PFP Association News


New Repair Regs Resources

Financial Planning Digest | Feb 26, 2015

On Feb. 13, the IRS released Rev. Proc. 2015-20. The much-anticipated revision permits small businesses to change a method of accounting on a prospective basis and avoid completing and filing a Form 3115. To ensure that the AICPA is providing its members with the most reliable information, we have updated our Tangible Property Resources webpage, which contains sample 3115 resources (for applicable businesses) such as a repair regs flowchart, a sample client letter, an overview of the tangible property regulations, links to current and previous regulations, and more. Most resources on this page are open to all AICPA members.


Advanced PFP Conference Video/Audio Recordings and Materials Available

Financial Planning Digest | Feb 26, 2015

Video and audio recordings, as well as presentation materials, from the 2015 Advanced Personal Financial Planning Conference are available from AICPA Conferences. Registered conference attendees have complimentary access when they log in to the site (see instructions on how to access the materials), while others can create an account to purchase recordings and presentation materials. Registration is now open for the 2016 conference, January 18-20 at the Bellagio, Las Vegas or online. PFP/PFS members save an additional $100 on the early bird AICPA member price.


Nominations for Sidney Kess Award for Excellence in Continuing Education

Financial Planning Digest | Feb 23, 2015

The Sidney Kess Award for Excellence in Continuing Education is designed to recognize an individual who has made significant and outstanding contributions in tax and financial planning continuing education and whose integrity and public service exemplify the AICPA's values and vision. Nominations are solicited by the Conference Steering Committee and accepted between May 31 - March 15, and the Committee determines the recipient of the Award. For eligibility and nomination criteria, please email conferencesteam@aicpa.org with the subject line of Sidney Kess Award.


"Repair regs" webcast and resources

Financial Planning Digest | Feb 23, 2015

This webcast, taking place on Feb. 24 at 1 p.m. ET, will focus on the new theory and rules behind the tangible property regulations. A webcast exploring how and when to file Form 3115 will take place the following day. CPE for these webcasts is discounted for AICPA members. Visit the AICPA's Tangible Property Resources page for the latest information and resources.


Tax Season Resources From the AICPA PFP Division

Financial Planning Digest | Feb 19, 2015

The PFP Section understands your time and attention are limited -- so we wanted to alert you to resources available at aicpa.org/PFP/TaxSeason designed to support you as you approach April 15 and in meeting your clients' financial planning needs. These resources include free checklists, excerpts from popular guides, FAQs, client communication content and more. Join the PFP Section and save $50 on your first year of membership when you enter promocode CPALDPFP at checkout.


Podcast Series Highlights Major Points in President Obama's 2016 Budget Proposal

Financial Planning Digest | Feb 19, 2015

In this three-part podcast series from the PFP Section, Bob Keebler discusses President Barack Obama's 2016 budget proposal released on Feb. 2, 2015, which lays out changes to the gift and estate tax, IRAs and qualified plans, and income taxation of wealthy Americans.


Free Checklist: Tax Return for PFP Checklist

Financial Planning Digest | Feb 12, 2015

Use this checklist from the AICPA Personal Financial Planning Section and created by expert CPA financial planners to identify financial planning opportunities in your tax practice. The checklist will help you analyze and identify key issues to consider as you prepare, review, and discuss your individual tax returns with your clients. Learn more about resources from the AICPA PFP Section. Join the PFP Section and save $50 on your first year of membership when you enter promocode CPALDPFP at checkout.


Updated FAQs now available for AICPA PFP Standard

Financial Planning Digest | Feb 12, 2015

Answers to new frequently asked questions about the Statement on Standards in PFP Services, including new advice on applicability of the standards, documentation and disclosure, and tax planning services, are now available as part of the Compliance Toolkit. This document provides nonauthoritative guidance to assist with compliance and may be used in conjunction with the standard. Thank you to our members for providing us with an opportunity to clarify the requirements of the standard. We invite you to submit questions and feedback to Sarah Bradley at financialplanning@aicpa.org.


Free Checklist: Personal Financial Outlook

Financial Planning Digest | Feb 09, 2015

The Personal Financial Outlook from the AICPA Personal Financial Planning Section can be used as a starting point to get clients engaged in understanding their personal financial planning needs by having them answer whether they have taken proper action in key areas of planning. This will help you summarize your client's financial situation and identify important issues and opportunities for planning. It covers a broad range of planning needs, including estate planning, investing, risk management, spending, goals, life changes and more. Include this checklist in your tax organizers or have new clients fill it out prior to working on a planning engagement.


