This session will be a review of the most recent cases, rulings, and tax code changes that impact estate, gift and generation-skipping tax matters, and income taxation of trusts. 

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.

As we enter the third quarter, the economic landscape is dominated by two surges – a fiscal surge and a vaccination surge. In combination, these surges should lead to much stronger economic growth and higher inflation. A key question for investors, however, is whether this will fuel a continued back up in long-term interest rates or a market correction in areas of the markets that look frothy. As the pandemic winds down, investors will likely once again focus on longer-term issues such as sustainable investing and the relentless growth of the Chinese economy and capital markets.

The tax environment is fluid and what will occur is uncertain. This session will be updated up until the date of the program to provide practitioners with practical, actionable, tax planning advice that can be given to clients. Depending on the status of tax legislation current proposals and what to do in light of them will be reviewed. If there is actual legislation that will be discussed. in all events the focus will be on specific planning you can guide clients with.

The session provides information essential to all peer reviewers, including an update on the Enhanced Audit Quality (EAQ) initiative, as well as a high-level overview of changes to Peer Review standards and guidance.

The consideration of going concern has received increased emphasis in recent years with new requirements and also the effects of COVID-19. In this up-tempo presentation, learn effective thought processes to effectively address conditions and events that raise substantial doubt about an entity's ability to continue as a going concern. 

The session will be an interactive discussion with the Chair of the Accounting and Review Services Committee(ARSC) and the AICPA staff liaison to the ARSC covering recent activities of the ARSC, performance and reporting requirements and best practices for reviews, compilations and financial statement preparation engagements performed in accordance with Statements on Standards for Accounting and Review Services (SSARSs).

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The year 2020 was unlike any other - requiring each of us to quickly pivot and transform virtually all aspects of our personal and professional lives. Working from home, video meetings and the elimination of business travel became the "new normal" in just a few day's times. But these significant changes also presented tremendous opportunity for innovation and digital transformation. Join Inspector Gadget has he examines the latest technology developments and products supporting these rapid changes. Topics will include blockchain, machine learning/AI, 5G, big data, cloud, quantum computing and more! This session will also uniquely examine the impact of these technologies on A&A. Technology has never been more critical and impactful than it is today. Make certain you have the essential details you need to navigate your next steps.

Join Gerontologist, professional coach and life stage expert, Barbara Waxman, as she shares valuable insights that will turn everything you think about midlife on its head. During this interactive presentation you'll learn why this isn't your parents' midlife, why retirement as we know it is ready to be retired, and what specific tools and questions you can use to better serve your clients. Barbara will distill decades of research to help you develop insights into just how the aging of America and demographics of the 21st century have changed the way successful financial professionals think about their work.

This session will cover case studies, descriptions and explanations of effective and practical estate planning techniques to not only save estate taxes, but also to protect clients and their heirs from future estate taxes, divorce and creditors at the same time. 

This session will also show you how to structure basic estate documents, uses of GRATs, sales to grantor trusts, preferred partnership freezes and the like. 

AICPA works hard for its members. This session will show what projects the TRP is advocating for in the estate and trust area. Contacts with IRS and tax writing groups are emphasized.

Insurance products such as life insurance and annuities can provide tax advantaged investment returns. This presentation will explain the basics of insurance taxation, understanding basic annuity and life product structures, and the mathematics of net returns on assets subject to taxes on growth above basis. Topics include optimal location of financial assets within insurance products and assessing the value of mature insurance policies.

Topics included in this discussion will be a macro fixed income overview, along with the implications for interest rates and where we are seeing opportunities in a low rate environment.

A truth has emerged: growth begins with behavior. The idea that growth begins with behavior should be no stranger to leaders of professional service, including advisory firm owners. While a focus on behavior has always been present, today there is a major trend within wealth management to help investors focus on their behavior and to shed light on how their actions and attitudes affect their retirement and financial goals. And yet, focusing on behavior is often the last place firm owners think to look when analyzing their own revenue and profit growth. In this session, you will learn the behaviors that are holding back growth, how to look at them differently, and how to overcome them to grow exponentially.

In this session, we will explore what it looks like to work with the ever growing segment of clients experiencing diminished capacity.  We will discuss how our current regulatory environment impacts the way we do business, and what tools and best practices we can implement not only to protect our businesses but to best serve our clients and families.

The Association (unified voice of AICPA & CIMA) and CPA.com launched a shark-tank style startup accelerator four years ago with a focus on FinTech and EdTech solutions. Its purpose is to foster innovation and bring emerging technologies to the accounting profession. Investment into new technologies and solutions is critical for not only staying ahead of the curve, but providing client-centric service. In this session, you will hear about trends in FinTech developments and see the  startup companies that make up the 2021 cohort. These solutions have a leading role in a diverse range of categories including: crypto-asset management, financial impacts of climate change, accounting task automation and cash flow management.

