This presentation will discuss how tax advisors should tell their their wealthy (but not ultra-wealthy) clients who no longer have a Federal estate tax problem because of the very high (and temporarily doubled) applicable exclusion amounts. It will discuss estate and income tax planning techniques in light of estates of varying sizes, the risk of expiring exclusions, the “clawback” regulations, and state income and death tax considerations.

Learning Objectives:

1. When (and how) should clients make large taxable gifts?
2. How to build flexibility into client plans if tax laws change.
3. Techniques that maximize income tax savings when transfer taxes are no longer a problem.

The business environment is complex and evolving more rapidly than ever. In order to position ourselves for success, we must understand prevailing environmental trends, how they impact what we do as assurance providers, and the opportunities they present.

Learning objectives:

1. Learn about the trends in the environment that are impacting assurance practice
   
2. Understand impacts on audit quality
   
3. Obtain insights into developments that will affect practice in the near future
   
4. Learn about new assurance opportunities

This presentation provides detailed discussions of global, national and regional economies using the most up-to-date data available. Special attention is invested in critical elements of economic life, including the performance of financial, labor, and real estate markets. At the end of this presentation, audience members will:

1. Understand the myriad ways in which global economic dynamics are impacting the U.S. economy.
   
2. Understand which industries are expanding the fastest in America.
   
3. Understand how policy-making continues to shape economic outcomes in the U.S.
   
4. Understand the primary sources of risk to the current expansion cycle.
   
5. Understand key factors shaping the U.S. economic outlook in the near and far terms.

While the increased estate tax exemption has virtually eliminated all taxpayers from being subject to the estate tax, there are still some non-estate tax reasons for engaging in various estate planning techniques. During this session, we will discuss the following estate planning techniques and outline ways to make them more effective.

1. Tax exclusive nature of gift taxes
   
2. Leveraging of the GST exemption
   
3. Grantor Retained Annuity Trusts (GRATs)
   
4. Installment sales to Intentionally Defective Grantor Trusts (IDGTs)
   
5. Self-Canceling Installment Notes (SCINs)
   
6. Private annuities

Learning Objectives include:

1. Understand the importance of running the numbers in developing and communicating planning techniques for clients
2. Discover ways to minimize income, estate and gift taxes
3. Recognize methods to maximize benefits to children and family
4. See how to take full advantage of the currently low interest rates

An organization's data is oftentimes thought of as its most valuable asset, yet many entities struggle when it comes to protecting that data. This is especially true when it comes to the personally identifiable data of customers, trading partners, and employees. This session will explore the topic of data protection anhttps://aicpaconferences.com/aicpa/admin/sessions/38773/edit/1118#d provide attendees with a greater appreciation of the potential difficulties one may encounter when attempting to create a data protection strategy, data handling procedures, control activities, and the types of technical tools available in the market about which CPAs should be aware.

Learning objectives:

1. Leave participants with an in-depth understanding and increased appreciation of the challenges organizations face when designing and implementing a robust data protection strategy and methods.
   
2. Provide participants with recommended steps for identifying an organization's critically important and most valuable data, identifying the types of controls that can help protect the integrity and privacy of that data, and technologies available in the market that can help prevent and detect data breaches and related data losses.

This session will provide an update on the status of CECL, and the evolving best practices related to the implementation, integration and internal control being utilized to achieve a proper transition from current GAAP to the new standard.

You will receive critical information related to:

The necessary team members that need to be involved; impact in your internal controls; critical elements when using a third party; and how to discuss the new model with your auditors.

Learning objectives:

1. Achieve a better understanding of the various methodologies in place under the new guidance.
   
2. Achieve a better understanding of how the new CECL model can impact your ICFR environment for SOX purposes.

Academics and industry experts have placed a spotlight on health care costs that US households can expect to incur during retirement. Most Americans understand that annual heath care costs have been growing faster than inflation, and they are also cognizant that they will likely consume more health care services as they age. As a result, pre-retirees and retirees are concerned about how health care costs will impact their retirement, and how they will pay for them. To better understand the financial planning implications of annual health care costs and long-term care expenses, Vanguard has partnered with Mercer Health and Benefits to develop a proprietary model to forecast the range of health care costs for pre-retirees and retirees. This session will address the research and planning considerations for health care and long-term care expenses in retirement.

Learning Objectives:

1. The participant will gain an understanding of the new model developed by Vanguard and Mercer Health and Benefits forecasting health care costs for US retirees. The model proposes several changes to the way health care costs are typically discussed and modeled when planning for retirement.
   
2. In addition, the session will emphasize the considerations impacting the annual health care costs including health status and risk, employer subsidies, Medicare coverage choices, retirement age, geography and income in retirement.
   
3. Lastly, long-term care costs represent a unique and distinct planning challenge that should be taken into account separately.

