Guests:  Bob Keebler, CPA/PFS and Jonathan Blattmachr, Esq.

The elimination of the ability to stretch IRA and qualified plan distributions over the life of the beneficiary has made effective planning a bit more challenging. In this episode, learn from Bob Keebler and Jonathan Blattmachr as they explore the SECURE Act’s 10-year rule and planning strategies for your clients, including: 

• Using CRUTs or NIMCRUTs to simulate a payout that is longer than 10 years
• Considerations for planning with trusts and s-corporations
• How to create a plan that gives your clients flexibility and opportunities
• How to calculate the math and determine the timing of these planning strategies

Access the related resources from this podcast:

• SECURE Act resources, podcasts, and charts from Bob Keebler in the Proactive Planning Toolkit
• 10^th edition of The Adviser’s Guide to Financial and Estate Planning updated for SECURE
• Article analyzing the  CRUT and NIMCRUT strategy

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guest:  Sandra Truitt, AICPA PFP Team

Calling all PFP Section members!  Are you looking for tips and tricks for diving into your PFP Section benefit suite?  Look no further than this podcast episode featuring Sandra Truitt from the AICPA PFP team.  She will give an A-Z overview of your benefits including:

• Quick tips for getting started
• Resources included with membership
• Ways to stay current and in the loop
• Opportunities to connect with peers and the AICPA team
• Can’t-miss ideas for using the tools included

Access the related resources from this podcast:

• Make the most of your PFP Section benefits brochure
• Slides to accompany the podcast
• PFP Section website training videos
• Broadridge training videos
• CPA/PFS pathway information

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guest: Ross A. Riskin, DBA, CPA/PFS, CCFC, MS Tax

The coronavirus pandemic brought major changes to higher education. From where to attend classes to exploring the upcoming financial aid filing season, there are a lot of important factors to think through right now. Hear from professor and education planning expert, Ross Riskin, CPA/PFS, in this podcast as he shares new strategies around:
• Using 529 plan distributions for room and board when a child is living at home
• What to know about the FAFSA process for the fall semester
• CARES Act relief provisions and planning strategies for student loan repayments
• Deeper education planning questions that go beyond finances
Access the related resources from this podcast:
• The Adviser’s Guide to Education Planning: covers how to get started, tax planning considerations, and special planning considerations for high net worth individuals, business owners, divorced couples, and grandparents. (Free Excerpt)
• Coronavirus (COVID-19) personal financial planning resources

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guests:  Lyle Benson, CPA/PFS, and Susan Bradley, CeFT®, CFP®

The emotions underlying decisions can create confusion in times of major transition like the pandemic.  In this podcast, you will walk away with gems to help you have better conversations with your clients that lead to action with purpose. Tune in as Lyle Benson interviews life transition expert Susan Bradley: 

• What are the four stages of transition and how you can you support your clients through each?
• What are the most effective questions to help clients discover their purpose? And what question might you want to avoid?
• Why is having a structured conversation so important and what tools can help facilitate?

Access the related resources from this podcast:

• Diagrams highlighting the four stages of transition and the personal and technical side of money
• Purpose, method, outcome (PMO) worksheet to structure and facilitate conversations with clients
• Broadridge Advisor’s Life Events Resource Center (available for PFP Section members)

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guest: Erin Scheithe

Losing money or property to fraud can be devastating. While scammers’ exploitation tactics are familiar, the pandemic may lead to an increased likelihood that your clients will fall for them. In this episode, learn about coronavirus specific fraudulent schemes that you can share with your clients.

Erin Scheithe with the Consumer Financial Protection Bureau answers questions to help you protect your clients:

• Who is the target of coronavirus-related scams?
• What are the red flags you should look for?
• Who should you turn to if one of your clients has been scammed?

Access the related resources from this podcast:

• Consumer Financial Protection Bureau’s coronavirus and older adult resources
• Content for financial planning professionals
• Content for forensic professionals

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guests: Ted Sarenski, CPA/PFS

During the coronavirus pandemic, you have witnessed uncertainty with personal finances and the anxiety that has come with even the best-laid plans. What can you do today to help your clients gain comfort and clarity? You can help them with their Social Security planning decisions. In this episode, learn from Social Security expert Ted Sarenski, CPA/PFS, as he shares key insights that will help you help your clients, including:

• Expectations for next year’s Trustees of Social Security and Medicare trust funds report
• Tips to keep age 62 clients going who are now unemployed or earning much less
• Decision-making formula for preserving Social Security benefits
• Considerations for married couples, surviving spouses, and families
• Social Security outlook for those under age 60

Access the related resources from this podcast:

