AICPA Personal Financial Planning (PFP)

As we narrow in on the sunset of the Tax Cuts and Jobs Act, many practitioners will be suggesting that their relevant clients make gifts. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, and Larry Brody, JD, discuss what needs to be known when valuing life insurance policies for the purpose of filing gift tax returns, including: For more resources related to this episode: Proactive Planning ToolkitAdviser’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.

The SECURE 2.0 Act opened new doors for the use of 529 plan funds. Kelley Long discusses the impact of the changes on strategies available to clients using 529 plans. Not only does Kelley review the rules of rolling 529 plan funds to Roth IRAs, but also takes a step further to address the numerous related questions she has gotten on this strategy and other creative ways to draw down 529 plan funds. In this episode of the PFP Section podcast, Kelley will provide the information you need to discuss how 529 plans can fit into your clients’ financial plans. The conversation includes the following topics: 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. Saving for college: The new 529-to-Roth IRA transfer ruleHow SECURE 2.0 impacts clients we see in our practiceEducation planningRoth changes from SECURE 2.0 visualpathways 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.

Kelley Long began her career in big 4 accounting like so many other CPAs. However, she had to quickly shift her path with the fallout that happened after September 11, 2001. Her roles as a bank trust officer and as a workplace financial wellness provider led her to her passion for coaching on the everyday money issues that clients have. In this episode of the PFP Section podcast, Lyle Benson interviews Kelley to share more of her story with our community. The conversation includes the following topics: 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 9 facts about HSAs that might surprise your clientspathways 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.

In part 2 of this PFP Section podcast series, experts Lee Slavutin, MD, CLU, and Marty Shenkman, CPA/PFS, JD, LLM share planning details to help you guide your clients in the following areas: For more resources related to this episode: health transitionsPFP Section resourcesCertificate Program 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.

Qualified terminable interest property (QTIP) trusts were created so that spouses could receive the benefit of the marital deduction while also setting aside resources for a surviving spouse and retaining control over what happens to the funds when the surviving spouse passes away. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, and Paul Hood, JD, LLM, discuss the nuances of QTIPs, including: For more resources related to this episode: Broadridge Alert1234certificate programProactive 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 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.

Do you want to be the trusted advisor who makes a meaningful difference in your client’s life? One of the ways to do this is to get in touch with the qualities of being that you want to demonstrate consistently with your clients. In this episode of the PFP Section podcast, Steve Atkinson, Managing Director with Admired Leadership, shares the behaviors that admired advisors have that separate them from the pack. Steve answers the following questions: For more resources related to this episode: Creating Your CPA Personal Financial Planning PracticeAdmired Leadership Field NotesAdmired Advisor podcast 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.

The tables are turned on Lyle Benson, CPA/PFS, in this episode of the PFP Section’s Deeper CPA Financial Planner Connections series. Dr. Haesun Moon, communication scientist, educator, and author, interviews Lyle to pull out the gold threads of his professional story. They discuss: 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 episodesENGAGE 2024Creating your CPA financial planning practice workshopPFS Live! workshop 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.

CPA financial planners help clients live meaningful lives and pass on their legacy. Often, estate planning is heavy on the practical and complex elements that can be seen as the housekeeping of who gets what and when. What we don’t always explore is the deeper why behind the estate planning. The good news is that you can coach clients to discover their legacy so that it can be communicated and so that your client can see the meaning of their life story and what they want to leave behind. Jean-Luc Bourdon, CPA/PFS, guides you in how to take on this role in this episode of the PFP Section podcast. He discusses the following: What legacy is, why it’s so important, and why it’s not optional Understanding the difference between the default, political, and organic legacies How to guide your clients to discover meaning, purpose, and legacy A client example where Jean-Luc illustrates how to have this conversation The enormous amount of research behind the benefits of reflecting on life How to integrate legacy planning into your work with clients Email us for the list of resources mentioned during the podcast. 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.

Proper insurance planning is one of the most overlooked areas of personal financial planning. In part 1 of this PFP Section podcast series, experts Lee Slavutin, MD, CLU, and Marty Shenkman, CPA/PFS, JD, LLM share planning details you will want to know, including: For more resources related to this episode: resourcesRisk Management and Insurance Planning Certificate Program 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.

