Description

The need for individual tax planning has never been greater. With the 2024 elections and 2026 around the corner, individuals will look to their personal goals and the tax formula as they develop their plans. Exclusions from income, above-the-line deductions, and credits will play a critical role for the next two years, but the return of itemized deductions, exemption deductions, and higher tax rates is coming soon. This course reviews the different types of planning and essential planning techniques. Examples of these approaches are illustrated as scores of tax strategies are presented.

Target Audience

CPAs, tax preparers, attorneys and financial advisers.

Course Objectives

• Review the tax formula and recent developments, including the Inflation Reduction Act and SECURE Act 2.0
• Describe and illustrate the different types of planning and frequently used techniques
• Review tax strategies from the areas of education, retirement, investment, and estate planning

Subjects

• Planning opportunities in the tax formula
• Different types of planning
• Frequently-used planning techniques
• Qualitative and quantitative considerations
• The connection between tax planning and other financial planning areas, such as retirement, investment, insurance, and estate planning
• Looking to the past, present, and future as we plan