Join Our Virtual Savvy Tax Planning School January 25–28
(Sessions will be recorded and replays will be available for 60 days)
Don’t let clients overpay taxes! Build loyalty, referrals, and profits when you add a tax focus to your planning business.
Albert Einstein once said that the“hardest thing in the world to understand is the income tax.”
And that’s before he faced the gravitational suck of RMDs, QCDs, and QBIs…
Is it any surprise that clients, even very successful ones, get a bit lost in space when it comes to taxes and retirement?
What clients badly need – and CPAs aren’t giving them – is a good dose of tax planning. Not tax preparation, which is a no-no, but tax planning, a totally compliant activity you offer every day whether you call it that or not.
After all, isn’t reducing clients’ tax liability and maximizing tax efficiency in their retirement plans a key aspect of your job?
It’s also the very definition of tax planning.
Yet so many advisors hesitate to talk about taxes despite how critical they are to any investment, financial, or retirement plan.
Taxes are too complicated, they say. Compliance is too strict. It’s easier… safer… prudent… to avoid the topic altogether.
Leaving clients to fend for themselves.
As a 2018 Nationwide survey reported,85% of pre-retirees expect you to help them plan for taxes. 38% will leave if you don’t.
If you’re ready own your value proposition and help clients with one of their most searing pain points, the 4-Day 2021 Savvy Tax Planning School can set you up for success… walking you through all the tax facts and strategies you need to help your clients minimize their exposure and improve their investment returns – compliantly!
It’s a killer value prop that promises to rock and roll. Spend time now getting sharper about taxes, and you’ll be set as word of your tax smarts spreads.
And word will spread! If there is one thing clients like to talk about more than the money they’ve made in the market, it’s the money they’ve saved in taxes… and the advisor who got them there.
That could be you!
TAKE YOUR TAX SKILLS & VALUE PROP TO A WHOLE NEW LEVEL
Taxes are often a make-or-break factor when it comes to business deals, investments, and retirement decisions.
They are also a searing pain point for high net worth clients who have the kind of income and assets that invite complicated tax situations.
Join us virtually on January 25-28, 2021 for a 4-day intensive immersion in tax planning where you’ll discover the skills, concepts, and strategies to assist these clients and position yourself as the go-to tax-smart advisor in your markets.
How Does a Virtual Workshop Work?
The workshop will be live-streamed and accessible from your computer/tablet
Attendees will be able to ask questions and interact throughout the presentation
Sessions will be recorded and replays will be available for 30 days
Workshop materials will be shipped to you
Holders of the CFP designation will qualify for CE credits (Note: To obtain credit you must either attend all the sessions live or take an assessment after viewing the replays.)
Here are some topics we'll dive into during our four-day workshops:
In just 8 sessions (spread out over four days), you’ll not only learn how to help your clients minimize their tax exposure, you’ll identify new investment and marketing opportunities.
Each session covers a critical tax planning concept explained through real life case studies, practice pointers, and expert insights.
Here is a partial list of the concepts you’ll discuss each session:
SESSION 1: HOW TO LEVERAGE THE NEW TAX ACT TO GET IN FRONT OF PROSPECTS AND BRING PEACE OF MIND TO CLIENTS
How changes in tax brackets and withholding amounts impact your clients
4 tax themes in the TCJA
Which clients still need to worry about the AMT and how you can help
How to compensate for reduced SALT deductions
Spotting opportunities for charitable contributions
Clients’ options for paying investment fees tax-efficiently
How to exercise stock options without triggering the AMT
How to compensate for “bracket creep” by timing certain credits and deductions
Why you should “bunch” charitable contributions, real estate taxes, mortgage payments, and other expenses every other year
SESSION 2: FAMILY ISSUES AND TAXES: THE BIG CHANGES THAT IMPACT YOUR CLIENTS THE MOST
Who benefits most from the doubling of the child tax credit and what it means for high-earning families
How you can help families with kids manage the kiddie tax and expanded 529s
Why alimony just got a lot trickier and what that means for clients, especially those going through a gray divorce
How advisors should think about “the full cost” of divorce for clients and working with divorce attorneys and mediators
New rules on how to handle loans from 401(k)s
What the loss of recharacterization affects Roth planning
Why you still need to do estate planning even with the expanded exemption amount
Why it may be smarter for the low-income spouse to receive an IRA transfer or property settlement instead of child support
SESSION 3: UPDATES FROM THE SECURE AND CARES ACTS
What the CARES Act means for your clients and prospects
10 changes every advisor should know about the Secure Act
Changes to post-death required minimum distributions for beneficiaries
The repeal of the maximum age for RMDs and the new anti-abuse QCD rule
How the SECURE Act opened the door to Open MEPs
Important areas to discuss with clients when reviewing retirement plans
Opportunities for advisors and strategies to build your business with the SECURE Act
SESSION 4: UNDERSTANDING THE KEY TAX CHANGES OF INTEREST TO BUSINESS OWNERS
How business-owning clients (and yourself!) can take advantage of the 20% QBI deduction for pass-through income
The 80/50 rule for determining SSTBs
Determining whether a business is a specified service trade or business (SSTB)
Does it make sense to restructure a business to take advantage of the new code, and how that would work?
