Financial Tax Planning - 3 CPE Credit Hours

After reading the materials, participants will be able to:

1. Critique investment purposes and retirement misconceptions, and assist clients in implementing the five-step retirement process and in identifying the three basic elements of investment planning.

2. Identify four types of income, from a tax perspective, to be budgeted into cash so that income-producing assets can be acquired and managed for an effective investment plan.

3. Discover at least three means of achieving tax deferral, including like-kind exchanges, retirement plans and installment sales, and realize a double financial benefit of not only tax postponement like an "interest-free loan" but even possible tax elimination.

4. Illustrate how to use tax credits, estimated taxes, and basic deductions to effectively reduce federal income tax and thereby increase discretionary income for investment purposes.

5. Explain six major formats for income splitting that can benefit taxpayers by lowering overall taxes as a unit and permitting wealth and tax allocation among individuals or entities.

6. Use the benefits of the $500,000 home sales exclusion, municipal bonds, divorce and separation settlements, gifts and inheritances, life insurance, fringe benefits, and Social Security to eliminate tax on realized gain and ordinary income

Customer Reviews:

Excellent course. It is written with income tax and estate tax considerations in mind.

One item needs updating:
Current Social Security full retirement age is 66 not 65, but rules for different retirement ages for different birth years are well explained.