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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.
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.
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.
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.
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.
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.
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.
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.
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!