In this session, we will build on the session from last year, where we examined an approach to improving the link between fees and value. The approach to pricing innovation depends on the target client segment. Advisers looking to target non-traditional clients (e.g. younger clients, clients who wish to manage their own assets) must innovate on the price metric. Advisers who wish to remain focused on traditional HNW clients have to work harder to define and regulate the value they deliver to clients of different sizes. In this session, we will summarize our latest thinking on these two approaches, including a summary of the key points that advisers must consider when undertaking innovations of this kind. Learning Objectives:

1. Understand the options open to advisers who want to take an innovative approach to linking fees and value.
   
2. Learn the key considerations involved in each alternative pricing strategy.

Financial advisors have long used options to create specific outcomes for clients, whether they be income-oriented or to protect capital. This session will focus on how specific strategies and simplifying complex concepts can be useful in shaping investor behavior. 

Learning Objectives:

1. Explain how options can create defined outcomes in portfolios
   
2. Identify strategies that positively influence investor behavior

Annuities have had their share of detractors over the years. The reality is annuities currently serve a critical purpose for millions of Americans – adding a level of security, while helping alleviate some of the financial worry for the future. This presentation will address:

1. Common objections to annuities including cost, complexity, liquidity and tax considerations.
   
2. The benefits of annuities including a discussion of some of the protective features offered by annuities today.
   
3. The value of incorporating guaranteed income into a comprehensive retirement income plan.
   

Learning Objectives:

1. Provide several actionable talking points to help advisors understand and overcome common objections to annuities and start the important conversation about retirement income planning.
   
2. Help inform investors to be in a better position to determine whether an annuity makes sense as part of their overall financial plan.

This program will review recent changes in the estate, gift and generation-skipping tax rules, and provide updates on state law income tax of trust cases.

Learning objectives:

1. Understand recent tax law changes related to estate, gift and generation-skipping tax rules.
   
2. Become aware of planning opportunities associated with the expected reduction in the unified credit.
   
3. Learn about a recent Supreme Court case regarding the ability of a state to tax income of a trust based on the residence of its beneficiaries that could change the ability of states to collect such tax.
   

The Auditing Standards Board Chair will discuss recently issued standards for audits (SASs) and attestation engagements (SSAEs). The discussion will also include the ASB’s active agendas including ongoing efforts to enhance the standard setters’ outreach to stakeholders regarding proposed standards and post-implementation reviews of issued standards. This session will feature a discussion of the current status of the ASB’s projects to: a) Revise and expand the auditor’s report, b) Enhance auditor attention on financial statement disclosures as part of the risk assessment process and throughout the audit, c) Revise the attestation standards to enable a practitioner to perform an examination, review, or agreed-upon procedures engagement without having to request a written assertion from the responsible party, d) Revise the auditor’s performance and reporting responsibilities with respect to ERISA audits, e) Explore potential changes to the audit evidence standard; and convergence efforts on estimates and auditor risk assessment.

Learning objectives:

1. Obtain an understanding of the standards recently issued by the auditing standards board.
   
2. Obtain an understanding of projects currently underway at the auditing standards board and in the profession overall.

With 10,000 baby boomers retiring every day for the next decade, now more than ever is a critical time to give thoughtful consideration to the variables playing a role in retirement planning advice. This dynamic panel of experts led by moderator Bob Veres will actively explore how current client trends along with the changing landscape impact key assumptions including investment returns, inflation, longevity/life expectancy, spending (and changes over time) and Social Security.

Learning objectives:

1. Gather information about key variables and assumptions that impact clients who want to retire.
   
2. Uncover the latest methodology and studies which lead to informed assumptions.
   
3. Gain knowledge as to what your peers and other leading professionals are planning for in retirement forecasting.

There is a revolution taking place in how advisors provide financial planning advice to clients, and how financial planning software is evolving. Join FinTech expect Joel Bruckenstein, and a panel of industry experts as they discuss the evolution of financial planning advice and the software that supports it. 

Objectives:

1. Learn about the changes taking place in how financial planning advice is provided.
   
2. Understanding the challenges that the next generation of clients wants advisors to solve for
   
3. Explore new financial planning techniques 4. Understand how software is evolving to support the evolution of financial advice

This session will cover 2 parts.

In part 1, a brief overview will be provided of investing for higher education, and an update on changes happening in the legal and political landscape. Then we will dive into conversations you should be having with every client in every age group about college planning.

The second part of this presentation will be focused on the ABLE savings program, which allows people with disabilities to open tax advantaged savings accounts that do not count against income limits for government benefit programs. This presentation will provide CPA's and other professionals with an additional tool to help people with disabilities and their families save for the future.

By the end of this session participants will:

1. Have an excellent understanding of the benefits of 529 plans, as well as how to discuss college savings with your clients.
2. Learn about the benefits of the ABLE Savings Program.
3. Be provided with an additional tool for people with disabilities to save for the future.

In this session, we will discuss complexities associated with valuation of small and lower middle market businesses in the context of the business owner’s objective to monetize wealth stored in the company. We will consider an overview of appraisal methods, adjustments commonly required in small business valuations and issues that can interfere with realization of the appraised value in an actual sale transaction. Finally, we will discuss how financial professionals can assist their business owner clients to maximize the value of their business interests. This session is relevant to financial professionals who work with owner managed businesses.

