Getting Ahead of the Biden Administration's Tax Proposals
Learn the critical developments in the Biden administration's tax proposals that you need to be thinking and talking about with clients.
Format
Webcast
NASBA Field of Study
Specialized Knowledge
Level
Intermediate
CPE Credits
2
Instructor
Robert S. Keebler
Availability
3 months
Product Number
WC3192539
Changes on the horizon
President Biden recently announced his individual tax proposals, which will potentially include a 39.6% long-term capital gain rate, gain realization at death and for gifts, along with significant changes to the estate, gift and GST provisions of the tax law.
Join this webcast to learn:
- The individual tax changes that may be on the horizon
- The estate and gift proposals that will have the highest impact on your clients
- How to plan around the gain realization provisions
- What to do with the increase in the tax rate to 39.6%
- How to understand the 21- and 30-year gain rule for existing and new trusts
- How to use charitable remainder trusts to smooth out income
- Best planning ideas in 2021, including timing ideas, charitable gifts, harvesting gains and Roth conversions
- The pros and cons of various planning strategies
Key Topics
- Tax, estate and charitable planning
- The reduction in the benefit of itemized deductions, retirement contributions and charitable gifts
- Potential of market-to-market taxation
- IRC §453 sales to control capital gains
- New IRC §6168 payment election
- Practice management
Learning Outcomes
- Distinguish the individual tax changes that may be on the horizon.
- Identify the estate and gift proposals that will have the highest impact on your clients.
- Determine the gain realization provisions and how to plan around these.
- Choose the best planning ideas for your clients based on what we know now.
- Differentiate the pros and cons of various planning strategies.
Who Will Benefit
- CPAs
- Financial planners
- Tax professionals
- Other qualified professionals
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