Individual Tax Planning Ideas

152  |  Course  |  Intermediate  |  Scheduled

Description

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. Continually updated for items regarding tax reform, including 2021 stimulus bill(s).

A Live Stream version of this event is available here.

Credits

Number of Credits Type of Credits
4.00 Taxes
3.33 CLE

Designed For

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

Prerequisites

Experience in individual income tax planning and income tax return preparation

Highlights

  • The SECURE Act, including IRA and RMD changes, reviewing beneficiaries, and discussing strategies to mitigate the elimination of the stretch IRA
  • Overview of major CARES Act and ARPA changes related to individual taxpayers
  • Overview of new COVID-19 legislation provisions impacting partners, S corporations, and sole proprietorships, including PPP loans, the ERTC, FFCRA credits, and payroll tax deferral
  • Review of pertinent changes from tax reform
  • 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 or eliminate them
  • All in the family: Tax tactics for spouses, children, and parents
  • Understanding the environment: what's new, what's expired or expiring and what's likely to change

Objectives

  • 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

Prices

Member (Early Bird)
$169.00
Non-Member (Early Bird)
$219.00
Member
$194.00
Non-Member
$244.00
Your Price: $244.00

This is your base price and does not reflect any additional session fees, optional add-ons, or guest registrations.

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$15.00

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Instructors

Don P. Cochran, CPA, JD, CFP, CRC

Don has practiced law in both Iowa and Minnesota for over 38 years. He is currently in solo practice of law in Apple Valley, Minnesota, focusing on tax, estate planning, and small business organization and management. He was a CPA with the Small and Emerging Business practice of then-Big 8 accounting firm, Touche Ross, in Bloomington, Minnesota, and has served as the Vice President of Tax and CFO with various privately and publicly held companies. He also served as an advanced sales consultant with Securian Financial, Nationwide Financial, and Pacific Life Insurance Company's Annuity and Mutual Fund division, providing advanced planning support for financial advisors on topics of financial and estate planning for small to medium-size businesses and wealthy individuals. Don is actively involved in continuing education and other seminars for financial professionals and accountants, on topics related to tax issues for individuals and small businesses; current financial planning and asset transfer; and preparing for and living through retirement. Don is much sought after as a presenter of CPE for seminars sponsored by state societies of CPAs, CPA firms, and other providers of continuing education for financial professionals, and is a featured speaker at several national tax conferences. Don earned a Bachelor of Science in General Science from the University of Iowa, Iowa City, Iowa, and graduated from the University of Iowa College of Law with his Juris Doctorate. In addition to being a licensed attorney in Minnesota and Iowa, he maintains his license as a Certified Public Accountant. He has also attained the designation of Certified Financial Planner® and Certified Retirement Consultant.

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