Key learning objectives include increased understanding of:

1. Important valuation elements
   
2. Mechanical adjustments peculiar to small business valuations
   
3. Business issues peculiar to small business valuation
   
4. The importance of the financial professional’s roll in transition planning

Despite the fact that Americans hold nearly $30 trillion in retirement assets, and that those assets often make up a substantial portion of an individual’s net worth, IRAs and other retirement accounts continue to be ignored or insufficiently addressed within many estate plans. Left unaddressed, this planning gap can result in unnecessary taxation, the loss of valuable tax deferral, exposure of assets to “angry” creditors, and other harmful, wealth-sapping effects. The flip side of that coin, however, is that advisors who take proactive steps now to address the unique estate planning issues retirement accounts present can add substantial value for clients, and can effectively position themselves for the veritable tsunami of retirement assets that will be transitioning between generations in the coming years.

1. Gain an understanding of post-death payout rules and analyze the planning strategies beneficiaries can use to make the most of their inheritance. 
   
2. Learn the key rules that apply when naming a trust as the beneficiary of an IRA. 
   
3. Understand how to choose the “best” way for a surviving spouse to handle retirement assets. 
   
4. Explore the surprisingly complex interaction of state and Federal laws governing retirement account property rights.

Preparation of Form 706 is becoming a lost art. IRS inspects every return that is filed. You don't want to look like a rookie - prevent that by avoiding common errors.

Learning Objectives:

1. Identify presentation methods that clearly describe assets and valuation.
2. Understand how recent developments affect Form 706 preparation.

In the Decanting Session, the speakers will discuss how to utilize decanting to make trusts more efficient for creditor, estate and income tax purposes. Specifically, the speakers will discuss trust design that is most advantageous for creditor, income tax and estate tax protection, and how an otherwise irrevocable trust can be improved through decanting.

Learning Objectives:

1. Review the process of decanting and different state law approaches to decanting.
   
2. Review what can and cannot be accomplished through decanting depending on state law.
   
3. Review optimal trust design for creditor, income tax and estate tax purposes.
   
4. Review decanting case studies.

It used to be sufficient to check beneficiary designations and titling of assets were consistent with the estate planning documents. With longer lives and the demand for more open communication from younger generations, communicating the estate plan is now essential. We will provide tips for having a successful meeting, what to disclose and how best to communicate the plan.

Learning Objectives:

1. Understand the importance of communicating the estate plan for family harmony.
   
2. Learn some ideas for effectively communicating the plan.

This session will provide attendees with an update on recent changes to the Code of Professional Conduct and also refresher on other ethical topics that the hotline staff are frequently asked about. In addition to understanding changes to your ethical responsibilities an emphasis will be made on understanding responsibilities related to hosting services.

Learning objectives:

1. Get an overview of hosting services changes to ethical responsibilities.

Business combinations and the application of FASB ASC 805 is one of the more challenging and complicated areas of accounting and financial reporting. This session highlights some common and trickier issues that can arise when accounting for a business combination. In addition, the presenters will offer audit considerations for those issues and other key aspects of such transactions.

Learning objectives:

1. Gain an understanding of the application of the accounting literature to certain elements of a business combination.
   
2. Comprehend certain common and challenging issues that arise during a business combination and how to properly account for them.
   
3. Expand knowledge and skills related to business combinations.

This session is Part 1 of a two-part session series. These sessions, which qualify for the ongoing Team/Review Captain training requirement, will cover recent changes to peer review guidance, peer review resources and other related developments.

Learning objectives:

1. Obtain an understanding of recent and upcoming changes in the peer review program guidance.
   
2. Obtain an understanding of the current enhancing audit quality initiative areas of focus.

More and more firms are engaging in mergers and acquisitions as a strategy for growth and entry into new markets. Mergers can be a powerful strategy but they can also be an invitation for disaster. We will review the practical experience of the industry in identifying the right merger partners and facilitating integration.

1. Determine if engaging in a merger is the right strategy for your firm or practice.

2. Developing criteria for the right merger candidates. 

3. Creating a strategy for successful integration.

With a federal basic exclusion amount of $11,400,000 per person, and further inflation adjustments coming every January 1, the uninformed might wonder whether trusts are still relevant in planning. For the thoughtful and informed advisor, however, there is no question but that trusts remain the vehicle of choice for most clients. Consider, for example, that even beyond the scheduled sunset of this generous exclusion on January 1, 2026 (as well as the fact that a significant minority of states still impose estate taxes at much lower thresholds), trusts can protect against creditors, ensure professional investment management, limit overspending by immature beneficiaries, and allow the grantor to designate who might benefit from his or her largess. These points, as well as a number of other benefits to the continuing use of trusts in planning will be explored in detail in this session. 

Learning Objectives:

1. Attendees will learn how trusts can be beneficial in furthering clients' planning objectives, beyond simply saving estate and generation-skipping transfer taxes.

2. Attendees will learn the various alternative ways of structuring clients' trusts to achieve these planning objectives, including the positive and negative considerations for each such alternative.

There have been many developments over the past decade in how private client investment portfolios are structured and how investments should be managed. These changes include an increase in the availability of asset classes that were previously only available to institutional investors.

