Pooled Income Funds: The Best Kept Secret In Planning From The Shallow End To The Deep End

  • Accountant
  • AFSP
  • CFP (US)
  • CGFM
  • CPA (US)
  • EA
  • ORTP
  • CPA/PFS
  • ChFC
  • CSA
  • MRTP
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CFIRS
  • CWS

Published: February, 2022

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What is a Pooled Income Fund?
    2 mins
  • The Benefits of a Pooled Income Fund
    11 mins
  • Income Tax Consequences
    19 mins
  • Why Use a PIF Instead of a CRT?
    32 mins
  • Suggested Scenario Design
    49 mins

Course Description

Traditionally, a Pooled Income Fund is a trust that is established and maintained by a public charity. Individual donors pool their donations in the Fund and the Fund then assigns each donor “units of participation” based on that individual donor’s contributions to the Fund. At least annually, the Fund distributes the net investment income to the donors based on their units of participation for the duration of the donor’s life. After the donor’s death, the Fund’s assets attributable to that donor may be used by the charity for its charitable purposes.

Pooled Income Funds offer several advantages to participants, but the most important advantages include an immediate tax deduction, lifetime income payments, and the satisfaction of charitable goals.

In this online continuing education course learn how to use Pooled Income Funds (PIF) to provide an immediate partial tax deduction and a lifetime of income for your high-net-worth clients and their most important charitable organizations.  PIFs have been part of the tax law since 1969 but, until recently, they have always been run by big charitable organizations. Now, a few savvy professionals have reinvigorated PIFs to make them more donor and advisor friendly. Further, low federal interest rates make the charitable income tax deduction for PIFs much greater than the Charitable Remainder Trust (CRT), to which they are closely related. Further, there are no constraints that prevent the PIF from naming multiple generations of income beneficiaries, allowing for some creative wealth transfer.  This online CPE session will take you through the practical details of how and when to make PIFs pay-off for your clients and their key causes.

Key topics covered in this online CPE webinar:

  • Why PIFs?
  • What are the benefits of PIFs?
  • How to use PIFs for Tax Planning?
  • How PIFs is used for wealth transfer?


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Learning Objectives

  • To discuss Pooled Income Fund (PIF) and when to use it for your clients
  • To discuss multiple benefits of using a PIF 
  • To discuss basic rules governing PIFs, including the “dos and don’ts”
  • To compare and contrast PIFs vs. Charitable Remainder Trusts and other charitable tools
  • To discover why a “Young” PIF is more effective than an “Old” PIF
  • To discuss different ways to use a PIF to benefit multiple generations

Recommended For

  • This online CPE course is recommended for CPA, PFS, CSA, and Other Financial Planning professionals involved in financial planning for their clients.
  • This online IRS-approved CE course is recommended for EA, AFSP, and all the Tax Professionals involved in tax planning for their clients.

Who Should Attend?

  • Accountant
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • Certified Senior Advisor
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Financial Planner
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Private Wealth Advisor
  • Senior Accountant
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros

Course Qualification

Webinar Qualifies For

  • 1 CPE Credit of Financial Planning for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Financial Planning for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit of Financial Planning for Chartered Advisor in Senior Living (CASL)
  • 1 CE Credit for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00592-21-S)
  • 1 CPE Credit of Financial Planning for Financial Services Certified Professional (FSCP)
  • 1 CPD Credit of General income tax planning for Personal Financial Specialist (PFS)
  • 1 CPE Credit of Financial Planning for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Financial Planning for Wealth Management Certified Professional (WMCP)
  • 1 CE Credit of Investment Planning for Certified Financial Planner (US) (Approval No. 299838)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00592-21-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00592-21-S)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper
  • 1 CPE Credit for Certified Government Financial Manager (CGFM)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Randy Fox

Principal, Two Hawks Consulting, LLC

Randy A. Fox, CFP®, AEP® is the founder of Two Hawks Consulting, LLC. and a nationally known wealth strategist, philanthropic estate planner, educator and speaker. He is also the co-founder of EzCharitable, LLC, an online training resource for professional advisors who wish to expand their capabilities in philanthropic giving. Mr. Fox has authored hundreds of articles and presentations for attorneys, financial advisors, CPAs and HNW families. He is the Editor in Chief of Planned Giving Design Center, a national newsletter and website for philanthropic advisors.  Mr. Fox attended Washington University in St. Louis where he studied Chinese and Political Science

About Company

Two Hawks Consulting, LLC

www.twohawksconsulting.com

Especially for the accounting, legal and financial planning experts serving ultra-high-net-worth clients and their closely-held, wealth-generating businesses, Two Hawks Consulting is the thought-leading advisor-to-the-advisors on advanced estate planning, charitable/philanthropic giving and business transition and succession planning.  Two Hawks collaborates closely with specialized experts to conduct a comprehensive review of the client’s situation, to develop a custom plan design book with recommended solutions and timing, and to direct all legal, financial, accounting and insurance aspects of the plan. We also stay connected to closely monitor plan performance, review plans thoroughly at least once each year and update them as needed

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.5

618 Ratings

Excellent

378

Very Good

194

Average

43

Poor

1

Terrible

2

SS

Susan Schreiner, CFP (US), EA

Nov 6th, 2021

Very good presentation. Very interesting idea. I don't work with high net-worth individuals, so less practical for me, but still excellent and interesting.

MB

Miranda Brownlow, Accountant, CPA (US)

Dec 30th, 2021

Enjoyed the information on how PIFs actually work from the investment point-of-view, rather than donor relation view.

CL

Christine Levin, CPA (US)

Dec 14th, 2021

The instructors were great. I learned a lot and appreciated both the overview as well as how they dug in to examples.

SD

Steven Dean, EA

Oct 2nd, 2021

the method of learning was very helpful as I could use it as my time allowed

RP

Robert Pelletier, CPA (US)

Jul 28th, 2021

very good, helpful insight into the use of this planning technique

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