49 Ways to Reduce Taxes for Individuals and Make Them Clients for Life

Accreditation Information

NASBA Delivery QAS Self-Study

NASBA Field of Study Taxes 10 hours

NASBA National Registry of CPE SponsorsYes

NASBA Publication Revision Date 09/2021

Other Certifications

NY Credits : 10.0
TX Credits : 10.0
IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 10.0
IRS Non-Credentialed Return Preparer Credits : Federal Tax - 10.0

Details by Jurisdiction

Format :Online & Mobile

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Course outline

Tax Tips for Investors in an Uncertain Environment
1. Tip 1A: Evaluating Federal Tax Uncertainties
2. Tip No. 1: Take Advantage of Lower Individual Tax Rates While They Last
3. Tip No. 2: Take Advantage of 0% Tax Rate for Long-Term Gains and Dividends While It Lasts
4. Tip No. 3: Managing Capital Losses and Capital Loss Carryovers
5. Tip No. 4: Managing Section 1231 Losses
6. Tip No. 5: Locking in Beneficial Tax Treatment for Day Traders
7. Tip No. 6: Taking Advantage of Favorable Tax Treatment of Broad-Based Stock Index Options
Tax Tips for Retirement Accounts in an Uncertain Environment
1. Tip No. 7: Determining the Tax Treatment of Traditional IRA Withdrawals
2. Tip No. 8: Determining the Tax Treatment of Roth IRA Withdrawals (Some May Be Taxable)
3. Tip No. 9: Avoiding the 10% Penalty Tax on Early IRA Withdrawals
4. Tip No. 10: Avoiding the 10% Penalty Tax on Early Qualified Retirement Plan Withdrawals
5. Tip No. 11: Doing Retirement Account Rollovers the Tax-Smart Way
6. Tip No. 12: Avoiding the One-IRA-Rollover-Per-Year Limitation
7. Tip No. 13: Taking Advantage of IRA Rollover Privilege for Non-Spousal Qualified Retirement Plan Beneficiaries
8. Tip No. 14: Understanding How SECURE Act Changes Affect Retirement Savers
9. Tip No. 15: Understanding SECURE Act Change That Seriously Injured the Stretch IRA Strategy
10. Tip No. 16: Evaluating Alternatives to the Now-Injured Stretch IRA Estate Planning Strategy
Tax Tips for Homeowners and Real Estate Investors in an Uncertain Environment
1. Tip No. 17: Deducting Home Mortgage Interest and Property Taxes under the TCJA
2. Tip No. 18: Dealing with TCJA Changes Affecting Rental Real Estate Investors
3. Tip No. 19: Handling Rental Real Estate Losses
4. Tip No. 20: Planning to Avoid the PAL Rules for Rental Real Estate Losses
5. Tip No. 21: Full Details on How to Take Advantage of Real Estate Professional Exception to PAL Rules
6. Tip No. 22: Slashing Taxes on Appreciated Land with S Corporation Developer Entity Strategy
7. Tip No. 23: While It Lasts, Reverse Mortgage Strategy Can Be Tax-Smart Deal for Seniors with Greatly Appreciated Homes
8. Tip No. 24: Taking Advantage of Principal Residence Gain Exclusion Break in Divorce Situations
Tax Tips for Education Expenses
1. Tip No. 25: Collecting Tax-Free Employer Benefits for Work-Related Education Expenses (Plans A and B)
2. Tip No. 26: Claiming Tax Credits for Work-Related Education Expenses (Plan C)
3. Tip No. 27: Understanding the TCJA Suspension of Unreimbursed Employee Business Expense Deductions for Work-Related Education Costs
4. Tip No. 28: Claiming Business Write-offs for Self-Employed Work-Related Education Expenses (Plan D)
5. Tip No. 29: Undergraduate Degree Costs Cannot Be Deducted as Work-Related Business Expenses
6. Tip No. 30: MBA Costs Can Often Be Deducted as Self-Employed Work-Related Business Expenses
7. Tip No. 31: Deducting College Expenses Paid for Owner's Employee-Child
8. Tip No. 32: Understanding Five Important Things about Section 529 Plan Account Withdrawals
9. Tip No. 33: Understanding the Tax Treatment of College Financial Aid Benefits
10. Tip No. 34: Understanding When Tax-Free Treatment Is Available for Student Loan Cancellations
11. Tip No. 35: Taking Advantage of Tax-Free Treatment for Employer Section 127 Plan Payments Towards Employee Student Loans
Tax Tips for Families in Uncertain Economic Times
1. Tip No. 36: Encouraging Clients to Take Advantage of Tax-Saving Arrangements at Work
2. Tip No. 37: Deciding if Client's Spouse Should Work
3. Tip No. 38: Claiming Head of Household Filing Status and CDCC Based on Supporting a Relative
4. Tip No. 39: Deducting Supported Relative's Medical Expenses
5. Tip No. 40: Claiming Medical Expense Deductions for Continuing Care Retirement Community Costs
6. Tip No. 41: Understanding ARPA Changes for Three Potentially Lucrative Family Tax Credits
Estate and Gift Tax Tips
1. Tip No. 42: Take Advantage of Super-Favorable Federal Estate and Gift Tax Regime While It Lasts
2. Tip No. 43: Updated Estate and Gift Tax Planning Strategies for Unmarried Individuals
3. Tip No. 44: Updated Estate and Gift Tax Planning Moves for Married Couples
4. Tip No. 45: What Will Happen to Well-Off Clients If the TCJA Estate and Gift Tax Regime Is Trashed?
5. Tip No. 46: Watch out for Generation-Skipping Transfer Tax (GSTT)
6. Tip No. 47: Taking Advantage of IRA Qualified Charitable Distributions (for Clients Age 70 1/2 and Older)
7. Tip No. 48: Estate Planning with 529 Accounts
8. Tip No. 49: Estate Planning for the Rest of Us

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