This session will provide a theoretical framework for analyzing and structuring investments for private clients. It will include an update on a number of the developments and advances that have occurred, review the practical usage of some of the additional asset classes and discuss how, from a practitioner's perspective, these advances and asset classes can be implemented in advising private clients and managing their assets and investment portfolios.

This will be an intermediate to advanced session that will be of interest to asset allocators, investment managers and private client and family offices advisors.

Learning Objectives:

1. Update on developments and changes in the theory and practice of asset management for private clients.

2. Update on the availability and the practical usage of non-traditional asset clients for private clients.

As a financial planner, one of the many important aspects of a portfolio that needs to be addressed with care is making sure clients and their families are properly insured to protect their homes, cars, most prized possessions, and overall current lifestyle. During this session, Patti Clement, Senior Vice President of leading global insurance brokerage, HUB International, will review the latest trends in the personal insurance property and casualty market; how to work with your clients to ensure they have the right coverage to fit their unique needs; uncovering any hidden or commonly overlooked exposures; adapting to today’s current landscape including erratic weather patterns, the Me Too movement and much more. 

Learning Objectives:

1. A detailed overview of commonly purchased lines of insurance coverage for individuals.

2. Current state of the insurance marketplace for personal lines.

3. Insight on commonly overlooked exposures. - Case study examples of how working with the right insurance broker can greatly benefit a financial planner and in turn their clients.

With the passage of the TCJA, Roth IRA conversions have once again become popular. While many professional advisors know about the basic rules of Roth IRAs, they do not understand the economic/tax intricacies associated with them. Unfortunately, failure to understand the mathematical fundamentals of Roth IRA conversions can lead to making disastrous decisions. However, with a good working knowledge of the quantitative “forces” which impact Roth IRA conversions, professional advisors will be able to give cogent, straightforward advice to their clients.

Learning Objectives:

1. Reasons to convert to a Roth IRA

2. Taxation of Roth IRA conversions

3. Taxation of Roth IRA distributions

4. Mathematics of Roth IRA conversions

5. Recharacterizations

6. Estate tax considerations

7. “Stretch” Roth IRAs • Using insurance to preserve post-death “stretch-out”

8. Tax-sensitive withdrawal strategies

The Association (unified voice of AICPA & CIMA) and CPA.com launched a shark-tank style startup accelerator two years ago with a focus on FinTech and EdTech. Its purpose is to foster innovation in the profession and provide members, the Association, and CPA.com more visibility into disruptive trends and emerging technologies. In this session, you will hear from the 2019 cohort – 3 startup companies that have a leading role in client workspace solutions, cash flow management and accounting task automation.

During this session you will:

1. Discover trends in FinTech that are impacting the profession and your role.

2. Hear from the front lines of disruption.

3. Learn about the 3 startups that are members of the second cohort of the Association and CPA.com Startup Accelerator - https://www.aicpa-cima.com/accelerator.

4. Get inspired to rethink how you can leverage financial and educational technology.

The Beneficiary-Deemed-Owned Trust (BDOT) is a relatively recent development among estate planning techniques. It has some characteristics similar to an Intentionally Defective Irrevocable Trust (IDIT), and others that are like a Beneficiary Defective Inheritor’s Trust (BDIT). However, it works in a different way, and is useful in different situations. The beneficiary can sell assets income-tax-free to the trust (like an IDIT), but the initial funding of the trust is not limited to $5,000 (as is true of a BDIT).

Learning Objectives:

1. To show the participants which specific tax laws are utilized so that the BDOT technique achieves "Grantor Trust" status, so that the beneficiary becomes taxable on the activity of the trust.
   
2. To explain when the BDOT technique is useful, which clients will find it appealing, and what situations need to exist before this technique should be presented as an opportunity for clients.

This session will provide a summary of recent GAAP changes for shared-based payments as well as discuss examples based on requests submitted to the AICPA technical hotline (such as, profits interests, stock options, etc.).

Learning objectives:

1. Attendees will understand the recent GAAP changes for share-based payments.
   
2. Attendees will understand how to apply the current GAAP to common situations.

Join this discussion on maintaining Independence while providing non-attest services and knowing where to draw the line. Practitioners are constantly striving to provide increased additional services to meet their client’s needs and this may include providing professional services that could give rise to threats to independence. This session will address concerns that practitioners have when providing certain non-attest services including revenue from contracts with customers, hosting services, and independence breaches.

Learning objectives:

1. Implementation of FASB ASC 606, Revenue from Contracts with Customers: discuss at what point does providing this service impair independence.
   
2. Discover how to determine if your firm is providing hosting services and what actions are needed to take prior to the effective date of the interpretation.
   
3. Determine what steps should your firm take after discovering a breach of independence when performing non-attest services.

Implementing the new revenue and lease accounting standards presents difficulties and commitments of resources which can be avoided by preparing financial statements under the Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs). For the great many private companies that are not required to follow U.S. GAAP, the FRF for SMEs is an ideal financial reporting option that produces financial statements that management and bankers can use and rely upon. Hear from a CPA practitioner who has converted clients to the FRF for SMEs and learn about those experiences, as well as what the FRF for SMEs is all about.

