AICPA ENGAGE 2019

This includes sessions from AICPA ENGAGE 2019:

• Advanced Accounting and Auditing 2019
• Advanced Estate Planning 2019
• Advanced Personal Financial Planning 2019
• Association for Accounting Marketing Summit 2019
• CPAFMA National Practice Management 2019
• EDGE Career Development 2019
• Finance Redefined Track 2019
• Practitioners Symposium and TECH+ Conference 2019
• Tax Strategies for the High-Income Individual 2019

Preview Available

(Repeated in ENG1936) A First Look at IRA Life Expectancy Payout Changes Under the "Secure Bill" and the Best Ideas So Far (PFP, EST, TAX)

Identification: PFP19001

In the biggest bill for retirement planning in years, Congress is poised to change the law for life expectancy payouts to either a five- or ten-year payout. This legislation has strong bipartisan support and is supported by the President.

Advisors, CPAs and lawyers will need to quickly pivot with innovative strategies for this new paradigm. If you wait until this bill is signed before beginning to pivot you will miss the 2019 planning opportunities. This class will cover:

1. Understanding the change in life expectancy payouts on traditional and Roth IRAs
2. Impact of the loss of deferral and bracket compression on wealth transfer planning
3. Using CRTs to maintain deferral and bracket management - the law and the math
4. Roth conversions for better bracket management and greater wealth transfer
5. Designing IRA trusts and the terrible payout result with RMD conduit trusts - the law and the math
6. Using IRA trusts in low tax states to achieve state tax savings by avoiding or delaying the state taxation of the lump sum payout
7. Using single life insurance to enhance bracket management - the unbiased math
8. Using Second-to-Die insurance to increase wealth transfer
9. Urgent action steps for ill and dying clients including avoiding conduit trusts and using out of state trusts.
10. Charitable strategies for the mass-affluent and the wealthy

• Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), Partner, Keebler and Associates, LLP

Preview Available

Intersection of Tax-Smart Investing & Wealth Management Planning, presented by HD Vest

Identification: PFP19SS01

It is a fundamental belief that every investment decision is also a tax decision. Retirement planning, investments, education planning, legacy planning, and life insurance are all parts of a wealth management plan that have tax consequences. As a CPA, helping clients make tax-smart investment decisions within wealth management plans can help revitalize both your practice and your client relationships while minimizing client tax liabilities.

Learning Objectives – Attendees will leave this session

1. Understanding the importance of integrating tax planning and wealth management planning into one comprehensive conversation with clients throughout the relationship.
   
2. Discovering that there are tools that can help advisors communicate the importance of tax-smart investment strategies to help clients make better decisions to minimize taxes as part of their wealth management plan.

• Duncan Gates, CFP, Senior Wealth Management Strategist, HD Vest Financial Services

Preview Available

Planning for the Non-Taxable Estate

Identification: EST1901

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.

• Paul S. Lee, J.D., LL.M. (Taxation), Global Fiduciary Strategist, Northern Trust Company

Preview Available

Trust, Value and Opportunity in Assurance

Identification: NAA1901

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

• Susan S. Coffey, CPA, CGMA, Chief Executive Officer - Public Accounting, Association of International Certified Professional Accountants

Preview Available

Economic Update Followed by the presentation of the Standing Ovation Award Winners

Identification: PFP1901

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.

• Dr. Anirban Basu, JD & PhD, Chairman and CEO, Sage Policy Group,Inc.

Preview Available

Basic Estate Planning Q&A

Identification: EST19ER02

• Missia H. Vaselaney, JD, CPA (inactive), Attorney, Taft Stettinius & Hollister, LLP
• Paige Goepfert, CPA, MST, CSEP, Managing Director, Andersen
• Gary A. Zwick, J.D., LL.M., CPA (inactive), AEP®, Attorney, Walter | Haverfield LLP

Preview Available

Protecting the Privacy of Critical Data (NAA, FIN)

Identification: NAA19ER01

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.

• Thomas Patterson, CPA (Inactive) CISA CGEIT CRISC, Managing Director, Security Assurance LLC

Preview Available

CECL Implementation

Identification: NAA19ER02

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.

• Barry Pelagatti, CPA, Partner, RKL LLP

Preview Available

Planning for Health Care Costs in Retirement

Identification: PFP19ER01

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.

• Jacklin Youssef, CFF, Enrolled Agent, MST, Senior Wealth Planner, Vanguard

Preview Available

Alternative Fee Structures

Identification: PFP19ER02

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.

• Matthew Jackson, CFA, Principal, Dialektic