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| Industry News and Trends | | |
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| Retirement, Investment & Insurance Planning | | |
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- Proposed 401(k) changes could spell disaster
According to the Employee Benefits Research Institute, a plan to make retirement-plan contributions from employers and employees nondeductible would have negative effects and could cause some to close accounts. The proposal includes an 18% refundable tax credit as a federal matching contribution. AdvisorOne
(3/21)     
- How much income will your clients need to replace in retirement?
Some financial advisers have challenged the rule of thumb that clients need to replace about 70% of their income during retirement. However, upon closer analysis, the rule appears to be remarkably accurate, Michael Kitces writes. In fact, some clients may need to replace far less than 70%, depending on how much their spending, saving, and tax levels fall after retirement. Nerd's Eye View blog
(3/21)
| Tax Topix | | |
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- A guide to the sometimes murky issues of tax ethics
When it comes to tax ethics, CPAs have to make their own decisions, CPA Edward Karl writes. The decision whether to take action in response to a client or CPA's misconduct is an individual one. However, the professional rules of conduct can provide a starting point. "First make sure you know what the guidance says," Karl writes. AICPA Insights
(3/21)
- How to maximize the tax effects of charitable giving
The tax benefits for charitable giving could change in 2013, says Susan Colpitts, executive vice president and co-founder of wealth-management firm Signature. "Some of the discussion involves itemized deduction changes, limiting charitable deductions to 28% deductibility, getting rid of other deductions. All bets are off in terms of what kinds of deals might be struck in this volatile political environment," she says. With possible changes in mind, Colpitts details charitable-giving strategies in 2012. AdvisorOne
(3/23)
| You and Your Practice | | |
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- How to get potential clients to come to you
Dan Richards offers some tips for getting prospects to respond to your marketing. The two biggest challenges to overcome are prospects' limited time and their reluctance to attend an unknown event. Solutions include partnering with professionals who are trusted sources of information and zeroing in on the issues that will resonate with your target audience. Different groups have different "hot buttons" that will inspire them to action, Richards writes. Advisor Perspectives
(3/20)
- Facebook will change format of business pages on March 30
On March 30, Facebook will make its Timeline format mandatory for business pages. The layout will affect several areas for accounting firms, starting with the addition of a cover image on the top. Because it is so prominent, this image should be given a lot of thought. The profile image, usually the firm's logo, may need to be resized. The Timeline format also lets a business highlight important events and customize posts. AICPA Insights
(3/16)
- Isn't it time for your firm to start a blog?
Michael Kitces gives three reasons financial advisers should consider starting a blog to promote their practice. First, a blog keeps your name on your clients' radar screens. Second, it offers a way to communicate on a regular basis. Finally, by adding content to your site, you make it more likely that new clients will find you through search engines such as Google. Nerd's Eye View blog
(3/22)
| AICPA PFP News | | |
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Tax season news release added to PFS Marketing and Media Toolkit
Attention PFS credential holders! A new customizable news release has been added to the PFS Marketing and Media Toolkit to highlight the importance of financial planning as tax season draws to a close. Download Tax Time Right Time for Financial Planning, fill in your information and send it to local newspaper reporters, bloggers and TV stations! More instructions are included in the news release template. Look for more of these customizable news releases in the PFS Marketing and Media Toolkit throughout the year.
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PFS Exam Review Web Class: PFP Section members save $100
In six segments, the PFS Exam Review Web Class will help you understand the technical foundation of the Personal Financial Planning discipline and prepare you for the Personal Financial Specialist Examination. For your convenience, these six segments will be broadcast live two times. You have the option to select the time that's most convenient for you. Plus, you'll have access to the archive -- after the event is broadcast -- so you can use these video segments as a reference tool to help you study for the PFS Exam. (Note: You will have access to the archives through July 31). Watch all six segments and receive 15 hours of CPE. Purchase the PFS Exam in the same order and receive a 10% discount on your order.
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Forefield alert: Expired/expiring income tax provisions, new 2013 Medicare taxes
A number of significant federal income tax provisions expired at the end of 2011, a fact that might be easily overlooked with so much attention being focused on the "Bush tax cuts" that are still in effect, but scheduled to expire at the end of 2012. And new Medicare-related taxes, effective in 2013, have received surprisingly little coverage. Forefield's latest Text Client Alert provides a quick summary of all these changes. PFP/PFS members have free access to Forefield (a $399 value), a premier Web-based education and client-communication tool. Not a member? Join the PFP Section today and save $50 on your first year of membership when you enter promocode CPALDPFP at checkout.
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| SmartQuote | | |
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 | Don't ever take a fence down until you know the reason it was put up."
--G.K. Chesterton,
British writer
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| AICPA Personal Financial Planning Section Resources |
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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.
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| 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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| | Recent Financial Planning Digest Issues:
- Tuesday, March 20, 2012
- Tuesday, March 13, 2012
- Tuesday, March 06, 2012
- Tuesday, February 28, 2012
- Tuesday, February 21, 2012
| | | Lead Editor: Ashley Fletcher Frampton
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SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004 | |
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