With the far-reaching changes brought about by recent tax reform, careful planning takes on new importance. This course presents the most important income tax planning ideas wealthy clients and closely held business owners need to consider this year to take advantage of the present and plan for the future. It highlights areas in the income tax return that suggest future opportunities for the individual client. Continuously updated for the latest legislation and IRS guidance.
This course features a live instructor and has been specifically designed for the NJCPA.
DESIGNED FOR
All practitioners involved in tax planning for individuals who need to go beyond basic tax and financial planning techniques
BENEFITS
- Identify areas where individual taxpayers are not taking full advantage of the Code
- Know the directions in which taxes are changing or are likely to change and how that affects planning
HIGHLIGHTS
- Retirement planning in light of IRA and RMD changes
- Comprehensive coverage of the One Big Beautiful Tax Bill Act
- Changes to the lifetime estate tax exemption considering proposed regulations
- Social Security - the latest on the looming solvency crisis
- Review of pertinent changes from recent legislation
- Reading a tax return for developing client-specific tax strategies
- Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future
- Compensation and fringe benefit issues
- Identify clients with net investment income tax problems and the potential ways to reduce oreliminate them
- All in the family: Tax tactics for spouses, children, and parents
PREREQUISITES
Experience in individual income tax planning and income tax return preparation
ADVANCE PREPARATION
None
ADDITIONAL NOTES