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October 30, 2012
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  Top Story 
  • Investors to rethink financial plans after election
    Affluent investors feel confident they have amassed enough cash holdings and plan to increase investments after the election, according to a UBS survey. Nearly half of high-net-worth investors say they will revisit their financial plans once the election is over. Visit for FREE resources to help you get financial plans in place for your clients now, so you are ready to trigger when there is more certainty after the election. AdvisorOne (10/26) LinkedInFacebookTwitterEmail this Story
  Industry News and Trends 
  • How the 2012 presidential election will affect the CPA profession
    This presidential election is key given the number of important issues that will affect the CPA profession, writes Barry C. Melancon, CPA, CGMA, president and CEO of the AICPA. These issues include how to deal with the "fiscal cliff," tax reform, changes in some of the top regulatory posts and policies to help small businesses. "All told, the range of issues before us underscores the impact of regulations on our profession. It also demonstrates the need for more CPAs to get involved in the process," Melancon writes. AICPA Insights (10/29) LinkedInFacebookTwitterEmail this Story

  • Business won't improve no matter who wins U.S. election, execs say
    The outcome of the U.S. presidential election won't have a significant effect on business conditions, according to 63% of executives responding to a survey at the annual conference of the Association for Financial Professionals. About 54% of CPA executives responding to another survey said the highly politicized atmosphere in Washington, D.C., won't improve after the election. (10/25) LinkedInFacebookTwitterEmail this Story
  • Gross: Next president will spend much time dealing with "fiscal cliff"
    The current economic problems will continue no matter who wins the presidential election, says Pacific Investment Management Co.'s Bill Gross. "It means lower growth. The structural issues are really related to an excessive amount of debt, an excessive amount of leverage that's been built up over 10 or 20 years," Gross said. InvestmentNews (free registration) (10/25) LinkedInFacebookTwitterEmail this Story
  • Other News
Another Arrow in the Quiver.
Publicly traded REITs represent a potential opportunity for investors. ClearBridge Advisors discusses the opportunity in their recent whitepaper.
  Estate & Elder Planning 
  Retirement, Investment & Insurance Planning 
  • Report examines election's potential effect on health care stocks
    Regardless of who wins the election, health care sector and related stocks could be severely affected by a budget sequestration and the failure to prevent automatic cuts to Medicare provider rates, according to a Morningstar report. Meanwhile, analysts predict that no matter the outcome of the November election, the new health care law is likely to stay in place. AdvisorOne (10/26) LinkedInFacebookTwitterEmail this Story
  • Other News
  Tax Topix 
  • Tax consequences of political contributions
    With the election near, political contributions are reaching record levels as politicians and political action committees seek to sway voters. Donors don't usually consider the tax or legal ramifications of their contributions -- but there are several important issues they should be aware of. Blake Christian, CPA, lays out the tax consequences so practitioners can advise their clients who make political donations. Corporate Taxation Insider (10/25) LinkedInFacebookTwitterEmail this Story
  You and Your Practice 
  • Final reminder! Free webinar: PFP Power Hour
    Join the AICPA PFP division for the next free quarterly issues update at 3 to 4 p.m. ET on Nov. 1. AICPA PFP division staff will be joined by incoming PFP Executive Committee Chair, Lyle Benson, and incoming PFS Credential Committee Chair, Dan Thomas. Don't miss insights from leaders in the profession, year-end planning opportunities and resources, a preview of the January Advanced PFP Conference and news from the PFP Division. Attendees will be able to submit questions via an interactive Q&A panel. This web seminar is free to all. No CPE offered. Register now. LinkedInFacebookTwitterEmail this Story

  • Final reminder! Webinar: Expanding the Framework of Safe Withdrawal Rates
    On Nov. 6 from 1 to 2:30 p.m. ET, Michael Kitces will lead practitioners through an exploration of safe withdrawal rates -- including how research in this area has expanded in the past 20 years and ways that a safe withdrawal rate recommendation can be customized to an individual client situation. This webinar is free for PFP Section members, inclusive of PFS credential holders without optional CPE or discounted CPE for purchase for PFP/PFS and Tax Section members. This seminar is available for purchase to all. Register now. Not a PFP member? Join the PFP Section today and receive four free hours of CPE and save $50 on your first year of membership when you enter promo code CPALDPFP at checkout. LinkedInFacebookTwitterEmail this Story

  • Free through year-end: Forefield Advisor and Proactive Planning in Preparation for 2013 Toolkit
    The AICPA Personal Financial Planning Division is sharing two of its most popular tools (Forefield Advisor and the Proactive Planning in Preparation for 2013 Toolkit) at no charge until Dec. 31 to help you educate and plan for your clients now. With so many unknowns in 2013 compounded by an election year, 2012 presents an unprecedented opportunity for you to differentiate your firm and services. If changes in tax rates and estate, gift and GST exemptions are known prior to year-end, a plan needs to be in place to trigger in order to ensure that no opportunities are missed. If tax cuts and current estate, gift and GST exemptions are extended, at some point in the near future, change will occur and a plan needs to be in place to be ready to act when appropriate. To access these tools, go to If you are a PFP Section member or CPA/PFS credential holder, you already have access to these resources as part of your membership. LinkedInFacebookTwitterEmail this Story
  • Resources for CPAs involved with disaster recovery
    When disaster strikes, such as Hurricane Sandy, CPAs may be looked to for assistance by those in need. The assistance can come in the form of volunteering at a local American Red Cross or joining a firm's or company's efforts, or helping friends, family and clients overcome the burden of administrative work. CPAs can be the trusted adviser and offer sound, unbiased advice to victims to help them get to the right people. The PFP Division has compiled a number of free resources that CPAs can use in a time of disaster to help those in need. For more information, visit our Disaster Financial Issues web page. In addition, read an AICPA Q&A on personal financial issues arising from a disaster with Eric Rigby, CPA/PFS/CFF and member of the PFP Executive Committee. LinkedInFacebookTwitterEmail this Story
Learn more about PFPAbout the PFP Section  |  Join the PFP Section  |  About the PFS Credential
Become a PFS Credential Holder  |  Forefield Advisor Client Communication Tool
AICPA Advanced Personal Financial Planning Conference  |  Fox Financial Planning Network for CPAs

Confusion is a word we have invented for an order which is not understood."
--Henry Miller,
American writer and painter

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About the PFP Section
The AICPA's Personal Financial Planning Section is the premier provider of information, tools, advocacy and guidance for CPAs who specialize in providing estate, tax, retirement, risk management and investment planning and advice to their individuals and closely held entities. The PFP Section’s primary objective is to support its members by providing resources that enable them to perform valuable personal financial planning services in the highest professional manner. Members of this section broaden their technical expertise, improve their professional competence and receive resources to deliver high-quality, profitable PFP services. All AICPA members, generally, are eligible to join the PFP Section.
About the PFS Credential
The Personal Financial Specialist credential distinguishes CPAs as having demonstrated that they have the subject matter expertise and experience necessary to deliver financial planning services of the highest, as well as the CPA's traditional hallmarks of uncompromising objectivity, integrity and adherence to the AICPA's Code of Professional Conduct. CPA/PFS credential holders demonstrate their expertise through financial planning education, experience and testing.

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