FINANCIAL PLANNING ASSOCIATION OF GREATER PHOENIX
Symposium
PRACTICAL TAX TALK February 16, 2022 Junior Achievement Training Room 636 W Southern Ave, Tempe AZ 85282 OR: Attend Virtually via Zoom A robust, hybrid experiential learning event. https://www.fpaofphoenix.org/event-4604539
FINANCIAL PLANNING ASSOCIATION OF GREATER PHOENIX
Thank You!
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Symposium 02.16.22 Practical Tax Talk
Welcome The past two years have presented unusual and unexpected challenges for preparing, presenting and consuming professional education events. Virtual platforms have allowed business to continue as usual for most financial professionals. The shift to online, consume-anywhere content is certainly convenient, but most of us agree it has many shortcomings. Though we welcome the return to in-person events, many firms, and the professionals who manage and work in them, are not yet comfortable with large-scale gatherings. Compromising with hybrid events that offer both in-person and virtual delivery options is a workable alternative but still less than ideal, as realtime attendance is less compelling when content can be consumed at any time via recording. For now, one thing seems clear: the return to large events such as our Symposiums will remain bumpy. Plans will be made, altered and adjusted. Attendance numbers will be hard to predict. Throughout these times, FPAGP remains dedicated to the evolution of our professional development programming. We continue to enhance our content options, relevant presenters, and interactive delivery formats. This Symposium event represents our commitment to this resolve. Our intention with Practical Tax Talk is to showcase local professionals around timely tax updates with an event structured to invite continual robust and engaging dialogue as we renew connections. The recorded content will remain accessible to attendees and members as desired by them in the coming months. We are grateful to our partners, our members, and the financial community who support us. Through our combined efforts, we continue to advance knowledge and build the skills that financial professionals need.
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Symposium 02.16.22 Practical Tax Talk
Contents Welcome __________________ 3 Presenter Itinerary ____________ 7 Tax Code Changes ____________ 10 Dale Walters & Drake Qualls ______ 12 Dr. Moira Summers ___________ 14
Rory Wilson & Elaine Smith ______ 16 Jeffrey Ong ________________ 17 Pricing and Registration ________ 19
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Insist on a
CEFEX-Certified TPA
Retirement Plan Design • Administration Consulting • Actuarial Services
Fiduciaries must act prudently and in the best interest of the participants and beneficiaries, which includes the selection and monitoring of the plan’s service providers. By hiring a CEFEX certified third-party administrator (TPA), retirement plan fiduciaries can rest assured that the TPA has already gone through a rigorous assessment, thus helping to fulfill their due diligence obligations.
Arizona’s
ONLY
CEFEX-Certified
TPA
Pinnacle Plan Design
How can the CEFEX Certification help plan fiduciaries satisfy their due diligence obligations?
CEFEX CERTIFIED TPAS… • • • • • • •
Adhere to ethical sales practices Devote sufficient resources to protecting the plan’s Personal and Identifiable Information Disclose fees and services accurately and clearly Provide support for DOL and IRS audits Have a documented disaster plan that is annually tested for accurate data recovery Follow a consistent plan governance process Employ experienced staff to support technical retirement plan compliance questions
• • • •
Require staff to attend and pass Continuing Education courses Maintain sufficient errors & omissions insurance coverage Have a documented succession plan in place Ensure accuracy and compliance for the company’s retirement plan.
For more information on partnering with Pinnacle Plan Design to establish or take over administration of a plan, contact: E Camelback Rd
2201 E. Camelback Rd., Ste. 200, Phoenix, AZ 85016 • (602) 792-5982
N 24th St.
(602) 792-5982 rpetrillo@pinnacle-plan.com
N 22nd St.
Director of Business Development
Pinnacle Plan Design, LLC www.pinnacle-plan.com info@pinnacle-plan.com
N 20th St.
Robbie Petrillo, QPA, QKA
Symposium 02.16.22 Practical Tax Talk
Presenter Itinerary 8:30 Gather | PEP Talk and Welcome 8:50a—10:10a
1.5 hr CE
Federal Tax Action Alerts Phoenix Tax Workshop
PEP Talk and stretch break
10:20a—11:10a
1.0 hr CE
Facilitated Discussion Dale Walters & Drake Qualls
PEP Talk (BizTown Peek) and Lunch Box
11:30a—12:50p 1.5 hr CE Un Taxing Your Clients Dr. Moira Summers (via Zoom) PEP Talk and stretch break
1:15p—2:25p
1 hr CE
AZ Legislative Update & Tax Update Rory Wilson & Elaine Smith
PEP Talk and stretch break (Tax Credit Story)
2:40p—3:20p
0.5 hr CE
AZ 529 + Finanicial Literacy Legislative Outlook Jeffrey Ong, AZ Treasurer Office
PEP Talk and stretch break
3:20p—3:30p
PEP Voting, Coming Events, Closing Remarks William Cerynik & Craig Waugh
3:30p—5:00p
End of Day Mixer (on site)
Times listed are Mountain Standard (Arizona) Time
Hybrid Event In-Person with social distancing: Junior Achievement Training Room 636 W Southern Ave Tempe 85282
Via Zoom: Meeting confirmation and reminder emails will provide meeting ID and password. Zoom Polling or Mentimeter will be used to facilitate dialogue and interaction.