Why business owners need to consider switching to a Roth 401(k) plan
How to deduct eligible home office expenses from self-employment income
The safe harbor option small taxpayers can use to avoid capitalizing certain property expenditures
Basic mechanics of the 199A deduction
The 80/50 rule for determining SSTBs
Saving QBI by bringing contract labor in-house
How to determine owners" salaries for different types of business entities
SESSION 5: SOCIAL SECURITY, MEDICARE, AND TAXES
How income affects Social Security taxes—and what you can do to manage the bill
Working and Social Security—the good, the bad, the ugly
Medicare IRMAA cliff brackets and how they can double or triple an effective tax rate
Strategies for managing IRMAA and how you might be able to appeal a decision
What to tell clients so they stay clear of Medicare coverage gaps and late penalties
What are the health insurance options for early retirement?
How to calculate Social Security MAGI.
Why the Social Security taxation formula can lead to a “tax torpedo”
SESSION 6: TAX PLANNING IN PRE/EARLY RETIREMENT
Why conventional drawdown strategies are no longer a good rule of thumb—and what you should do instead
How to use QCDs to get around RMDS and reduce Medicare premiums
An easy formula for determining the percentage to contribute to Traditional IRAs vs. Roth IRAs
How to “fill the bracket” with partial Roth conversions and stay at the income tax level clients want
How Roth conversions can create “Deduction Production”
3 key steps to take before making a Roth conversion
3 follow-up steps to take after making a Roth conversion
How to capture the triple tax benefit of HSAs
SESSION 7: ESTATE PLANNING AND TAXES
10 estate planning issues to review with every high net worth client
Common inheritance mistakes and how to avoid them
What you can do to minimize taxes with stock inheritances
Should you use IRA money or insurance to pay for long-term care?
How to avoid the Widow"s Penalty
Best ways to transfer assets before and after death
How to use the “Beneficiary Tax Benefit Multiplier” to protect large IRAs and maximize lower brackets
How a well-timed Roth conversion can save on estate taxes
Maximizing step-up in basis using pre-death asset transfers
SESSION 8: MARKETING YOUR NEW TAX EXPERTISE
Finding your market: Targeting pre-retirees with large IRA balances
The 11 types of clients to target for Roth conversions
Best practices for promoting your tax planning services
Hosting workshops: how to find the space, deal with questions, book appointments
How to follow-up with prospects after your tax planning workshop
How to best approach & collaborate with clients' CPAs and attorneys
How to present and follow-up with strategic allies and centers-of-influence
Marketing emails & communications you can send 2-3 times a year to generate new business and referrals
10 tax strategies to discuss with almost every client
How to conduct an annual Tax Analysis that identifies liquidity events and assesses clients' tax exposure
Client approaches—how (and when) to start the conversation
Software—the good, the bad, and what you have to do yourself for now
Different models of charging for your tax planning services—what works best for you?
20+ questions to ask yourself when reviewing clients' cases
How an annual beneficiary review helps your clients and your business
Why you need to talk about Roth IRAs with ALL your clients
SAVVY TAX PLANNING PAYS OFF FAST!