• The 2020 Trustees of Social Security and Medicare trust funds report
• Ted Sarenski’s guide to Social Security planning

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guests:  Jim Sullivan, CPA/PFS

Client 65+ and those with certain medical conditions are at higher risk for contracting COVID-19. If they are affected by the virus, you can help them understand their increased Medicare benefits put in place by the Centers for Medicare and Medicaid Services. In this episode, learn from Jim Sullivan, CPA/PFS, as he answers questions about the changes to Medicare benefits like:

• What testing and treatment does Medicare cover for COVID-19?
• How have telemedicine services been expanded? 
• If a vaccine is approved, will it be covered by Medicare?
• How have the special rules for Medicare coverage for a skilled nursing facility changed?
• Can beneficiaries obtain extended supplies of prescription medications?
• What if out-of-network care is needed?
• What to consider with Medicare Advantage plans?

Access the related resources from this podcast:

• Read Jim’s write-up that accompanies this podcast here.
• Find out more about what services are covered: https://www.medicare.gov/coverage
• Access The Adviser’s Guide to Retirement and Elder Planning: https://www.aicpa.org/pfpguides
• Visit https://www.aicpa.org/pfp/covid19 to find resources and information about planning during the pandemic.

The 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 and 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Do you have clients who have had coronavirus-related health or financial issues? The CARES Act retirement plan and IRA provisions may be able to provide them with cash flow relief. Use your deep tax knowledge as a CPA financial planner to help your clients make smart planning moves now. Be sure to follow along with the slides included in the resources as you learn from Bob Keebler, CPA/PFS, in this episode. He answers questions from Sections 2202 and 2203 of the CARES Act, including:

• What are the rules for retirement plans and IRAs?
• What qualifies as a coronavirus-related distribution?
• What is the tax impact of taking a coronavirus-related distribution?
• What are the loan relief provisions?
• Are employers required to adopt the distribution and loan rules?
• What planning opportunities should you consider and when should you exercise caution?

Access the related resources from this podcast:

• Find the slides to follow along with the podcast here.
• Read the IRS FAQs that provide more clarity - https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-answers.
• Visit the COVID-19 section of our PFP Learning Library (aicpa.org/pfp/library) to find related podcasts on RMDs and Roth IRAs.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guests:  Lyle Benson, CPA/PFS

Has your client contact increased significantly during the pandemic? Do you wonder how other CPA financial planners are adding value and communicating with clients during this time? CPAs have provided the calm in the storm for their clients and have shifted their ways of doing business to meet changing client needs. Learn from Lyle Benson, CPA/PFS, as he shares insights from his study group of leading CPA financial planners such as:

• What is the most important message to make sure your clients hear?
• What are the fears and challenges that are top of mind for clients and how can you address them?
• What are ways you can add value as a CPA financial planner?
• What are the unique planning opportunities you can consider with your clients now?
• What reflections questions will help you and your clients think about how you’d like life to look as we come out of the pandemic?
• And much more

Access the related resources from this podcast:

• Visit www.aicpa.org/pfp/covid19 to find a client letter shared by Lyle that includes reflection questions. You will also find on-demand learning from top experts covering planning strategies mentioned in the podcast.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify!. Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.

Guests:  Bob Keebler, CPA/PFS and Chris Hesse, CPA

Under the CARES Act, you may be able to help your relevant business owner clients with their cash flow needs.  This can be done by generating refunds from net operating losses (NOLs). As a CPA financial planner, use your deep tax knowledge to help clients benefit from this opportunity. Learn from experts Bob Keebler, CPA/PFS, and Chris Hesse, CPA, in this PFP podcast episode as they explore:

• What is the excess business loss provision in IRC Section 461(l) and how does it work?
• How does the CARES Act impact IRC Section 461(l)?
• What should clients who were limited in the deductibility of their business losses in 2018 do now?
• What forms do you file and what are the mechanics of filing for the NOL carryback provision?
• What’s the number one hurdle you face to get the net operating loss filed and what are the viable alternatives to consider?

Access the related resources from this podcast:

• Visit www.aicpa.org/sba for information on the Paycheck Protection Program.
• Visit www.aicpa.org/pfp/covid19 to find personal financial planning resources.
• Visit www.aicpa.org/covid19tax.html to find tax guidance.

The episode is brought to you by the AICPA’s Personal Financial Planning Section (www.aicpa.org/pfp), the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential (www.aicpa.org/pfs) 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 and gain access to valuable member-only benefits.

Don’t miss an episode – subscribe to our podcast series on iTunes or Pod-o-Matic or Spotify! Just search for “AICPA Personal Financial Planning” on any Apple, Android or Windows device.