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Our network of professional advisor partners is always growing. If you’re interested in connecting with us, give us a call at 602.682.2087 or email Lisa Stratton at LStratton@azfoundation.org.
Adult learning can be as enjoyable as discovery is for a child! FPAGP’s leadership team created and utilizes our Learning Hub to produce and deliver high-rigor, high-engaging programming. https://tinyurl.com/b93pbuc4
Your Journey. Your Ambitions. Achieved. Robust, engaging content relevant for every step of your financial planning career.
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Advancing KNOWLEDGE Tax code Updates A review of the most impactful changes from this last set of legislative acts.
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Symposium 02.16.22 Practical Tax Talk
The Phoenix Tax Workshop was established in 1961 to educate professionals in all areas of taxation – federal, state and local. This elite group of tax professionals meets eight times per year at their Saturday CPE/CLE sessions.
Low-Cost, High-Quality CPE – The annual fee of $375 includes the opportunity to receive at least 24 hours of CPE/CLE credit per year.
Convenience – You may attend in person or enjoy the convenience of watching where you are via webcast.
Current Tax Issues & Court Cases – Each agenda will include a variety of speakers who will discuss recent tax issues and court cases that may impact your clients or business.
Visit the ASCPA website for more information: https://www.ascpa.com/earn_cpe/phoenix_tax_workshop
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Exchanging IDEAS Tax code changes Dale and Drake will lead a review and discussion about what the Phoenix Tax Workshop highlights, what they are experiencing with their practices and clients, and what you are seeing and doing in your tax-centric planning and conversations with your clients.
Dale Walters
Drake Qualls
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Symposium 02.16.22 Practical Tax Talk
Dale A. Walters, CPA, PFS Dale is the Director of Canada-US Tax Services at BeachFleischman, one of Arizona’s largest locally owned CPA firms, and is a licensed certified public accountant and has earned the personal financial specialist designation. Dale has over 40 years of experience and is a frequent speaker on US-Canada financial planning and tax related issues, and is the author of Buying Real Estate in the US – The Concise Guide for Canadians and is the co-author of Taxation of Canadians in America: Are YOU at risk? and Taxation of Americans in Canada: Are YOU at risk? Having owned and run many businesses over many years, Dale understands the needs, frustrations and challenges of business owners. Dale has experienced the decisions to be made with regards to structure, compensation and benefits, pricing, marketing, hiring, culture, mergers and ultimately the successful transition of a business to the next generation of leadership. Dale is a former collegiate wrestler and four-time World Heavyweight Karate Champion. Dale is also fourth-degree black belt in Judo and a first-degree black belt in the Israeli self-defense system of Krav Maga.
Drake Qualls, CFP As a CERTIFIED FINANCIAL PLANNER®, Drake focuses on delivering and implementing comprehensive financial planning. He has more than eight years of experience serving individuals, employee benefit plans and small business owners. Drake is currently with CLA Wealth Advisors, where he serves as the sole point of contact for many clients in Phoenix and Tucson. Drake has a strong background in many aspects of the wealth management business, including former positions at Charles Schwab and Integrated Wealth Management. This experience serves as a powerful backdrop for his advice. Today, Drake is a member of the Central Arizona Estate Planning Council (CAEPC) and a member in the Key Executive Program through the Entrepreneur’s Organization (EO). In December of 2021, Drake was elected by his peers to the board of the Financial Planning Association of Greater Phoenix (FPAGP). Further, Drake was appointed as Treasurer of FPAGP and has been specifically tasked with leading the organization’s drive to increase Financial Literacy in the state of Arizona ( a core passion of his). Drake lives in Moon Valley with his wife, Justine, and his two young daughters, Paige and Violet. He most enjoys spending time with his family. Hobbies include gardening, strength training, karaoke, and the occasional hiking/canyoneering trip. 13
Building SKILLS Un-Taxing Your Clients Tax forms, insurance decisions, estate plans, bill payments, investment choices -- keeping on top of personal and business finances can feel like a never-ending chore for many clients. Stress mounts when factors such as disorganization, procrastination, ill health, or marital disagreements are added to the mix. What can CFP professionals do to help ensure follow-through with key tasks in financial life? Note: This session is being delivered via Zoom for both In-Person and Virtual attendees
Dr. Moira Somers
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Symposium 02.16.22 Practical Tax Talk
Dr. Moira Summers Dr. Moira Somers is a psychologist, family wealth consultant and executive coach. Her work is divided between direct client services, on the one hand, and consulting to family business offices and financial services, on the other. Although Canada is her home, her client base is international. Individuals and families reach out to Moira for help in dealing with the surprising complexities ushered in by significant wealth, particularly when that wealth is being generated by family-owned businesses. She is an experienced thinking partner for people who want to examine and direct the ways in which family wealth is affecting one or more domains of life: work, friendships, family ties, and various aspects of identity and well-being. Dr. Somers works closely with financial professionals who serve UHNW families. She helps family office team members address client-facing challenges such as non-adherence, cognitive impairment and addictions, transition stress, and an array of family struggles. Where appropriate, she also provides direct services to the firm’s clients. She has delivered keynote addresses to organizations such as the National Football Players’ Association, the Financial Planning Association, XYPN Conference, and a wide array of banking, insurance, and investment companies. She offers Mastermind Groups and in-house training for those who want to increase their expertise on the personal side of financial counsel. Dr. Somers is a faculty member at the Ultra High Net Worth Institute and at the Sudden Money Institute. She leads the Financial Psychology Special Interest Group for the American Psychological Association. She is a featured guest and writer for many financial advising / family office podcasts and publications. Her book, Advice that Sticks: How to Give Financial Advice that People Will Follow, has become an international bestseller. Learn more about Dr. Somers on her website: https://moneymindandmeaning.com/about-moira/
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Advancing KNOWLEDGE AZ Legislative Update & Tax Update
Elaine Smith is a Deputy Assistant Director over the Department of Revenue’s Office of Economic Research and Analysis unit. She has worked for the Department for over 30 years. Over that time her work has concentrated on all tax types except Corporate Income Tax. She has been involved with the Income Tax credits in a variety of capacities throughout her time at the Department, including the certification of Qualified Charitable Organizations since 2009.