The hallmark of great advisor-training workshops are the amount of “Aha!” moments you experience. This workshop is jam-packed with epiphanies that are going get you in front of wealthier clients immediately. At the Savvy Tax Planning School, your four days will be filled with “aha!” ideas you can put to use immediately your first week back. Don’t take my word for it.
Here’s what past workshop attendees say:
TAXES ARE HITTING OUR CLIENTS ESPECIALLY HARD
“Tax planning is a big issue now as more and more of our clients are hitting retirement and we’re dealing with distribution planning where the tax becomes more and more critical.
“We need to focus on a more active Roth conversion strategy during the client’s working career, maybe even early in retirement. I think an entire tax strategy combined with the overall financial planning process is the critical piece we need to enhance.
“So making sure we fill up the brackets… making sure we’re thinking about next generation planning, survivorship planning, widow planning, things that really hadn’t come up in other discussions… these are the big things we’re going to be focusing on going forward.
“Dealing with the tax experts here at the workshop has really opened my eyes to the opportunities available.”
THE POWER OF ROTH CONVERSIONS
“Take the Roth conversion concept for existing 401(k) owners… I’ve had a few clients who have fought it and CPAs that have fought it. I’m going to go in there with my guns loaded a little bit better and insist that it’s really a lot.
—David Smith, South Miami, FL
ADDING VALUE THROUGH THE TAX RETURN
“There are so many people who are not aware of what’s going on in their 401k or how valuable Roths can be in wealth conversions. We talked a lot about the Widow’s Penalty. I have a lot of single women clients, so I think this would add a lot of value. And just overall when I look at my client base… a lot of them are coming of age to start Social Security and Medicare. How that is going to trickle over to their tax return is so valuable for the client.”
—Jean Riordan, Poughkeepsie, NY
TAX DIVERSIFICATION SAVES RETIREMENT
“What was most valuable was really talking about tax diversification in retirement. I understand that one of the major expenses in retirement is taxation and clients who retire with 401ks are going to be fully taxed… or fully whacked, as I call it… and we need to plan around that. It’s so important to make sure clients are tax diversified in retirement.”
—Injil Muhammad, New York, NY
HELPING BUSINESS OWNERS UNDERSTAND THEIR NUMBERS
“I found most valuable the section regarding business owners. In my practice, people hire me to be their CFO. So looking at a business profit and loss statement helps me understand how I can better utilize this information to inform my clients.”
—Carol O’Neil, Lake Worth, FL
EVERYBODY HAS A TAX ISSUE
“I want to talk to every client about tax planning, whether it’s in its simplest format or more complex. And also talk to them about asset placement within the investment portfolio as well as Roth and IRA planning for the future.”
—Bob Morrison, Greenwood Village, CO
BETTER COMMUNICATION WITH CLIENTS
“I attended the workshop in order to get better content for our client base as we move more from general planning into tax planning.
“The content was so deep, and they got into many, many topics that were very helpful to me to explain to some of my clients.
"Over the last few months, more and more clients have had a lot of questions about the Secure Actand what it might mean to them. I felt there was a perfect tie in with the seminar.”
Christopher Jordan, Tarrytown, NY
YOUR WORKSHOP INSTRUCTORS: 2 INDUSTRY ROCKSTARS!
Jeff Levine and Debra Taylor know exactly what it takes to build a business on tax planning yet stay fully compliant.
Each founded and oversees their own wealth management firm, successfully managing the assets of business owners, senior execs, pre-retirees, medical professionals, and other wealthy investors.
They are sharp, credentialed advisors who might have started out as CPAs, but quickly moved into financial advice when they saw the pent-up demand for holistic planning and tax planning services. They are powerhouses in the industry and very scary competitors if you’re working in their markets.
JEFFREY LEVINE, CPA/PFS, CFP®, CWS®, MSA
Jeff is the Director of Advanced Planning at Buckingham Wealth Partners, a Registered Investment Adviser, and as Director of Advisor Education for Kitces.com, a leading online resource for financial planning professionals.
