This can't-miss "tax camp" will help you positively impact the lives of your clients, while also bringing significant value to you and your firm. Going well beyond basic tax and financial planning techniques, this course is packed with the most important planning ideas you need to help wealthy clients, middle-income clients, and closely held business owners take advantage of the present and plan for the future. Includes an overview of what’s new, what’s expired or expiring, and what’s likely to change in the tax environment.
DESIGNED FOR
Those involved in tax planning for individuals who need to go beyond basic tax and financial planning techniques
BENEFITS
Learn strategies that can really have an impact on your clients, while also bringing value to you and your firm.
HIGHLIGHTS
Major Topics:
- Understanding the environment: what’s new, what’s expired or expiring, and what’s likely to change
- Review of legislative proposals
- Will there be more changes in the individual tax laws?
- An in-depth discussion of the 3.8-percent surcharge tax, including how it is computed and what planning steps must be taken
- Family income-splitting strategies that need to be considered
- Income tax issues: impact on timing of other income, selection of investments
- Why maximizing pension plans takes on new importance
- Using Roth IRAs and Roth contribution programs to best advantage
- Conversions: do they still make sense?
- Taking distributions: matching timing to client requirements
- Qualified plan contributions to reduce current income and Social Security tax: implications for business owners and self-employed
- Prioritizing allocations among investment, retirement, and college funding vehicles
- What to do about itemized deductions: will they still be available?
- Trans-generational planning: conversions, income and gain-splitting
- Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future
- Planning for middle-income taxpayers: financial planning for the young, the working, and those approaching or in retirement
Learning Objectives:
- Mine a tax return for tax planning with a client
- Understand the planning implications of the current environment
- Determine the best tax strategies for retirement
- Understand tax planning for the middle-income client
COURSE LEVEL
Intermediate
PREREQUISITES
Experience in individual income tax planning and income tax return preparation
ADVANCE PREPARATION
None
ADDITIONAL NOTES
This course qualifies for CFP credit.