This discussion will address current issues and trends in the transfer tax controversy arena at the audit level, appeals and in litigation. It will include issues related to the valuation and transfer of interests in closely-held entities, the use of formula clauses, recent caselaw, positions taken by the IRS and ways to address them at the planning level.

Gift tax returns when filed with "adequate disclosure" provide a golden opportunity reduce audit issues and exposure on a federal estate tax return and most likely avoid later-life surprises for increases in gift tax liability. The session provides examples for effective gift tax reporting in addition to review of the applicable law and rules. After reviewing the demands and importance of adequate disclosure, this session will review practical return preparation preliminary actions; how Schedule A of the Form 709 integrates with GST reporting; fixed-dollar formula gift disclosures;  engagement agreements with appraisers; informing the appraiser what to value; reporting GRATs; reporting transfers subject to ETIPs and when the ETIP ends; and reporting with Crummey gifts, among other topics. 

Session is intended to provide education on structuring and implementing public equity portfolios, including a case study with considerations and outcomes.

With more than 500 different profession-specific software products to choose from in at least 30 different categories, building your tech stack is more complicated than ever. Join a panel of tech experts and business consultants as they survey the landscape and provide guidance on your selection process and what to look for in the CPA planner’s tech future.

Life insurance enjoys similar income tax characteristics as Roth IRAs. Premiums are paid into the policy after tax, earnings in the cash value, and withdrawals therefrom or loans thereagainst, are not includible in the policy owner’s gross income (if the policy is designed and managed properly), and death benefit proceeds are generally not includible the beneficiary’s gross income. For many high-income-earner taxpayers cannot qualify for Roth IRAs, or may be limited with how much can be contributed to a Roth 401(k), cash value life insurance can be a powerful Roth-alternative wealth accumulation strategy. For those with large traditional IRAs not needed for retirement income, cash value life insurance can also be a powerful wealth transfer strategy when distributions from the IRA are used to fund premiums. This session will examine how cash value life insurance can act as an “unlimited Roth IRA” for high earners to grow wealth, including a detailed analysis of the effect of policy charges on cash value accumulation compared to investing in a portfolio of traditional taxable investments, as well as an effective wealth transfer strategy to help control the damage caused by the SECURE Act on traditional IRAs.

Inclusion is often described as a Human Resources initiative along with Diversity and Culture. However, it is also a strategic business imperative that can lead to firm growth, increased clients, higher team retention and innovative offerings.

With the current, high estate tax exemption, many practitioners believe “generation skipping” tax planning (keeping inherited assets out of the taxable estates of children) is no longer needed for most clients, just for very large estates. However, the estate tax exemption could be frozen or even reduced after the 2020 election. Even if this doesn’t happen, many married couples will likely underutilize the “generation skipping tax” (“GST”) exemption because it isn’t subject to portability. And keep in mind that inherited estates may grow during a child’s lifetime because, even in moderate-sized parental estates, trusts are often being set up for children, e.g., asset protection, divorce, blood-line distribution control or income tax reasons.

The reality is, because of changes in the tax code, GST planning is appropriate in lots of estates when it wouldn’t have been not too long ago. But, this raises an important question: are you up to speed on the complicated GST rules and can you properly apply them?

Join Bob Keebler to learn how to utilize the GST rules to maximum advantage for your clients. Here are just a few of the topics Bob will cover in this content-packed session:

· Who are “skip persons” versus “non-skip persons”
· What are “direct skips” versus “indirect skips”
· The difference between the annual GST exclusion and life GST exemption amounts?
· The automatic allocation rules?
· When do you allocate the lifetime GST exemption amount to “indirect skips”?
· How does late allocation of the lifetime GST exemption amount work?
· How do you calculate the “inclusion ratio”?
· How to split trusts into GST and non-GST shares via “qualified severance”?

The presentation is about recent developments regarding federal estate and gift taxes. We will review general procedural and substantive updates regarding estate and gift taxation, including changes in the law that impact the filing of estate and gift tax returns. 

This session will cover cross-border estate, gift and trust issues and the reporting requirements associated with those issues. 

The beginning of 2021 ushered in a new U.S President and a change of control in the U.S Senate. In this session, we will explore what President Joe Biden has detailed as his proposed tax plan, the focus primarily on individual income tax, estate tax and investment taxation. This program will take a holistic look at the proposed platform, and attendees will learn about the major changes outlined by President Biden, exploring both the new challenges, and planning opportunities, it creates.