Previously, Jeff worked as Ed Slott & Company’s chief retirement strategist, traveling the country each year to educate thousands of advisors, CPAs, attorneys, and consumers on retirement, tax, and estate planning strategies.
Jeff is a recipient of the Standing Ovation award, presented by the AICPA Financial Planning Division for “exemplary professional achievement in personal financial planning services.” He was also named to the 2017 class of 40 Under 40 by Investment News, which recognizes “accomplishment, contribution to the financial advice industry, leadership and promise for the future.”
In addition to developing Savvy IRA Planning and Savvy Tax Planning for Horsesmouth, Jeff can be seen on CNBC, Fox Business News, CBS and Public Television, and is frequently quoted in The Wall Street Journal, USA Today, Kiplinger’s, the New York Times, Investment News, Forbes, Market Watch and Money Magazine.
JEFF'S GOALS FOR THE 2021 WORKSHOPS
“I have three goals, or hopes, for advisers when they go back to their own practice after this workshop.
“The first is that they understand a lot of the rules better themselves. There are some nuances to the law that are really challenging, and they need to understand those better.
“Second, I want them to be able to then communicate those nuances and the challenges of the law better to their clients. Maybe they’ve picked up a new way to phrase something or an analogy… just a better way of explaining it… so their clients understand. The more people understand, the more likely they are to take action.
“And then I hope people use this information to go out and get new relationships, where they can help new individuals, more families and their communities.”
DEBRA TAYLOR, CPA/PFS, JD, CDFA
Debbie Taylor is the principal and founder of Taylor Financial Group, LLC, a fullservice wealth management firm located in Franklin Lakes, NJ. Debra’s education and career has spanned many disciplines including legal and public accounting.
From 2007-2016, Debbie was named to the Chairman’s Club of LPL Financial, a distinction bestowed on only the top 6% of LPL’s more than 14,000 advisors.
She is the co-creator of Horsesmouth’s Savvy Tax Planning program and the author of Horsesmouth’s top-selling practice management book, My Journey to 1 Million: The Systems and Processes That Will Get You There. She also teaches the practice management workshop “Million-Dollar Solutions.” Debra has been featured on national TV and is often quoted in national publications such as Barron’s, Smart Money, and The Wall Street Journal. She has led a robust schedule of consumer financial education workshops for many years and also regularly presents to financial advisors at national conferences.
DEBBIE'S GOALS FOR THE 2021 WORKSHOPS
“This workshop helps advisors get a basic understanding of the tax laws and how it can affect their clients.
“There are a lot of things I want to share with advisors in this workshop.
“I want attendees to have some creative ideas. Because bringing those creative ideas to the table and making a difference in clients’ lives is what helps you to bring on new clients. It also helps your existing clients truly value what you’re doing. They’ll want to stay around a long time to benefit from it.
“I’m hoping to give our attendees practical tools, and ideas to bring back to their office and implement what we’ve discussed.”
“Years ago we would engage in unnatural acts regarding estate planning, doing all kinds of trusts. Today income taxes are front and center. They’ve become very politicized. Clients are hearing about it more and more and advisors need help on how to navigate this very complex and always changing landscape.
WHAT PAST WORKSHOP ATTENDEES SAY ABOUT DEBBIE AND JEFF:
"THE ENERGY LEVEL IS INCREDIBLE!"
“They take a topic that normally might be a little boring, but they take it and make it fun. They have a lot of great analogies that I will take with me to use when I’m explaining to clients.”
—Jean Riordan, Poughkeepsie, NY
"87 POINTS IN THE FIRST DAY!"
“I take notes, voluminous notes, during these conferences and I think there’s 87 different points that I’ve already picked up through the first day. I may have to buy another notebook.”
Daniel Cuddy, Auburn, NY
"GREAT PRACTICAL KNOWLEDGE!"
“They were both great high energy presenters. They had a lot of great practical knowledge and they were able to pause from the slides and take questions and really integrate it for a great group meeting.”
Christopher Jordan, Tarrytown, NY
"YOU'VE GOT TO BE ON YOUR TOES!"
