The many changes made to the Internal Revenue Code since 2001 have created numerous unique planning opportunities for individuals. Careful tax planners must weigh current rules with an eye toward the future. This course will assist the practitioner in charting alternatives and guiding clients through these complex tax times.
Planning is a year-round process, and this course is loaded with ideas that can be used throughout the year to reduce taxes. Among the ideas discussed will be the Alternative Minimum Tax, charitable giving, tax-saving strategies for real estate owners and investors, and much more. Working systematically through Form 1040, the practitioner will be given many ideas on how to reduce taxes through advance planning.
Learning Objectives
Upon completion, participants will be able to:
Teach the practitioner to chart alternatives and guide clients through complex tax issues based on Form 1040
Provide strategies for reviewing a prior year's tax return and identifying tax planning opportunities.
Major Topics
Health savings accounts (HSAs)
Alternative Minimum Tax-how to deal with it
Roth IRAs-proper use
The importance of AGI in tax planning
Alternative techniques and strategies using Section 529 plans
Coverdell Educational Savings Accounts
Small business owner strategies
Retirement planning strategies
Income shifting to children-a revised strategy
Strategic estate planning advice integrated with income tax planning
Provider
Maryland Association of CPAs
Course Level
Basic
Professional Area of Focus
Tax
CPE Field of Study
Taxes
8
Who Should Attend
Public accountants, financial planners, attorneys, insurance agents, bankers