Rory Wilson has been with the Arizona Department of Revenue for 15 years all of which have spent in Tax Policy. He currently serves as Tax Policy Lead Counsel with a focus in income taxation. He is a member of the Arizona State Bar and is a graduate of the Alexander Blewett III School of Law - University of Montana where he earned a J.D. and the University of Washington School of Law where he earned an LL.M. in Taxation.
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Recent information that impacts your clients and your financial planning strategies. Presented by Rory Wilson and Elaine Smith of the Arizona Department of Revenue.
AZ 529 + Financial Literacy Legislative Outlook A peek at what lies ahead in 2022 and beyond, presented by the Arizona Treasurers Office.
Jeffrey Ong
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Commercial Real Estate Tax Planning Solutions
1031 Exchanges and Delaware Statutory Trusts (DSTs) Qualified Opportunity Zone Programs (QOFs) Real Estate Investment Trusts (REITs)
Insured Cash Management Program
Cantor Fitzgerald, founded in 1945, is an investment-grade rated, global financial services firm. Our affiliate, Newmark, is among the largest commercial real estate brokerage firms globally, having completed over $72B of transactions in 2020.
STEVE POINTER Steve brings over 13 years of experience in working with wealth management, accounting, tax and legal professionals on the education and implementation of sophisticated real estate solutions. He is a long-time member and valued partner of the FPAGP. He takes a consultative approach to educating the financial planning community. Steve enjoys working with both young and highly experienced professionals to provide value-added content with the goal of creating awareness and delivering results that help financial advisors grow their practice.
(480) 766-0009 | steve.pointer@cantor.com 2398 E Camelback Rd Suite 950, Phoenix, AZ 85016 www.linkedin.com/in/steven-k-pointer-412ba714/ www.cantor.com/our-business/investment-management/
Symposium 02.16.22 Practical Tax Talk
Register Now All FPAGP events take advantage of interactive technology tools like Mentimeter to provide easy and immediate feedback continually throughout each session. All presenters are coached and nurtured away from a lecture format and toward conversational, experiential, and fun information delivery.
In Person*
Virtual
Limited to 45 Attendees. Members given first priority. Members may register a guest (non-member) at the same time as they register, at the guest rate.
Members may register guests (non-members) at the same time as they complete their registration, at the guest rate. If your office is hosting a Watch Party, this is the way to register anyone who will be attending and wanting CE credit.
Members
Members
$45
NonMembers
$95
NonMembers
$75 $125
Partners are welcome to invite multiple members of their firms to attend the Virtual symposium presentation, but spacing concerns during the current pandemic allow only 1 Partnership representative to attend the event In Person.
Register
Please watch for emailed event confirmations regarding any changes for In Person attendance. As *theNote: event date draws near, attention will be paid and communicated re: best practices and attendance protocols intended to help keep us healthy. Size of in-person meetings is limited, with members given first priority. Members may register a guest (non-member) at the same time as they register, at the guest rate. FPAGP Public Health Events Policy: The Chapter’s Board of Directors, working with its Executive Director, will, during any public health situation announced by a governmental body and affecting Arizona, identify all requirements and guidance issued by the relevant federal, Arizona, and local authorities and follow them. In the event of conflicting requirements or guidance, the Chapter will follow the more restrictive ones. The Chapter will also ensure, the best it is able, that any venues it uses for meetings or events will make accommodations to allow the Chapter to follow the requirements or guidance under which it is operating.
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FINANCIAL PLANNING ASSOCIATION OF GREATER PHOENIX
Symposium 02.16.22
Practical Tax Talk
Junior Achievement Training Room 636 W Southern Ave, Tempe AZ 85282 OR Virtual Attendance via Zoom
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