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.

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 acccounts
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

Prerequisites

Experience in individual income tax planning and income tax return preparation

Designed For

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