Effective tax planning requires more than minimizing a client’s tax liability this year. For financial advisors serving affluent clients, the greatest opportunities often come from anticipating how today’s tax decisions will affect retirement income, future required minimum distributions, and wealth transferred to the next generation. As clients transition from accumulating assets to distributing and transferring wealth, advisors must identify opportunities to reduce lifetime taxes while navigating increasingly complex tax rules.
In this session, Debra Taylor, CPA/PFS, JD, explores tax planning strategies across four stages of life: accumulation, pre-retirement, early retirement, and late life and legacy. Through detailed case studies, Taylor demonstrates how asset location, Roth contributions and conversions, state residency planning, qualified charitable distributions, and strategic asset titling can improve long-term after-tax outcomes. The session also examines the tax implications of Trump accounts, the potential benefits of Roth conversions during market declines and lower-income years, and strategies for mitigating the widow’s penalty and the tax burden on inherited retirement accounts.
Learning Objectives:
- Evaluate how asset location, tax diversification, and early Roth conversion strategies influence long-term wealth accumulation and future tax liabilities.
- Analyze the tax implications of state residency changes and the timing of Roth conversions during pre-retirement, including the interaction between state and federal taxes.
- Develop multi-year Roth conversion strategies that account for projected tax brackets, required minimum distributions, survivor filing status, and inherited retirement accounts.
- Compare qualified charitable distributions with cash donations and gifts of appreciated securities to determine their effects on taxable income, deductions, and Medicare premiums.
- Assess late-life tax planning opportunities involving asset titling, basis step-up, the widow’s penalty, and Roth conversions during the final year of joint filing.
Accessing the webinar:
You can find your custom link by accessing the email confirmations that have been sent to you via email from webinar.host@bigmarker.com. You can also find your individual sign-on link within the downloadable calendar invite for the webinar.
Continuing Education (CE): 1.5 Credits
For attendees who want to receive CE credit for designations managed by the CFP Board, IWI, and American College, we will report your attendance directly to these organizations within 72 hours as long as you enter your certification numbers during registration and attend the live session for at least 75 minutes.
For attendees who want to receive CE credit as an Investment Adviser Representative (IAR), we will report your attendance directly to FINRA within 72 hours as long as you enter your certification numbers during registration and attend the live session for at least 75 minutes. Additionally, Kitces Members must have purchased the IAR Add-on to have their CE reported to FINRA as an IAR.
NASAA does not endorse any particular provider of CE courses. The content of the course and any views expressed are my/our own and do not necessarily reflect the views of NASAA or any of its member jurisdictions
For attendees who want to receive CE credit as a Certified Public Accountant (CPA), you must attend the live session for at least 75 minutes and complete all polls presented at the live event. A certificate will be provided to you for self-reporting to NASBA.
All attendees who meet the minimum attendance requirement of 75 minutes will also receive a completion certificate that you can use to report CE to other organizations. We don't report for state-level insurance licensing although some states may accept completion certificates if you self-report.
Recordings:
Non-Members: Those who are NOT Kitces.com Members will have access to the recording for 30 days. Though continuing education is available for the live session, the recording is not CE eligible.
Kitces.com Basic & Premier Members: The video presentation and a recording of the live Q&A will be available on the Webinars page in the Members Section. Note: If you were not able to attend the live session for the full 50 minutes, successful completion of a quiz will be required in order to receive CE for viewing the RECORDED VERSION posted to the Members Section.
