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Overview

8.0 Credits
ONLINE

With different tax rates for individuals and trusts, tax planning takes on more importance. New legislation increases the importance of generating new ideas for financial planning and saving for retirement. The purpose of this course is to explore practical tax-planning ideas that practitioners can use to assist clients with their needs. This course is crucial for CPAs who are looking for good ideas that can save clients money! Continually updated for legislative developments.

Objectives

  • Understand life insurance for both income and estate planning
  • Identify strategies that are effective following estate and gift tax reform
  • Understand options available to baby boomers as they reach retirement in light of Social Security
  • Prepare for potential legislative changes to retirement and estate planning

 

Major Topics

  • Timely coverage of breaking tax legislation
  • Preident Trump's tax proposals - Review key components of President Trump's tax agenda presented during his presidential campaign
  • The SECURE 2.0 Act and Inflation Reduction Act provisions applicable to individuals
  • Changes to the lifetime estate tax exemption in light of proposed regulations
  • Considerations when selling a principal residence
  • Tax benefits of HSAs
  • An overview of the mechanics and practical considerations of Donor Advised Funds
  • Virtual currency and digital assets - understand the new Form 1099-DA for reporting digital assets
  • The best new income tax and estate-planning ideas
  • The changing Social Security landscape: long-term solvency issues and what it means for retirement planning
  • Creative charitable giving strategies
  • Financial planning strategies
  • Maximizing retirement plan benefits
  • Using intentionally defective grantor trusts
  • Miscellaneous tax-planning techniques that can add up to significant tax savings
  • How to use the whole family for tax savings
  • Life insurance
  • Up-to-the-minute ideas reflecting new tax law changes in cases, regulations, and rulings

 

Prerequisite

Basic course in individual income tax, Social Security, and estate planning
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