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 seminar will explore various techniques for different net worth/income levels of generations.
CPAs who provide tax and financial advice to clients within multiple-generation family structures.
- 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
- 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
- Elder care planning
- 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
- 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
Prior experience in advising clients on individual and financial planning issues.
- This seminar qualifies for CFP credit.
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Registrations will be accepted at the door.
Scott Emerson, Enrolled Agent
Surgent Professional Education
Scott Emerson was a revenue agent for the Internal Revenue Service for 28 years. He has instructed both continuing professional education seminars and continuing legal education seminars for agents and attorneys with the IRS. He also has taught numerous IRS tax courses throughout his career. He incorporates real-life examples and historical perspective to interpret tax concepts. In 2015, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. Prior to his retirement, Scott was the Trust Technical Advisor with the IRS for the last nine years. He has extensive experience with the interrelationships between trusts and related returns. He has been recognized as a trust expert in several district courts for both domestic and foreign trusts. He has been confirmed as a trust expert in two U.S. appeals court’s decisions. His background also includes working with Department of Justice and U.S. Attorney Offices throughout the country. Mr. Emerson is a graduate of Miami (Ohio) University, with a degree in accountancy.
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