Description

Each year brings its own set of tax planning challenges, and this year is no exception. This course aims to arm tax planners with planning strategies and ideas that all clients, but in particular, wealthy clients, middle-income clients, and closely held business owners need to consider right now to take advantage of present opportunities and plan for future tax advantages. Learn strategies that can really have an impact on client lives, while also bringing value to you and your firm. Please Note: 2026 returns are not covered in this course. They will be covered after their issuance, as part of our spring 2027 course release.

Instructor: Dave Peters, CPA, CFP, CLU, CPCU, MST, MBA

Target Audience

Those involved in tax planning for individuals, including those who may be partners or shareholders

Course Objectives

Mine a tax return for tax planning with a client

Understand the planning implications of the current environment

Determine the best tax strategies for retirement

Understand tax planning for the middle-income client

Subjects

Comprehensive coverage of the One Big Beautiful Tax Bill Act

Reading a tax return for developing client-specific tax strategies

Changes to the lifetime estate tax exemption considering proposed regulations 

The net investment income tax: planning for compliance

Family income-splitting strategies that need to be considered

Income tax issues: impact on timing of other income

Selling a principal residence

Two principal residences at the same time

Use of life insurance to protect families: Whole Life Insurance, Term Life Insurance, Universal Life Insurance, and Variable Life Insurance

Using Roth IRAs and Roth contribution programs to best advantage

Conversions: do they still make sense?

Taking distributions: matching timing to client requirements

Qualified plan contributions to reduce current income and Social Security tax: implications for business owners and self-employed

Social Security - the latest on the looming solvency crisis

Incentive Stock Options and Employee Stock Purchase Plan considerations

What to do about itemized deductions

Trans-generational planning: conversions, income, and gain-splitting

Tax benefits of HSAs and other tax-advantaged accounts

Identifying tax opportunities: reviewing the prior-year return to develop a plan for the future

Planning for middle-income taxpayers: financial planning for the young, the working, and those approaching or in retirement

Best financial planning ideas for young people

Prerequisites

Experience in individual income tax planning and income tax return preparation