PFP Executive Committee (PFP EC) chair, Brooke Salvini, CPA/PFS, and PFS Credential Committee (PFS CC) chair, Oscar Vives, kick off the New Year in this episode of the PFP Section podcast. They answer the following questions: 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. PFP SummitPFP certificate programPFS experienced trackPFS Live!PFP ChampionSlack channelENGAGE PFPCreating Your CPA Financial Planning PracticeAdviser’s Guide to Financial & Estate PlanningPFP Sectionpart 1part 2Deeper CPA financial planner connections 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.

Jim Shambo is one of the pioneers of the CPA financial planning profession, the PFP Section, and the PFS Credential. He has a lot of insight to offer on many topics that can be useful takeaways for listeners. In this episode of the Deeper CPA financial planner connections PFP podcast, Lyle Benson facilitates a discussion with Jim to share the highlights of his story. The conversation includes the following topics: 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 episodesENGAGE 2024How to build your CPA financial planning practice workshop 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.

Ed Slott, CPA, and Bob Keebler, CPA/PFS, discuss the complicated inherited IRA RMD rules and what is required in 2023 and 2024 in this episode of the PFP Section podcast. Ed and Bob provide clarity in the following areas: For more resources related to this episode: 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 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.

150 million Americans live with chronic illness. And yet, disability and long-term care (LTC) insurance are often overlooked in planning with clients. In this episode of the PFP Section podcast, experts Lee Slavutin, MD, CLU and Marty Shenkman, CPA/PFS, JD, LLM share the most important considerations for client planning, including: For more resources related to this episode: Risk Management and Insurance Planning Certificate Program 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.

You can give your clients tremendous value by guiding them with their life insurance planning, even if you’re not an insurance expert. In this episode of the PFP Section podcast, Ed Mendlowitz, CPA/PFS, interviews expert Lee Slavutin, MD, CLU to share strategies for businesses. Ed poses the following questions to Lee: For more resources related to this episode: tax traps to beware of with life insurance planning.life insurance planning strategies for individualsVolume 1Risk Management and Insurance Planning Certificate Programlife insurance policy evaluation tools checklistreplacing a life insurance policy 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.

This is part 2 of the PFP Section podcast that marks our CPA financial planning history and celebrates the journey of where we’ve been to take us into the future. We once again invited other AICPA volunteer leaders into the discussion to help us share our story. In this episode, Lyle Benson, CPA/PFS, Andrea Millar, CPA/PFS, and other CPA financial planners discuss: 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. Statement on Standards in Personal Financial Planning ServicesCPA’s guide to investment advisory business modelsdecision chartcase studyevolution of the CPA examfundamentalscertificates 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.

As with any profession, it’s important to understand how we got to where we are today to take us into a successful future. In this 25th episode of the Deeper CPA Financial Planner Connections podcast series, Lyle Benson, CPA/PFS, and Andrea Millar, CPA/PFS discuss how the CPA financial profession got started and led to building a thriving community and resources from there. They also invited other AICPA volunteer leaders to this episode to share their perspectives. The conversation includes: 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. Sid prepared this dictation25th anniversary celebration documentENGAGE 2024How to create your CPA personal financial planning practicePFS Live! 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.

In July, California Governor Newsome signed legislation that disallows the incomplete gift non-grantor trusts (INGs) as a way to avoid CA state tax income. The law is retroactive to January 1, 2023. In this episode of the PFP Section podcast, Bob Keebler, CPA/PFS, interviews CA attorney, Kirsten Wolff, to guide CPAs on how to proactively plan with this new legislation. Bob poses the following questions to Kirsten: For more resources related to this episode: CA ING trustProactive Planning Toolkitdecision charts 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.

You can give your clients tremendous value by guiding them with their life insurance planning, even if you’re not an insurance expert. In this episode of the PFP Section podcast, Ed Mendlowitz, CPA/PFS, interviews expert Lee Slavutin, MD, CLU to share strategies to consider for your individual clients. Ed poses the following questions to Lee: For more resources related to this episode: Lee’s podcastVolume 1AICPA’s Risk Management and Insurance Planning Certificate Program 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.

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: For more resources related to this episode: 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 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.

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: 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 episodesENGAGE 2024 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.