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Wednesday, August 19, 2020 Webcast

Surgent's Individual and Financial-Planning Tax Camp (E2008051)

8:30 AM - 4:30 PM EDT

Registration: 8:00 AM EDT

Webcast


8 CPE Credits in TX

OVERVIEW

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. This material is continuously updated for recent legislation impacting individual taxpayers.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

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

BENEFITS

  • 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
  • The SECURE Act, including IRA and RMD changes, reviewing beneficiaries, and discussing strategies to mitigate the elimination of the stretch IRA in light of new 2022 proposed regulations
  • Understanding the environment: what’s new, what’s expired or expiring, and what’s likely to change
  • Reviewing the temporarily increased meals and entertainment deduction
  • Reading a tax return for developing client-specific tax strategies
  • Will there be more changes in the individual tax laws?
  • Changes to the lifetime estate tax exemption by the TCJA in light of April 2022 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
  • Use of life insurance to protect families
  • 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
  • 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
  • Recent case law, as applicable
  • 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

HIGHLIGHTS

  • Comprehensive coverage of the SECURE Act 2.0
  • Understanding the environment: what’s new, what’s expired or expiring, and what’s likely to change
  • Reading a tax return for developing client-specific tax strategies
  • Will there be more changes in the individual tax laws?
  • Changes to the lifetime estate tax exemption in light of 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
  • 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 solvency issues
  • 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 acccounts
  • Recent case law, as applicable
  • 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

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in individual income tax planning and income tax return preparation

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for CFP Credit
  • Qualifies for IRS credit

INSTRUCTOR

Charles Borek

Charles A. Borek, CPA, J.D., M.B.A.

Surgent Professional Education

Charles A. (“Chuck”) Borek, CPA, J.D., M.B.A., Chuck Borek is the founder of the Borek Group, LLC, a professional education and consulting firm located in Columbia, Maryland, where he serves as CEO and chief counsel. In addition to his professional education and consulting activities, he continues to practice tax and business law as Of Counsel to the law firm of Davis, Agnor, Rapaport, & Skalny, LLC and regularly appears before the IRS and in U.S. Tax Court. He is an attorney, CPA, author, and frequent lecturer on a variety of topics associated with law, accounting, and taxation. Borek served as editor-in-chief of law review and was awarded the 1993 Law Faculty Award for outstanding scholarship, leadership, and service at the University of Baltimore. After practicing law for several years in Baltimore, he was appointed associate professor of accounting and business law at Prince George’s Community College and later served as a visiting assistant professor of law at the University of Baltimore School of Law and, following the conclusion of his visitorship, he practiced public accounting as a principal in a Washington D.C.-area CPA firm for five years. In 2015 and 2016, he received the Surgent Outstanding Discussion Leader Award because of his consistently high evaluations for knowledge and presentation skills. He currently holds an appointment as adjunct professor of law at American University’s Washington College of Law. Borek received his joint law degree and MBA summa cum laude from the University of Baltimore School of Law and Merrick School of Business.