AICPA Insights

AICPA Insights

AICPA Insights

  • 9 minutes 9 seconds
    Relief for Missed Portability Elections
    In this podcast, Bob Keebler covers Revenue Procedure 2014-18, which provides a simplified method for certain taxpayers to obtain an extension of time to make a portability election. Rev. Proc. 2014-18 provides an automatic extension for certain estates of decedents dying in 2011, 2012 and 2013 to elect portability. The extension applies to estates that would otherwise not have had a filing requirement, and allows the estates to file a return to elect portability until December 31. It includes the estates of same-sex decedents who were not eligible to elect portability until after the Windsor decision.
    14 February 2014, 3:00 pm
  • 40 minutes 52 seconds
    Interview with Team Who Wrote Net Investment Income Tax
    Bob Keebler interviews David Kirk and Adrienne Mikolshek, part of the team who wrote the Net Investment Income Tax regulations, to help members understand the new IRS Form 8960, Net Investment Income Tax for Individuals, Estates and Trusts and the draft instructions.
    29 January 2014, 3:00 pm
  • 26 minutes 1 second
    Explore the New IRS Form for Net Investment Income Tax
    Bob Keebler goes line by line through Form 8960, Net Investment Income Tax for Individual, Estates and Trusts, to help members understand key elements they need to know for tax season.
    24 January 2014, 3:00 pm
  • 45 minutes 52 seconds
    Understanding and Applying the Statement on Standards in PFP Services
    Over the past three decades CPAs have expanded the planning advice they provide to individuals and families as it relates to such areas as estate, retirement, risk management and investment planning. To adapt to a rapidly evolving profession and regulatory landscape and in addition to the already existing regulatory framework for CPAs, the AICPA is promulgating the Statement on Standards in Personal Financial Planning Services to protect the public and our members. In this podcast, Clark Blackman and Dirk Edwards lead you through a discussion on the nature and objective of the SSPFPS; when and to whom it applies; an overview of the requirements; how the standard will help elevate your practice; and the timeline for issuance and resources.
    21 January 2014, 3:00 pm
  • 36 minutes 9 seconds
    Understanding the 3.8% Net Investment Income Tax and Its Effects
    In this podcast, Bob Keebler discusses the impact of the regulations on net investment income tax.
    16 January 2014, 3:00 pm
  • 54 minutes 36 seconds
    Hot Topics and FAQs from the A and A Technical Hotline
    The AICPA Technical Hotline provides non-authoritative advice to members on matters of accounting and financial reporting, audit, attest, compilation and review service standards. This podcast, the AICPA Insights Live webcast on Nov. 22, addresses some of the more commonly asked questions over the past year in the areas of audit, attest, compilation and review engagements. Highlights include the new clarified audit standards, verification requests, supplementary information and Service Organization Controls reporting.
    24 December 2013, 3:00 pm
  • 1 hour 2 minutes
    10 Things You Should Know About Internal Controls
    The following podcast is from the AICPA Insights Live webcast series and covers 10 things one should know about internal controls as presented by Findley Gillespie and Steven Gin of Moss Adams.
    10 December 2013, 3:00 pm
  • 12 minutes 22 seconds
    Roth IRA Conversions
    The purpose of Roth IRA conversions as it relates to the Net Investment Income Tax is to lower modified adjusted gross income below the threshold amount over the long-term. Some benefits of Roth conversions include lower overall taxable income, tax-free compounding, no required minimum distributions at age 70 ½, tax-free withdrawals for beneficiaries and more effective funding of the "bypass trust." Converting to a Roth IRA creates opportunities to reduce the overall size of the estate and to take advantage of greater tax-free yields and favorable tax attributes. Bob Keebler walks you through the mathematics of conversion through examples, tactical considerations and a four-step process for Roth conversion planning.
    3 December 2013, 3:00 pm
  • 13 minutes 54 seconds
    Charitable Remainder Trusts
    A Charitable Remainder Trust is a split interest trust consisting of an income interest, which is paid to the donor or other beneficiary during the term of the trust, and a remainder interest, which is paid to the designated charity. The purpose of this strategy is to harbor net investment income in a tax-exempt environment while leveling income over a longer period of time to keep MAGI below the threshold amount. CRTs are especially useful when there is a large capital gain that pushes income above the threshold amount. In this podcast, Bob Keebler explores using CRTs in year-end planning strategies for your clients.
    26 November 2013, 3:00 pm
  • 12 minutes 34 seconds
    Year-End Financial Planning: Bracket Management
    Because of the multi-dimensional tax environment that now exists post-American Taxpayer Relief Act, CPA financial planners must look at the tax impact on clients’ financial plans through a 5 to 10 year horizon. Ordinary income tax rates from the Bush Administration were made permanent. The capital gains rate increased from 15% to 20% for taxpayers with income greater than the threshold amounts. Phase-out of personal exemptions and limitations on itemized deductions (Pease) become critical in managing tax brackets by shifting income and deductions into certain years. This podcast from Bob Keebler provides a overview of theory, strategies and case studies in bracket management.
    12 November 2013, 3:00 pm
  • 1 hour 7 minutes
    Proactive Year-End Financial and Tax Planning
    Demonstrate your firm's value by understanding and implementing year-end strategies that are timely and beneficial. This AICPA Insights Live session discusses the American Tax Payer Relief Act and Net Investment Insurance Tax as it pertains to year-end tax planning.
    8 November 2013, 3:00 pm
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