Surgent's Individual and Financial-Planning Tax Camp

 

   

 

 
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Overview

8.0 Credits

Each year brings its own set of tax planning challenges, and this year promises to be exceptional in that regard. 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 advantage. Learn strategies that can really have an impact on client lives, while also bringing value to you and your firm.

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

Major Topics

  • Understanding the environment: what's new, what's expired or expiring, and what's likely to change
  • Review of legislative proposals
  • 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 and also for potential repeal
  • Family income-splitting strategies that need to be considered
  • Income tax issues: impact on timing of other income, selection of investments
  • 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

Designed For

Those involved in tax planning for individuals who need to go beyond basic tax and financial planning techniques

Prerequisite

Experience in individual income tax planning and income tax return preparation
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