Learning objectives:

1. Gain a comprehension of the fundamental principles of the FRF for SMEs.
   
2. Gain a comprehension of how the FRF for SMEs differs from other accounting frameworks.
   
3. Learn how to transition financial statements to the FRF for SMEs.

Advisory firms are most of all teams of people - people whose motivation and performance determines the success of any strategy. This session will explore what motivates professionals and what are the managerial, cultural and financial tools that a firm can use to create better motivation and retention among its professionals.

1. Discuss what motivates professionals. 
   
2. Determine what motivational tools are available and practical Examine the role of bonuses and incentives in creating motivation. 
   
3. Look into the relationship between career development and retention.

The 1992 Journal of Finance publication of Eugene Fama and Kenneth French’s seminal paper, “The Cross-Section of Expected Stock Returns,” changed the way we thought about the diversification of portfolios. Prior to then, investors had lived in a single-factor world, with market beta as the sole equity factor. Market beta measures the sensitivity of the equity risk of a stock, mutual fund or portfolio relative to the risk of the overall market. Today, there are 600 factors identified in financial literature. How do we know which ones we consider for investment? This presentation will give you some tools to help understand and explain this brave new world of factor-based investing. The presentation is based on the book by Larry Swedroe and Andrew Berkin, "Your Complete Guide to Factor-Based Investing." This session will provide attendees with not only the factor criteria of diversification, but also the factors that meet the criteria. Participants will learn the characteristics of high-quality stocks and time series momentum.

This session will educate on Long Term Care (LTC) insurance. Topics will include LTC basics, costs for care and policy types. This topic is very timely as the media gives it much attention and clients are asking about this type of coverage. Much time will be spent on hybrid policy types as this is the fastest growing and most requested type of coverage. 

Learning Objectives:

1. Attendees will learn the basics of LTC insurance.
   
2. Attendees will get root knowledge to be able to communicate the need for LTC coverage and solutions to meet their needs and objectives.

With high estate tax exemptions, income tax planning with trusts has become a high focus of estate planners. This presentation will cover the choice of trust situs selection for income tax purposes.

This presentation will outline:

1. How different states tax non-grantor trusts. 
2. How to select the best jurisdiction for a non-grantor trust for income tax purposes.

Distributable Net Income (DNI) is the lifeblood of the distribution system applicable to trusts and estates. This session will begin by reviewing what DNI is, how it is calculated and why it is important. After reviewing three example of how DNI is calculated we will review how DNI is allocated between the trust/estate and its beneficiaries, how specific bequests are treated, the operation of the tier system and separate share rule, the Section 643(e) election and how capital gains are treated in the calculation of DNI. We will also discuss how income from pass-through entities owned by a trust/estate are handled for purposes of calculating DNI. This session is designed to give the practitioner a basic to intermediate understanding of the operation of the distribution system of trust and estate and how DNI is reported on the Form 1041 and the Schedule K-1.

Learning Objectives:

1. Learn the basic concepts in the calculation of DNI.
2. Learn the rules for including capital gains in DNI.
3. Learn how to calculate DNI and report it on the Form 1041.

For resources related to this session, please visit: www.kitces.com/AICPAEN19

As the use of annuities increases, particularly amongst baby boomers planning for retirement, professional advisors face more and more situations where they must properly report on and plan for annuity transactions. However, annuities are subject to unique rules of taxation. In this session, we will cover the income and estate tax treatment of deferred annuities during life and death, with a particular focus on the complex rules and significant areas of ambiguity that apply to post-death distribution requirements from deferred annuities, and including some of the latest IRS rulings!

  Learning Objectives:

1. Distinguish between the various types of annuities and, in particular, the various types of deferred annuities while pointing out the parties to the contract. -
   
2. Explain the tax treatment characteristics of deferred annuities while the owner is alive. List the exceptions to tax-deferral and how partial withdrawals differ from full surrenders.
   
3. Understand the tax treatment of deferred annuities upon death of the owner and how the estate tax is valued along with the post-death distribution requirements.
   
4. Define and explain how Income in Respect of a Decedent (IRD) works, when a deferred annuity gets a step-up in basis, and how post-death 1035 exchanges by beneficiaries work.
   
5. Be able to identify and address the unique, complicated problems that occur when a deferred annuity owner passes away.

This session will provide insights and lessons learned from leading ASC 606 implementations at public companies over the last several years.

Learning objectives:

1. Learn best practices for scoping and planning ASC 606 projects.

2. Discover tips for getting through common implementation and transition challenges.

This session will familiarize participants with what audit data analytics is and will also focus on critical success factors and barriers to audit data analytics implementations. The session will include information on project management methodology and tools to use in order to maximize rate of return on audit data analytics investments.

Learning objectives:

1. Discuss challenges and best practices of audit data analytics.

2. Discover the benefits of audit data analytics tools and project planning to maximize value of audit data analytics implementations.

This session is Part 2 of a two-part session series. These sessions, which qualify for the ongoing Team/Review Captain training requirement, will cover recent changes to peer review guidance, peer review resources and other related developments.

