Manage Your Tax Bill For 2020 and Beyond!

4.6 (65)

Daven Sharma

Abundance Advise

Wednesday, February 17, 2021 | 03:00 PM EST

  • AFSP
  • CPA
  • EA
  • PFS
  • CTEC

1 CPE | 1 CE

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CPE credit of Maryland Tax Related Subjects for Maryland Tax Preparers

1 CPD credit (Verifiable) for CPA/PFS

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

1 CE credit of Federal Tax Update for Oregon Tax Preparers

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

In light of the recent tax reforms, this webinar explores some of the major changes for 2020 and some different strategies for managing through them!

Generally, there are two strategies to choose from in any given tax year. You either want to minimize the income you report to the government in order to reduce your tax bill. Or in certain circumstances, you will want to accelerate income into a year – especially if it is a low-income year and you anticipate higher tax rates in the future. For most of us, we want to minimize our tax bill and most of the techniques we will discuss today center around that. 

However, some years you may want to accelerate income – and there are numerous techniques for that. But definitely talk to your CPA and financial advisor before you start buying or selling. Or talk to us. Pushing income from year to year can get tricky and it helps to have expert guidance.

Given all that, let's talk about some ideas for minimizing your tax bill. Of course, we cannot say with any certainty which one of these ideas will work for you. It all depends on variables that are unique to you and your family.  But these next suggestions are good places to start in managing this year's tax bill.

Key topics:

  • The new 2020 tax rates and brackets 
  • Changes to the tax rules. 
  • Strategies for managing your taxes and provide a few ideas for managing your tax bill.
  • Allocating new money in assets tax efficiently
  • Investing in a Health Savings Account
  • Review Distributions from Trusts & Estates
  • Net Investment Income Tax (NIIT) 
  • All about Deductions and Exemptions

Learning Objectives

  • To summarize the 2020 Tax Brackets and Rates
  • To summarize the 2020 Long Term Capital Gains and Rates
  • To identify techniques for managing tax bill
  • To illustrate Tax Efficient Investing strategies
  • To discuss tax benefits of investing in Health Savings Account
  • To plan for distribution from Trusts & Estates

Who Should Attend?

  • Enrolled Agent
  • Tax Attorney
  • Tax Practitioners
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Pros
  • CPA (Industry)
  • Tax Firm
  • Young CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Senior Accountant
  • Tax Managers
  • Accounting Managers
  • Tax Preparer
  • Staff of Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers
  • Tax Professionals

Testimonial

4.6

(65)
65%
28%
6%
2%
0%

SO

GOOD

CN

great topic; great speaker. would have liked more time so speaker could address examples/questions

VP

Clear and concise information

CH

good

EG

Great review course. Reminded me of points I had forgotten or overlooked

PC

Very good overall discussion of taxes as it relates to wealth management.