Apply to Volunteer on a PFP Committee by May 15

Financial Planning Digest | Feb 09, 2015

The AICPA has over 100 volunteers who serve on the various Personal Financial Planning committees and task forces, including the PFP Executive Committee and PFS Credential Committee. If you are interested in participating on a committee or task force, please log on to volunteer central at volunteers.aicpa.org and complete the volunteer application. Please make sure to load a resume or CV when you complete the application.


February Inside Information

Financial Planning Digest | Feb 05, 2015

The February 2015 edition of Inside Information* covers dimensions of risk, your CRM buyer's guide, useful apps for your practice, best planning ideas from the AICPA PFP Conference, and what to watch for this year. *Access to Inside Information is a benefit of PFP/PFS membership, which is an individual membership. If your colleagues would like access to this newsletter service, they can either purchase directly from Bob Veres or sign up for PFP membership.


Nominate a star young CPA personal financial planner for a Standing Ovation

Financial Planning Digest | Feb 05, 2015

The AICPA's Standing Ovation Program recognizes young CPAs in personal financial planning who exhibit exemplary professional achievement. Recipients will be recognized with a press release, on the PFP Section website, in the Advanced PFP Conference brochure, and at the conference. Nominees must hold an active CPA license and the CPA/PFS credential, be AICPA members in good standing, and be age 40 or younger. Partners or managers are encouraged to submit applications on behalf of nominees, but applicants are also permitted to self-nominate with a letter of recommendation from a partner or manager. Apply today!


Thursday: First Quarter Sophisticated Tax and Investment Planning Strategies

Financial Planning Digest | Feb 02, 2015

Timing is important when looking for ways to help clients reduce taxes and save more for retirement. Beginning-of-the-year tax strategies are valuable and underutilized. In this webcast with Bob Keebler and Bob Gordon, to be held from 2-3:45 p.m. ET Feb. 5, you'll learn to add value by timing retirement plan contributions, Roth conversions, and the exercise of incentive stock options. This webcast is free for PFP/PFS members without optional CPE (see your PFP News for a registration link) or for purchase with discounted CPE for PFP/PFS, Tax Section, and PCPS members.


Press release for 2015 PFP conference attendees now available

Financial Planning Digest | Feb 02, 2015

AICPA Media Relations has drafted a press release template that PFP conference attendees can customize and submit to clients and local media outlets. Use this opportunity to increase local awareness of your expertise as a CPA financial planner or CPA Personal Financial Specialist (CPA/PFS). The template is posted in the respective CPA financial planner and CPA/PFS Business Development Toolkits.


AICPA Seeks Nominations for Distinguished Achievement in Accounting Education Award

Financial Planning Digest | Jan 29, 2015

The AICPA Distinguished Achievement in Accounting Education Award recognizes full-time college accounting educators distinguished for excellence in teaching and for national prominence in the accounting profession. The award has a dual function: to extend recipients' recognition throughout the profession and to promote role models in academia. State CPA societies and individuals may submit nominations for the annual award to Steve Matzke (smatzke@aicpa.org). Self-nominations are not accepted. Nominations are due by 11:59 p.m. ET March 2, 2015.


Feb. 5: First Quarter Sophisticated Tax and Investment Planning Strategies

Financial Planning Digest | Jan 29, 2015

Timing is important when looking for ways to help clients reduce taxes and save more for retirement. Beginning-of-the-year tax strategies are valuable and underutilized. In this webcast with Bob Keebler and Bob Gordon, to be held from 2-3:45 p.m. ET Feb. 5, you'll learn to add value by timing retirement plan contributions, Roth conversions, and the exercise of incentive stock options. This webcast is free for PFP/PFS members without optional CPE (see your PFP News for a registration link) or for purchase with discounted CPE for PFP/PFS, Tax Section, and PCPS members.




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Designed specifically for CPA personal financial planners and others interested in financial planning, Financial Planning Digest is a FREE monthly e-mail newsletter from the AICPA. It provides the most important and timely news stories to support personal financial planners. Learn more