Learning objectives:

1. Obtain an understanding of recent and upcoming changes in the peer review program guidance.
   
2. Obtain an understanding of the current enhancing audit quality initiative areas of focus.

Lifetime income streams such as Social Security, pensions, and private annuities provide a base of safe spending that affects the consequences of taking risk in an investment portfolio. This presentation demonstrates the implications of lifetime income on retirement outcomes such as failure rates and utility maximization, and explains how optimal portfolio allocation is affected by various types of income streams. Attendees will better understand how optimal equity allocations are affected by lifetime income and how to help clients recognize the difference between income risk and portfolio volatility. 

Learning Objectives:

1. Understand the implications of lifetime income on portfolio risk in retirement.
   
2. Evaluate how optimal portfolios are affected by the amount of lifetime income within an overall household balance sheet.

Technology Tools for Today (T3) and Inside Information recently surveyed over 5,500 advisors about their use of technology. This session will discuss the most popular software in each of roughly 20 categories, advisor satisfaction with each product, as well as trends in financial software that attendees need to understand.

Learning Objectives:

1. Understand leading trends in advisor software. 
   
2. Learn what application your colleagues find the best in each category. 
   
3. Understand what software is essential for running a successful PFP business.

What's the best way to construct a portfolio for high net-worth clients? There's no one right answer. Because investors are subject to their unique circumstances, time horizons and tolerance for risk, every portfolio requires its own unique asset allocation. But it is possible to outline a successful approach.

Learning Objectives:

1. Discuss frameworks for successful approaches to portfolio construction
2. Apply frameworks to determine appropriate asset allocations based upon investment objectives and desired approach

Provisions in the Tax Cut and Jobs Act, compounded by a sustained period of low crediting rates, have thrust life insurance into the life settlement spotlight. Tax practitioners and other planners/advisors, that normally keep some life insurance issues at arm’s length, can now expect an increase in questions from their clients about life settlements. Here’s the good news: You don’t have to be a life insurance expert or hold a life insurance license in order to discuss life settlements with your clients.

1. IDENTIFY their clients in financial transition who may benefit from a life settlement.
   
2. INFORM their senior clients about the benefits of getting their life insurance policy appraised, using new SMV valuation methodology, prior to lapse, surrender, or transfer of their policy.
   
3. INCORPORATE life settlement best practices into their processes so that client best interests will be protected and potential liability/reputational risk for discussing life settlements will be mitigated.

Do you have clients who transact with cryptocurrencies? If so, you’ll want to attend this session! We’ll explore various tax compliance and planning opportunities you should consider when working with your clients. The only guidance we have from the IRS on virtual currencies (also referred to as cryptocurrencies) is Notice 2014-21. Limited guidance presents challenges for tax practitioners, but also allows for some interesting planning opportunities. In this session you will:

1. Gain an understanding of how the IRS treats cryptocurrencies.
   
2. Discuss compliance considerations to be aware of as a tax practitioner.
   
3. Determine tax planning strategies to use when working with clients who transact in cryptocurrencies.

Attend this session to hear real life example of how access to data and the transparency it brings can radically change an established business strategy. And the challenges the organization faces to accept it.

Learning Objectives:

1. Learn and recognize the power of Data + Basic Cost Accounting
2. Learn the impact of Data on the profitability view of entities

A dynamic duo – the Managing Partner and Firm Manager! When do you need a Firm Manager? Once you have the partnership in place, how do you work together most effectively to benefit the Firm? Who does what and how? Come learn from one firm’s story. You will gain insight on when to hire and how an effective relationship can propel your Firm forward.

Learning Objectives:

1. When to hire a Firm Manager?
   
2. How an effective partnership between the Managing Partner and Firm Manager can benefit and grow the Firm.
   

Learning is a vital part of developing, retaining and growing our firms. We will discuss how the changes around us are impacting how we learn and discuss ways to adapt. We will feature firms’ successes in this area.

Learning Objectives:

1. Review the science behind how we learn.
   
2. Discuss the impact of technology changes Identify ways to become a self-directed learner Describe best practices of learning.

To take or not to take responsibility...is this your question? Do you currently serve clients that meet the definition of a group audit under AU-C Section 600? The objective of this session is to understand the requirements of the group auditor and the component auditor whether within the United States or outside the United States. The session will also inform the participants of common issues related to communicating with other auditors and reporting between component and group auditors to approve audit efficiencies.

In this session, participants will:

1. Gain a better understanding of the requirements of AU-Section 600 - Special Considerations — Audits of Group Financial Statements (Including the Work of Component Auditors).
   
2. Become better equipped to identify common reporting and auditing issues related to using the work of component auditors.

This session will focus on the income tax accounting (ASC 740) and financial statement impacts of the Tax Cuts and Jobs Act of 2017. In addition to a refresher on the overall framework, the session will focus on areas of particular concern for corporations during the 2018 and 2019 reporting periods. The session will also briefly touch on tax considerations of ASC 606 (revenue recognition) and ASC 842 (lease accounting).

