Overview
Each year brings its own set of tax planning challenges, and this year is no exception. This course aims to arm tax planners with planning strategies and ideas that wealthy clients, middle-income clients, and closely held business owners need to consider right now to take advantage of present opportunities and plan for future tax advantages. Learn strategies that can really have an impact on client lives, while also bringing value to you and your firm. The material is current with relevant provisions from The Tax Cuts & Jobs Act.
Major Topics:
- The SECURE Act, including IRA and RMD changes
- Understanding the environment: what’s new, what’s expired or expiring, and what’s likely to change
- Review of pertinent changes from tax reform
- Reading a tax return for developing client-specific tax strategies
- Will there be more changes in the individual tax laws?
- The net investment income tax: planning for compliance
- Family income-splitting strategies that need to be considered
- Income tax issues: impact on timing of other income
- 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
- What to do about itemized deductions
- Trans-generational planning: conversions, income and gain-splitting
- HSAs
- 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
Format
- On-Demand Webcast – 8 CPE credits – $155
- Downloadable PDF – 12 CPE credits – $125
- Textbook – 12 CPE credits – $140
Can you explain the differences among the three self-study formats? An on-demand webcast is a recorded streaming version of a live webinar, featuring PowerPoint slides, audio and, in some cases, video. An online download course is a text-based PDF that you can download or print. With a textbook, the course material is shipped to you in a three-ring binder. In all three formats, the CPE exam is taken online.