Behavioral Finance Advice with Magic bridges the gap in traditional finance that assumes people are rational. Because most people are irrational, it combines traditional finance with the science behind how our brains work and the psychology of why we make the decisions we do.

After this session, you will be able to help your clients:

This session will address the challenges of estate planning in 2021. Have new laws been proposed or passed? How should practitioners respond? What techniques should be recommended now? Which techniques are best to use in a low interest rate environment? Are different techniques best recommended for clients at different levels of wealth? These and related issues will be discussed.

The reality of the of long term care planning for today’s mass affluent client has changed for the positive. Longevity, lifestyle and legacy are why the subject must be considered.

The financial and non-financial consequences that providing care brings will result in difficult decisions and compromise family dynamics. This is especially true for the sandwich generation, blended families, divorce, and growing solo aging population.

The desire for control about how, where and who provides care is front and center in a Covid world.

An increase in chronic conditions for aging such as Alzheimer’s, Parkinson’s, and Covid long-haulers demands proactive LTC planning. Reduced government programs and increased costs for retirement lifestyle make LTC planning valuable, if not critical.

We will compare the new planning solutions in the marketplace. Hybrid polices, Joint and Second to Die LTC solutions and Life and Annuities with Riders. A discussion of the differences in LTC riders, and a focus on the sweet spots for planning given health and family history will highlight opportunistic planning windows.

An analysis of “self- insuring “will solve for the true cost of self-funding for the mass affluent and HNW clients. Financing, gifting options, ILITs, tax incentives and 1035 exchanges in LTC planning are unique and opportunistic planning tools that will be addressed.

Lastly, why the broker you ultimately work with matters - for successful client outcomes and at policy execution.

Today, cloud accounting has taken over as the preferred method for accountants and auditors to do their jobs easier, faster, and smarter than ever before and application programming interfaces (APIs) are proving to be a key piece in the future of the profession. In this session we will review how APIs within GoSystem Tax, GoFileRoom and FirmFlow can automate the tax workflow process.

Join Thomson Reuters expert, Calvin Leong, and explore:

• What APIs are (terminology and use cases)

• Benefits and advantages of using APIs in your firm

• Review of GoSystem APIs

• Review of GoFileRoom APIs

• Review of FirmFlow APIs

• Implementation and getting started.

46 million Americans now own bitcoin. Yet, only a few tax professionals understand how to help individuals and businesses dealing with cryptocurrency. This session walks you through the tax implications of common cryptocurrency-related transactions and how to successfully service clients affiliated with cryptocurrency. We will also cover current developments surrounding this topic, such as the inclusion of the virtual currency question on the front of Form 1040, how to successfully navigate through tax notices (CP2000, Letter 6173, Letter 6174 & Letter 6174-A), and tax planning opportunities. 

As a profession, CPAs are at the tipping point of fully harnessing artificial intelligence, RPA, and analytics with ease. The market has accepted that these technologies will impact every function a CPA is already performing - audits, reviews, transaction services, risk advisory, fraud, and controls management. Firms and enterprises alike are investing in technology and skill development, while preparing for massive transformation. In addition, CPAs, with their technical mindset, commitment to continuous professional development, and close affinity to critical business data, are well positioned to deliver value using these technologies.

But technologies like AI, RPA, or analytics in-and-of-itself have a hard time standing on their own - in fact, 70% of transformation projects fail. BCG partner Sylvain Duranton says the real formula for success is: Algorithms (10%) + Technology (20%) + People & Process (70%). Is this the magic needed to create the AI-powered human, where judgement is greatly enhanced by technology?

Join to learn from our insights over the past 5 years, and how to get your team ready for the shift to becoming a technology-powered firm.

CPACharge was specifically designed to give CPAs and accounting professionals a simple and secure way to accept client payments online. Plus, there are no long-term contracts, setup fees, or cancellation fees. Watch our quick demo and see why over 150,000 professionals trust us to help them get paid faster and more reliably.

Streamline your firm by keeping your team organized, increasing your ROI, and creating a connected client experience. The future of accounting software starts with a secure cloud-based platform that offers client management, document management, workflow, time and billing solutions, and mobile apps all in one platform.

The Personal Financial Specialist credential is the only CPA-exclusive financial planning credential that builds on your CPA foundation.  As a CPA working with individuals and families, its only natural that topics like tax, estate, retirement, investment, and risk management planning (and much more) are a part of your client relationships.  They trust your objectivity, integrity, and professional competence as you seek out answers and recommendations for them.  Learn how this valuable experience working with clients can streamline the process to obtain the CPA/PFS credential. 