“The pace is very quick, so you’ve got to be on your toes. Everything’s very well organized. I appreciate their effort to stay on task and on time.”
—Kurt Wanner, Everette, WA
"THESE GUYS ARE ROCKSTARS!"
"Jeff can dig into anything and still be excited about it which keeps everyone awake in the room. And Debbie's got the practical experience I think of being an advisor by day, even though she grew up in a tax practice. She can see the planning aspects… the marketing aspects.”
—Michael Egan, Vienna, VA
Day One- Monday, January 25, 2021
Session 1: Major Changes From the Tax Cuts and Jobs Act
12:00-1:30 pm EST/9:00 – 10:30 am PT
1:30-1:45 pm EST/10:30-10:45 am PT
Session 2: Home and Family Issues
1:45-3:00 pm EST/10:45 am- 12:00 pm PT
Day Two- Tuesday, January 26, 2021
Session 3: Updates From the SECURE and CARES Act
12:00-1:15 pm EST/ 9:00-10:15 am PT
1:15-1:30 pm EST/ 10:15-10:30 am PT
Session 4: Understanding the Key Tax Changes of Interest to Business Owners
1:30 -2:15 pm EST/ 10:30-11:15 am PT
Session 5: Social Security, Medicare, and Taxes
2:15-3:00 pm EST/11:15 am- 12:00 pm PT
Day Three- Wednesday, January 27, 2021
Session 6: Tax Planning in Pre/Early Retirement
12:00-1:15 pm EST/9:00-10:15 am PT
1:15-1:30 pm EST/10:15-10:30 am PT
Session 7: Taxes During Retirement and Thinking about Estate Planning
1:30-3:00 pm EST/10:30 am- 12:00 pm PT
Day Four-Thursday, January 28, 2021
Session 8: Technology and Marketing Your Expertise
12:00-3:00 pm EST/9:00 am-12:00 pm PT
Holders of the CFP® designation will qualify for 11.5 CE credits. (Note: In order to receive credit you must attend the sessions live or take an assessment after watching the video replays.)
Sign up for Savvy Tax Planning School Today. Your ability to deliver proactive tax strategies – to working clients and retirees – will help them avoid costly mistakes, minimize tax surprises, and boost their satisfaction with your services!
As Albert Einstein once said, “If you can’t explain it simply, you don’t understand it well enough.” He also said, “Any fool can know. The point is to understand.” Spend four days with our rockstar advisors learning everything you need to know about smart tax planning, and you’ll be able to talk taxes as an expert with your clients and their CPAs.
SIGN UP TODAY! ACT NOW AND RECEIVE 2 VALUABLE BONUSES!
BONUS #1 Full membership in the Savvy Tax Planning Program – a year-long marketing and expert support service offering three FINRA-reviewed client-facing PowerPoint presentations you can give at events or webinars, client handouts, reference guides, and a a private website alerting you to the latest developments in tax planning along with a monthly newsletter from Debbie and Jeff.
BONUS #2 Next Steps, One-on-One Action Plan Coaching Session (30 minutes). Take immediate steps to put your learning into action. After you’ve returned home, get a complimentary coaching session with Horsesmouth’s Executive Coach Chris Holman. Meet with Chris over the phone for 30 minutes to discuss your key takeaways from the workshop, your goals, and a plan to guide your next steps.
If you do one thing in 2021 to invest in your business, start by investing in yourself with a 4-day immersion into tax planning.
You don’t have to be an Einstein, a mathematician, or even a CPA to help clients avoid tax minefields!
But your clients will think you are! And that’s enough to get you in front of a whole new class of clients and prospects in 2021.
Sean M. Bailey
Editor in Chief Horsesmouth
(888) 336-6884 ext.1
P.S. Get ready for recovery planning with an investment in your tax education! Once you get a handle on tax planning, you’ll not only save your clients serious money, you’ll lower your own taxes as well. Everybody wins!
Since 1997, Horsesmouth has been helping financial advisors succeed by providing timely guidance on key topics such as business development, practice management, financial planning and investment strategies.
FOR INSTANT SERVICE Call Toll Free: 1-888-336-6884 ext 1 (Outside U.S.: 1-212-343-8760)