AICPA Personal Financial Planning (PFP)

IRC Sections 1202 and 1045 are becoming more popular in recent years due to the tax favorability and private investing being more attractive overall. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews experts Caleb Powers and William Beckett to refresh us on what this is all about. They discuss: What are the criteria to qualify? How do you receive IRC Section 1202 treatme...

Sarah Bradley, CPA/PFS, took a leap from being an employee to being a first-time business owner practicing in tax compliance and personal financial planning. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, facilitates Sarah to share her story so that you can benefit from her experiences. They discuss: How Sarah made her way to her current role as partner in a CPA financial planni...

We often hear about the soft side of planning. As Lisa Featherngill, CPA/PFS, shares in this episode of the PFP Section podcast, this is really the hard side of planning. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Lisa to get her thoughts on how to have important conversations that lead to whether the quantitative side of planning will be successful or not. The st...

Investors have regained interest in investing in bonds in this higher interest rate environment. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Mark Fichtenbaum, JD, LLM, to guide CPA financial planners on how to give rise to interest like income while paying long term capital gain rates. They discuss: ·         How to create the economic equivalent of interest...

Lisa Featherngill, CPA/PFS, is on a mission to make sure the qualitative side of planning gets as much emphasis as the quantitative aspects. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, facilitates Lisa to share her wisdom so that you can benefit from her experiences. They discuss: How Lisa took the leap from providing tax and financial planning services in a CPA firm environm...

Women control 1/3rd of the total US household financial assets of 11 trillion dollars and they make up 47% of the workforce. And yet many don't seek the financial advice they need to gain peace of mind for their financial futures. In this episode of the PFP Section podcast, Debbie Taylor, CPA/PFS, shares her experience working with women clients and what she has learned about their needs to best s...

Effective for 2023, Massachusetts taxpayers are now subject to a new surcharge of 4% of income over one million dollars.  In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Jonathan Blattmachr JD to guide CPA financial planners on the new surcharge. Who is impacted by the new surcharge? How is the new surcharge calculated? Considerations of changing domicile to avo...

CA recently passed legislation disallowing ING trusts by treating them as grantor trusts for state purposes retroactive to January 1, 2023. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews expert Steve Oshins, JD, LLM, to guide CPA financial planners on how to rectify this situation. They discuss: What are ING trusts and why are they used in planning for clients? What d...

There are many professionals involved with clients and their tax, retirement, estate, insurance, and investment planning. In the case of life insurance, it's important to be on the lookout for tax traps before it's too late. In this episode of the PFP Section podcast, David Kushner, CPA, interviews expert Lee Slavutin, MD, CLU to inform us of the issues we need to know. They discuss: The 3 situati...

Tom Trainor is a CPA financial planner in Canada who has given a lot of volunteer time to the AICPA PFP Division. Tom talks about how collaborating with his peers in this community has kept his practice on the cutting edge. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, facilitates Tom to share his wisdom so that you can benefit from his experiences. They discuss: The different...

On July 14, 2023, the IRS released notice 2023-54 which provides for relief for RMDs in two circumstances. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, shares what you need to know, including: If your client mistakenly took a required minimum distribution in 2023 based on SECURE but they could have waited until 2024 based on SECURE 2.0, they have until September 30th to repatr...

If you believe it is a good idea to hold even a small amount of Bitcoin, the next step is to educate your clients and decide on the strategy that will have the best chance for success.  In this episode of the PFP Section podcast, David Oransky, CPA/PFS, shares how he approaches this with his clients. Mark Astrinos, CPA/PFS, poses the following questions to David: How to you respond to criticism of...

If you have clients who are contemplating Roth conversions who may also want to take advantage of clean vehicle credits and ACA premium credits, make sure to run the numbers so that you minimize their tax bill. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews Martin James, CPA/PFS, so that you can learn more about these scenarios. They discuss: ·         How the clean v...

Ellen Bruno is a CPA/PFS who has taken a career path that puts her in the seat of serving financial planners who are registered investment advisers. Her experience has always tied closely to money management beginning with her first role out of university with PwC. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, guides Ellen to share how she created her remote firm with 11 employ...

In part 2 of this series, you'll learn about the history of money and how that relates to the likelihood of Bitcoin becoming the future of money. In this episode of the PFP Section podcast, David Oransky, CPA/PFS, shares his knowledge based on his deep dive into understanding Bitcoin. Mark Astrinos, CPA/PFS, poses the following questions to David: What is the history of money? Compare and contrast...

David Oransky, CPA/PFS, believes that if you don't allocate a small allocation of your assets to Bitcoin as a hedge, you may be exposing yourself and your clients to a significant risk. In this episode of the PFP Section podcast, Mark Astrinos, CPA/PFS, interviews David Oransky, CPA/PFS, to get his wisdom on what we should know about Bitcoin. David takes a conservative approach to planning, so he...

There has never been a better time to focus on tax planning services to give clients high value. Integrating this with financial planning and investment management is even better. In this episode of the PFP Section podcast, Andrea Millar, RLP®, CPA/PFS, interviews Debbie Taylor, CPA/PFS, JD, to get her take on how to deliver the services that will make the largest impact for clients while also giv...

Clark Blackman started out in tax, moved into financial planning, and eventually honed his expertise in investment advice. He was very likely the first CPA who had a client pay their fees based on assets under management rather than hourly or retainer fees. His experience in large CPA firms paved the way to finally open his own wealth management firm in 2006 where he now works alongside his wife a...

Services like tax compliance and investment management are becoming commoditized. In this episode of the PFP Section podcast, Andrea Millar, RLP®, CPA/PFS, interviews Debbie Taylor, CPA/PFS, JD, to get her take on how to deliver the services that will make the largest impact for clients. They discuss: How do advisors add value beyond basic tax compliance and investment management? What is the brea...

The decision to wait until 70 to collect Social Security compared with starting as soon as possible is not as straight forward as it may seem. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS interviews expert Ted Sarenski, CPA/PFS to gain more insight into how to guide clients forward. They discuss: What are the factors that need to be considered when making this decision The stra...

SECURE 1.0 eliminated life expectancy distributions apart from eligible designated beneficiaries. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS provides a refresher of how the rules work and client examples to illustrate what needs to happen to maximize IRA wealth transfers. He shares: What happens in 90% of cases How the 10-year works before and after the required beginning dat...

Portability allows a surviving spouse to add the exemption of the first spouse to die to their exemption for estate tax purposes. This happens automatically on a timely filed estate tax return unless intentionally electing out of portability. The nuances come in when you need to file an extension to give more time to see which strategy works best or when filing an estate tax return wasn't necessar...

Dave Stolz started out as a music major and shifted to business and being a CPA along the way. His journey deeper into financial planning began when he lost his dad. This tragedy shifted his perspective on life and took him in a new direction. In this episode of the PFP Section podcast, Lyle Benson, CPA/PFS, interviews Dave to learn how he created his financial planning practice and much more. Dav...

Bob Keebler, CPA/PFS, discusses the techniques that make the most sense when you have a client who wants to maximize the wealth transfer of their large IRA. Bob walks you through the considerations in the following areas in this episode of the PFP Section podcast.  The payout rules Roth conversions CRTs IRA relocation  Access resources related to this podcast:  Note :  If you're using a podcast ap...

As financial planners, we have deep technical knowledge. It's a gift to take that expertise and deliver it in a way that simplifies concepts and ties back to what is most meaningful for your clients. In this episode of the PFP Section podcast, Andrea Millar, CPA/PFS, interviews Christine Moriarty to get her take on how to reduce overwhelm for clients. They discuss: How to be a thinking partner wit...