Join Dave Stolz, CPA/PFS & chair of the PFS Credential Committee, and Dan Snyder, CPA/PFS & director of AICPA's PFP Division as they explain the program and answer your questions.

Join a live webinar with experts from SAP Concur to share insights on how some companies are using best-in-class data processes to drive productivity and even profitability in the current economy.

Join us to hear the lessons learned and career strategies of amazing leaders who just happen to be female. Learn from their stories of perseverance, success and also challenges to enhance your own career. 

Knowing what we excel at and what we are weaker in is not failure - that kind of honesty can be the make-or-break information that we use to find our best work as leaders. As CPAs, we know the return of a tangible investment. Intangible investments - emotional, leadership, energy investment - are just as valuable to success and profitability. How can we know if the return on our energy (ROE, for short) is directly impacting our return on investment? ROE (Return on Energy) is the secret ingredient in accomplishing your most important work. Reaching your professional goals while managing your personal life is a juggling act, balancing the pull of work, family and self. This workshop will address the juggling act by managing your energy to attain more career impact and life fulfillment. 

Disabilities don't discriminate. Families of great means have children and other beneficiaries with disabilities at the same rate as families of modest means. Addressing the myriad needs of a person with a disability (PWD) requires a comprehensive Special Needs Financial Plan (SNFP). The SNFP is built upon a network of Special Needs Trusts (SNTs), each of which is designed to be funded with different types of assets, at different times, from different sources. Identifying and engaging a family's "team" of allied professionals is a critical first step in developing the funding formula for the network of SNTs. Although a SNFP will maximize the use of a family's private wealth and resources, it must also be compatible with maintaining the eligibility of the PWD for government benefits that are the sole gateway to accessing beneficial programs and services that are not available on a private pay basis.

This session will cover residency for income and transfer tax purposes, and discuss six issues including: revocable trusts and companies tainted by U.S. situated assets under section 2104(b), section 684 planning, section 2801 gifts and bequests from covered expatriates, planning for non-U.S. parents with U.S. beneficiaries, UNI, and CFC and PFIC related issues.

We will discuss the issues that can arise with long term trusts, review the tools available to modify irrevocable trusts, and offer advise on advising clients on modifications. 

An imperative for CFOs in the post-pandemic landscape is that they position themselves and the finance function as co-creators of enterprise value. CFOs need to take an active role in transforming themselves and the Finance function from their traditional role of financial reporting, compliance, and decision support to actively driving strategy and execution. This requires skills and competencies that are beyond the traditional skill sets of the 20th Century CFO. 

In this session, we will talk about the necessity of upgrading leadership skills and more intentional development of future leaders to meet the demands of the Next New Normal. The new normal will be a hybrid of people working from home which will require enhanced leadership. 

The Auditing Standards Board (ASB) Chair and AICPA Chief Auditor will discuss recently issued standards for audits and attestation engagements. The discussion will also include the ASB's active agendas including ongoing efforts to modernize auditing and attestation standards, enhance ASB 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: Revise the quality control standards, revise the risk assessment standard, make narrow revisions to auditor communications regarding NOCLAR, and converge efforts on group audits.

The traditional approach to liquidations in retirement is very straightforward: spend taxable dollars first, and let tax-deferred retirement accounts keep growing, because "no one" wants to pay taxes any sooner than they have to! Except the reality is that there really is such thing as "too much" tax-deferred compounding growth, which makes future retirement distributions so large it drives the retiree into higher tax brackets and results in less wealth! In this session, we explore a more effective tax-efficient withdrawal approach of equalizing tax brackets throughout life, by mixing together taxable, tax-deferred, and tax-free accounts over time, and leveraging strategies like systematic partial Roth conversions and even capital gains harvesting to smooth out tax brackets from year to year and reduce cumulative taxation throughout retirement!

How many times have we said, “If only I knew, I would have planned better?” Insurance is often thought of as an “expensive” way to transfer risk…until a disaster event occurs! Wouldn’t it be great to share a “best practice checklist” with your clients to identify the risks they should consider transferring at each major stage in life? For example, shouldn’t every 30-something first parent buy some term insurance? And how about an umbrella policy to protect the family fortune from the teen driver? What about the client who is facing staggering bills to keep mom who has dementia in quality care? Our expert panel will share in rapid-fire their best tips in the area of life, long-term care, property, and casualty that are immediately actionable for your clients. Remember, financial planning includes risk management so even if you are not an insurance expert you need to point out the “holes” in the plan and guide your client to take action!