Surgent's Individual and Financial-Planning Tax Camp

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 all clients, but in particular, 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. This material is continuously updated for recent legislation impacting individual taxpayers.

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

Highlights

Comprehensive coverage of the SECURE Act 2.0

Understanding the environment: what's new, what's expired or expiring, and what's likely to change

Reading a tax return for developing client-specific tax strategies

Changes to the lifetime estate tax exemption in light of proposed regulations

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

Selling a principal residence

Two principal residences at the same time

Use of life insurance to protect families: Whole Life Insurance, Term Life Insurance, Universal Life Insurance, and Variable Life Insurance

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

Social Security solvency issues

Incentive Stock Options and Employee Stock Purchase Plan considerations

What to do about itemized deductions

Trans-generational planning: conversions, income, and gain-splitting

Tax benefits of HSAs and other tax-advantaged accounts

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

Best financial planning ideas for young people

Designed For

Those involved in tax planning for individuals, including those who may be partners or shareholders

Prerequisites

Experience in individual income tax planning and income tax return preparation

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Fees

Credits

Specialized Credits

Level

Code

Vendor

Fields of Study

Leader(s):

William Taylor

Leader Bios

William Taylor

WILLIAM F. (Bill) TAYLOR, CPA Water Valley, Mississippi William F. (Bill) Taylor, CPA is President of Lifetime Financial Solutions, LLC, a financial coaching firm, and a CPA in private practice. Since retiring as Community Bank President of Renasant Bank in Water Valley, MS, he has served as an adjunct assistant professor in the MBA program at the University of Mississippi. Bill has worked in the employee benefit and investment fields for over 25 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS, office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals & Actuaries, CPA and bar associations in 45 states, and many private organizations. He has been awarded both the AICPA Outstanding Discussion Leader award and the James L. McCoy Discussion Leader of the Year Award from Surgent CPE. Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.

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