Live Stream: Multigenerational Tax Planning Strategies for New Service Opportunities and Better Client Outcomes

231  |  Partner Virtual Events  |  Intermediate  |  Scheduled


Many clients overlook planning that takes into account not only their own issues but also the needs of other generations - above and below - of the extended family unit. Advisors can help achieve tax and financial planning objectives for multiple ties within the family. This course will explore various techniques for different net worth/income levels of generations.


Number of Credits Type of Credits
6.75 CLE
8 Tax


Prior experience in advising clients on individual and financial planning issues


  • Using the trans-generational IRA to benefit lower-income parents
  • How to take advantage of the Roth IRA
  • Income-splitting and the creation of earned income for lower and higher generations
  • Qualifying higher-generation members as dependents
  • Medical expense: how younger generations can help higher-generation members
  • Elder care planning: reverse mortgages, Medicaid eligibility
  • Checklist of documents each generation needs
  • Loans and gifts that may reduce or eliminate the net investment income tax
  • Role of trusts in multi-generational planning
  • Ownership of real estate: does the QPRT make sense?
  • Succession planning: transferring a business interest; use of voting and nonvoting stock; planning for redemptions; special problems of LPs, LLCs, and partnerships; buy-sell and other restriction agreements
  • Minors: using trusts, kiddie tax issues, avoiding net investment income tax; funding education and retirement through CESAs and 529 plans
  • Life insurance: who needs it, and how much; use of annuities and private annuities


  • Identify transactions that may benefit multiple generations in a family
  • Understand how the net investment income tax impacts various tax and financial planning strategies
  • Understand structuring of a business and the transfer of interests in a family-owned business


Download course material prior to event.


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Registration for this event has closed. If you have any question or concerns please give us a call at 615-377-3825 or send us an e-mail at


John N. Sherrick, CPA, MA

John N. Sherrick is a partner of Sitrick & Associates, LLC in Bettendorf, Iowa. He prepares tax returns and financial statements for closely held companies and their owners. He also provides a variety of income tax, retirement, and estate-tax planning services for his clients. He also serves as an expert witness for business valuations and other tax and accounting issues. He is also a discussion leader for continuing education courses in the tax arena on a national level. John was recognized by the NCACPA as an Outstanding Seminar Speaker for 2013, and he is also the recipient of the 2011 James L. McCoy Discussion Leader of the Year Award.

John has over 40 years of experience in public accounting with local firms. His experience includes a wide variety of tax and accounting issues for small businesses in a number of industries. He also has had experience in auditing and taxation of not-for-profit organizations on the local and national level.

Sherrick received his Bachelor’s degree in Economics and Business Administration from Knox College in Galesburg, Illinois. He then received his Master’s degree in Accounting from the University of Iowa, in Iowa City, Iowa. He is licensed in both Iowa and Illinois and is a member of the Iowa Society of CPAs and the Illinois CPA Society.

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