Income Tax Reform FLEXCAST

Overview

2020 was an unbelievable time we will long remember and 2021 just began with a bang - The Democrats taking control of Congress and federal tax policy. Although the crisis may abate in 2021, the rate of tax policy change will likely increase. The “Blue Wave” along with the fiscal stimulus from Congress both will have tremendous implications for your clients given the likelihood for significant tax changes directed towards wealthy Americans. Whether, you’re a financial advisor, CPA or attorney, clients will be looking to you for the best income and estate tax strategies.

Highlights

President Elect Biden’s Campaign Tax Policy Proposals. Managing Capital Gains. Tax Policy Proposals. Gain Harvesting. Roth IRA Conversions. Charitable Remainder Trusts. Installment Sales.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

A detailed review of President Biden’s income and social security tax policy proposals- including a checklist of planning ideas. Bracket management considering historically low rates, the scheduled sunset, and the potential rate increases under a Biden Administration. Capital gain harvesting to capture a rate advantage with a potential of a 39. 6% LTCG rate under the “Buffet Rule”. The mathematics of loss harvesting. Advanced Roth conversions. The reduced value of itemized deductions. The reduced value of Funding tax-preference retirement accounts. Using 529 Plans for elementary and high school tuition. The best charitable contribution strategies. Opportunity zone investments. Section 199A Deduction planning and likely changes. Using trusts to create additional income taxpayers. The end of GRATs, IDGTs and dynasty trusts. And Much, Much More!

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.