Attendees should leave with a better understanding and awareness of:

1. The ongoing financial statement implications of tax reform.
   
2. Potential pitfalls and problems areas relevant to 2018 and 2019 financial statements.
   
3. The income tax accounting implications of ASC 606 and ASC 842.

A thoughtfully constructed Investment Policy Statement can be the bedrock of your client relationship, allowing your client (and you!) to remain focused on an agreed-upon strategy and tactics during even the most trying of times. Why, then, is IPS often reduced to a compliance exercise, or just one more stack of papers that gathers dust in your clients' files? In this session, we'll explore the components of an IPS that help keep relationships on track, and discuss how to create, present, and refresh the IPS to be of maximum practical use. One size definitely doesn't fit all, but we'll consider a wide range of dimensions for potential inclusion, and explore how to be thorough without drowning your client in information. 

Learning Objectives:

1. Participants will understand the full range of dimensions underlying the strategy and tactics they employ on behalf of their client, and be able to discern which should be documented in an Investment Policy Statement for a particular client.
   
2. Participants will develop sensitivity to how the value of the Investment Policy Statement can be diminished in the absence of a communications strategy and a strategy to refresh and renew the IPS.

1. Expert insight into the financial challenges impacting American consumers today including student loan debt, retirement, insurance concerns, etc.
   
2. Understanding financial wellness and its impact.
   
3. Solutions to help address the most pressing financial challenges.

Objectives:

1. Understand the financial challenges individuals are facing today.
   
2. Learn about solutions that can help address the most pressing financial challenges facing American consumers.
   
3. Identify ways to help empower individuals to synthesize and reflect on one’s own financial profile and develop a personalized financial roadmap.

Our panel of technology experts will discuss and answer your questions about the impact of technology on firms today.

Topics for discussion include: 

Secure Document Sharing Apps, Remote Collaboration Apps, Document Scanning & File Management Apps, Multi-Factor Authentication, VPN apps and Hardware Security Module (HSM) enabled devices, Secure cloud hosting of office management systems, Digital Assistants - Technologies that Firms and CPA Professionals Need to Understand, Data Analytics Tools, Open Source Hyper-ledger Fabric Blockchain Tools, Security Incident and Event Management (SIEM) systems, Dynamic Automation (robotic process automation), Automated Asset Discovery, Data Loss Prevention (DLP), and Internet of Things (IoT) enabled devices.

Join this session to:

Discover technologies that firms and CPA professionals need to understand in order to enhance productivity and efficiency of firm operations.

After this session, you will be able to:

1. Identify legislative and regulatory tax developments.
   
2. Identify emerging tax policy and advocacy issues important to AICPA members.
   
3. Understand how to develop comment letters and position statements on important advocacy issues.

Would you believe that some professionals feel that if they make mistakes, it’ll be held against them? You probably do. Have you thought about what effect that has on the functioning of your team and your organization as a whole?

In this session, we explore the concept of failure and research behind the traits that contribute to the highest levels of team effectiveness. You'll walk away with ideas on how you can measure and create an environment that fosters peak team performance and healthy communication.

Learning Objectives:

1. Explore the concept of failure and how our current failure assumptions can reduce success.
   
2. Learn the key traits in team effectiveness.
   
3. Understand how to measure and build psychological safety, creating a Freedom to Fail environment.

The addition of Sec. 199A is perhaps one of the most significant changes and opportunities in the Tax Cuts and Jobs Act (TCJA). It is also very complicated from a compliance and planning standpoint. This session will provide a quick refresher of the basics, cover some of the compliance difficulties and provide forward-looking planning ideas. Specifically, this session will cover:

1. Sec. 199A for Real Estate
   
2. Sec. 199A for Insurance and Financial Planning Professionals
   
3. Understanding Separate vs. Separable for SSTBs
   
4. Sec. 199A with REITs and PTP
   

Learning Objectives:

1. Understand how Sec. 199A works for both traditional business and SSTBs.
   
2. Understand when a taxpayer can use separate and separable rules.

In a fast-changing world, how do you build a culture where extraordinary innovation becomes ordinary? A culture that lasts and consistently delivers exponential leaders, growth and value creation. The key ingredients to innovation acceleration are not what you see portrayed most often in the media. Great, enduring organizations know what it really takes to create and, most importantly, scale innovation. We will explore how to blend disciplined innovation methods with elements of venture capitalism, crowdsourcing and collaborative leadership to deliver rapid and sustainable business improvements and innovations in any industry. This high energy session will engage the audience in powerful collaborative leadership principles applied to business improvement and innovation. In the “Need for Speed” challenge, participants will collaborate to innovate in real time and “make the impossible, possible.”

Learning Objectives:

1. How to build a sustainable culture of Excellence & Innovation anywhere in the world. 
   
2. How to identify or develop highly engaged innovators and entrepreneurs in your organization. 
   
3. How to select, prioritize and accelerate high impact, innovation projects.

At a time when technology is automating much of the compliance function, globalization is delivering talent at pennies on the dollar, it is time for every CPA, not just the business development CPA, to do a better job of living up to our profession’s mantra of being our clients Most Trusted Business Advisor. It no longer is enough just to deliver information about the past. We need to help our clients consider their past, their trends, their key operating statistics and use that information to help them bridge their organization's and themselves into a better, more profitable and sustainable future. This session centers on augmenting and/or refining the skills required to effectively deliver future focused facilitative/advisory services.

