This article provides an overview of several of the provisions in the Tax Cuts and Jobs Act that affect income tax returns for trusts and estates, including the new Sec. 199A deduction, which may offer an opportunity for savings.
The Securities and Exchange Commission's Division of Investment Management wants to hear from financial professionals regarding issues related to the custody of digital assets by registered investment advisers. It is also interested in receiving questions about how the SEC's Custody Rule applies to digital assets.
Contest: How digitally fit are you? Flex your digital muscles and test your knowledge of the hottest topics in the profession: cybersecurity, blockchain, data analysis and robotic process automation. Spend less than 2 minutes and earn a free (yes, free) course. Challenge me
Clients should regularly review estate planning strategies, but it is even more important to do so after changes to tax law. Here are 10 factors to consider, including the expanded estate tax exemption and the need to review so-called formula trusts. Hone your knowledge of the latest estate and financial planning strategies using The Adviser's Guide to Financial and Estate Planning, included with PFP Section membership.
Some young clients are adherents of the FIRE movement, which is all about achieving financial independence and retiring early. Crucial factors for these clients to consider include safe withdrawal rates and how leaving the workforce early will affect Social Security benefits.
Clients who demand high returns for low risk can frustrate advisers. Here are three ways to demonstrate the relationship between risk and return to such clients. PFP Section members can use Broadridge Advisor to communicate clearly with clients who have questions about their investments. Check out the 3,000-plus pieces that are ready to be customized!
This semiannual update on individual tax topics from The Tax Adviser discusses recent cases, guidance and rulings on such areas as material participation, hobby losses, charitable contributions and the Sec. 199A regulations.
Certain Sec. 1031 transactions may be straightforward, but others -- including related party transactions -- are more complex. The "substance over form" doctrine is critical when evaluating these transactions.
Longevity risk is a key consideration for advisers, with many saying longer life spans are challenging traditional ideas about planning. Finding the right asset allocation and monitoring clients' spending behavior are important steps when planning for longer life spans.
By delivering advice in the appropriate manner, you can increase the chances clients will follow through. This podcast discusses how to gauge whether clients are ready to follow your advice, what to do when people in a client's life might prevent the client from taking your advice, and mistakes to avoid when giving advice, among other topics.
Do you know a young CPA/PFS? Nominate them for a standing ovation by May 1!
The Standing Ovation Program recognizes young CPA/PFS credential holders in personal financial planning (including tax, retirement, estate, risk management and investments) who exhibit exemplary professional achievement. Review the eligibility and nomination requirements and submit this quick and easy online application by May 1.
Personal Financial Planning Section
is the premier provider of information, tools, advocacy and guidance for advisors who specialize in providing
estate, tax, retirement, risk management and/or investment planning advice to individuals, families and
About the CPA/PFS Credential:
Personal Financial Specialist
program allows CPAs to gain and demonstrate competence and confidence in providing estate, tax,
retirement, risk management and/or investment planning advice to individuals, families and business
owners through experience, education, examination, and a resulting credential.
AICPA Personal Financial Planning Section Resources