Solving Financial Concerns (AIC)

  • Credits: 14
  • Format: Self-Study eBook
  • Field of Study: Federal Tax Law
  • Author/Speaker: Danny Santucci, CPA
Course ID: Advanced Preparation: Experience Level:
EWTFM-T-01793-21-S | 6233-CE-0514 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© April 2021 General Understanding of Taxes Self-Study eBook

This presentation integrates Federal Taxation with overall Financial Planning. The course will explore tax strategies relating to the central financial tactics of wealth building, capital preservation, and estate distribution. The result is a unified explanation of tax economics that will permit the Tax Professional to locate, analyze, and solve financial concerns. Designed to improve the quality of services to clients and the profitability of engagements, this program projects the accountant into the world of financial planning.

This course will give the participant practice in analyzing problems, developing solutions, and presenting final personal financial plans to clients. The emphasis is on practical simplicity in dealing with the self-employed and highly compensated individual.

Topics include:
  • Goals v. purposes
  • Investment purposes
  • Myths of retirement
  • Investment goals
  • Investment needs of five critical decades
  • Investment vehicles & entities
  • Retirement - the ultimate objective
  • Retirement costs & income needs
  • Retirement plan development
  • Basic planning elements

Learning Objectives:

After reading the course material, you will be able to:

  1. Identify short-term financial goals and investment purposes, recognize the importance of defining, listing, and prioritizing realistic goals specifying how investing allocation changes with age.
  2. Determine the tax consequences of title holding methods by:
    • Specifying ways to hold title to assets starting with the simplest and most direct way to hold property;
    • Cite the tax benefits and drawbacks of co-tenancies, corporations (both C & S), partnerships, qualified retirement plans, and trusts particularly as they relate to a client's after-tax investment return; and
    • Identifying custodianship under the uniform acts and determining how an estate can be tax beneficial to taxpayers.
  3. Recognize the impact of retirement planning postponement identifying the importance of early planning using the author's suggested step process, specify a balance sheet method to plan retirement, determine how to diversify portfolios by balancing liquid and nonliquid assets, and identify the purpose of savings and strategies to save.

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s: