libsyn.com/ to access show notes with direct links. How to have transformative conversations This 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. Also, 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, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.