Learning Objectives:

1. Learn how to move from being an Expert to an Advisor,
   
2. How to ask the kind of open-ended questions that promote the client expounding on issues beyond traditional accounting problems,
   
3. Improve your listening and communication skills,
   
4. Understand how to act in the role of your client’s general contractor, and much more.

As the baby boomers reach retirement, advisors must solve new problems for clients. Retirement income is different as clients shift their focus from maximizing wealth to creating sustainable income, clients face a greater range of risks, and clients increasingly must solve a lifetime problem which extends far beyond traditional investment theory. Key retirement risks include longevity risk, heighted market risk, and personal spending shock risks. Each risk requires different income tools and risk management techniques. Investments alone and insurance alone may not be adequate to build a comprehensive retirement income strategy. More efficient retirement income solutions can be obtained through careful efforts to combine investment portfolios, income annuities, and whole life insurance into an overall retirement income plan. 

Learning Objectives:

1. Understand how risks change in retirement.
   
2. Evaluate the roles of risk pooling and risk premium in building retirement income plans.

Family owned and operated businesses face unique challenges when preparing for and executing succession planning from one generation to the next. As family business owners contemplate passing the torch to the next generation, thoughtful preparation is key. The most successful businesses are proactive about identifying their future leaders and making an investment in their development. In this presentation, we will discuss current trends in succession planning, why it can be difficult to get started and best practices for engaging and preparing the next generation for increased responsibilities as part of a comprehensive approach to business transition planning. 

Learning Objectives:

1. Understand the unique opportunities and challenges faced by family business owners who are contemplating succession planning.
   
2. Provide best practices for engaging and preparing the next generation for increased responsibilities in the family business.

For many corporate professionals, salary and cash bonus is just part of the reward for work well done. Additional compensation can come in other forms: stock and option awards, contributions to a defined benefit pension plan, or an employer match to a defined contribution 401(k) plan. Some companies also allow employees to defer additional compensation to a non-qualified plan, which may be matched, too. These awards and plans offer attractive opportunities to build wealth based on a company’s success. However, a full compensation review often reveals that an employee is more exposed to the health of the company than she suspects. In our experience, it’s not uncommon to encounter executives who have more than half of their total portfolio tied up in company-related assets. Such concentrations make it essential to evaluate the risk/reward equations of each type of compensation or award. That’s because the building blocks of executive compensation— which include cash, stock, and options—each require a different set of decisions. For example, how much of one’s salary or bonus should be deferred into a company-sponsored investment program, and when should these funds be withdrawn? If one receives restricted stock, should all shares be sold upon vesting, or just enough shares to pay taxes and continue holding them? Options, which offer a leveraged investment in stock, present a different set of challenges due to their finite life span. Should one exercise vested options if the stock has appreciated or wait until expiration, risking that they might be worthless? To make these decisions, executives need to weigh each potential outcome—in an integrated way—since each decision impacts the others. Typically, executives are so focused on effectively stewarding their companies that they have little time to spare for their own financial planning. This presentation illustrates a framework to help executives take the guesswork out of compensation planning by suggesting how to manage various awards to ensure a high probability of realizing personal, charitable and legacy goals. 

Learning Objectives:

1. Understand how to calculate an executives' total exposure to his or her own company through the various types of options, grants and executive retirement plans.
   
2. Make recommendations of how much stock exposure to diversify and which forms of exposure (for example, options vs RSUs) to sell first.

Technology promises many benefits to today's planners—efficiency, growth, savings and even intelligence. But what about the human side of technology? Often the benefits of technology come at a human cost, primarily frustration, confusion and distraction. More technology, so the establishment believes, is better. But what if better were truly better? This session is a journey through compelling examples of organizations who have embraced the idea that better is better. And the results? By focusing on better technology—and not just more technology—they’re seeing bigger AND better results.

Learning Objective:

1. Discuss how planners can realize the benefits of technology without the downsides

The accounting profession continues to evolve and Engage is helping firms transform their practice for the future. In this session Mark Koziel and Erik Asgeirsson will pull from their vast experience interacting with the Association’s 40,000 plus firms and the profession’s technology influencers - on how services are changing and the opportunities that lie ahead.

In this session you will learn:

1. Current changes that are driving growth and opportunity in the traditional services of audit, tax and accounting services.
   
2. How small, medium and large firms can each adapt to a new way of doing things.
   
3. Current tools available to all firms in transforming their firm services.
   
4. How to leverage the Engage conference to build out these changing services.
   
5. Examples of firms that have already transformed for the future.

You’ll leave this session excited and energized about the opportunities that lie ahead for firms of all sizes.

What to do? What to buy? What to watch for? What to avoid? Get your answers in Tech update where you will learn about who offers reliable solutions and what is changing the market. Specific topics included in this session are: technology trends, recommended hardware specifications, applications and licensing, and security. This session provides concentrated exposure to technology that may reveal ideas, trends, and options that you had not discovered through your normal channels.

Learning objectives:

1. Describe an optimum computer configuration for an accounting professional.
   
2. Identify a new Microsoft product that covers licensing for desktop operating systems and Office.
3. Specify a business case data compliance.
   
4. List three protection tools to use while connected to the Internet.