New Tax Law Workshop

INTENSIVE 1-DAY ADVISOR WORKSHOP

Demystify the New Tax Act! Educate Prospects and Unlock Profitable Opportunities for You and Your Clients Now!

Debra Taylor

It’s not about “tedious taxes”…It’s about leveraging the tax act for bigger purposes!

“I know what some advisors might be thinking: ‘Urggh, I don't need a full day of advanced and tedious tax stuff.’ But, this is something different. It isn't about taxes. It's about leveraging the new Tax Act for a bigger purpose.

It's about knowing enough about the new Tax Act to climb up the value chain, differentiate yourself, serve your clients well, pull in new clients, and develop relationships with CPAs.”

—Debra Taylor, CPA/PFS, JD, Wealth Manager and Certified Divorce Financial Analyst

Tax planning is a must-have skill for advisors serving affluent clients—all clients, really.

THE SITUATION

  • Taxes are at the heart of saving, investing, and planning…
  • 66% of HNW clients want advisors to discuss tax strategies …
  • The new tax law contains more than 20 key changes that can either help or hurt every person, family, and business in the country…
  • Advisors face a once-in-a-generation opportunity to demonstrate knowledge, expertise, and leadership on this critical issue…

THE SOLUTION

  • Attend our one-day workshop and learn the key financial planning strategies to introduce to your clients who want to maximize their benefits under the new tax rules…
  • Understand what investment strategies will best take advantage of the new tax rules…
  • Get clarity on what products and other services will best assist your clients in the new tax environment...
  • Learn how to use the new tax rules to collaborate with accountants and attorneys and give your clients five-star advice…
  • Learn to maximize your one-on-one meeting appointments coming out of presenting The New Tax Law Briefing presentation.

What You’ll Learn in Our One-Day Tax Workshop

Tax Workshop Introduction and Goals

The New Tax Act is far-reaching and will provide many planning challenges and opportunities for years to come. There are, after all, more than 20 significant changes to the code that advisors must navigate for their clients! However, we will break down these changes and give you specific action items in connection with the New Tax Act.

We will address your unanswered questions about the New Tax Act:

  • What do I need to know about the New Tax Act?
  • How can I use the New Tax Act to prospect?
  • How can I coordinate and connect with CPA’s?
  • How can I use the New Tax Act to add value for my clients?
  • And many more…

We’ll start with an overview of the tax changes and lay out what you’ll learn and why it’s so important for you to fully understand the New Tax Act’s impact on clients and their financial plans.

We’ll discuss why the New Tax Act is a double-edged sword and explore the different benefits and detriments for clients. We will also review what we’re seeing regarding early impacts of the tax cuts.

Naturally, we’ll also address the “advisors’ can’t give tax advice” hogwash so you have a clearer view of why this thinking is outmoded.

This is need-to-know material and offers 8.5 CE credits for those with the CFP designation.

Session One:

Making Sense of the New Deduction Rules and Tax Rates

Many well-known, even beloved, deductions have disappeared from the code. Approaches your clients have taken in regard to their taxes in the past just won’t work now. We’ll examine what was lost and how these changes will flow through and impact your clients’ taxable income. We’ll discuss best practices for guiding clients in this area and explore how you can adjust their investment strategies and financial plans.

This session will address:

  • How changes in the tax brackets and withholding amounts affect your clients, and steps you can take to assist them
  • Which clients still need to worry about the AMT, and how you can help them
  • Why the term "bunching deductions" will become important and how best to help make this happen for clients
  • The steps your clients need to take now to be able to deduct more out-of-pocket medical expenses
  • How the inflation measure has changed and and how that will impact your clients
  • New incentives and disincentives for clients to make charitable contributions
  • Your clients' options for paying investment fees and being tax-efficient

Session Two:

Family Issues and Taxes: The Big Changes That Impact Your Clients the Most

There’s a lot in the new code that impacts families and their homes. Changes impact children, schooling, high-earning couples, divorce, retirement, and estate planning, among other topics. This is the meat of much of the new tax code. We’ll look at each issue, examine its moving parts and address key actions and planning you’ll want to consider for your clients. Plus, we’ll explore the extra-difficult situation of families living in high-tax SALT states.

This session will address:

  • 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 – expanded 529s and changes to the kiddie tax
  • Why alimony just got a lot trickier and what that means for clients, especially those going through gray divorce
  • How advisors should think about “the full cost” of divorce for clients and working with divorce attorneys and mediators
  • Roth conversions and how they need to be approached in the new tax environment and how Roth accounts and traditional IRAs remain important retirement planning tools
  • New rules on how to handle loans from 401(k)s
  • What your clients need to address immediately regarding their estate plan now that the exemption has been doubled. 
  • Why wills, trusts, and estate plans need to be reviewed
  • What the loss of full SALT deductibility means for you and your clients. Will it wipe out gains on other tax fronts?
  • Complexities of mortgage interest deductions – what's grandfathered and what's not
  • How your clients can still take advantage of home equity loan interest deductions
  • What is the state of home mortgage interest deduction? What does it mean when you can’t fully deduct anymore? How does it impact second, vacation homes and rental properties?
  • Pros and cons of pursing new strategies to help finance children’s private school education
  • Should people consider prioritizing paying off their mortgages fast?
  • New estate planning opportunities in light of the expanded estate tax exemption
  • How the sun setting of certain provisions after 2025 complicates matters

Session Three:

Understanding the Key Tax Changes of Interest to Business Owners

Any business owner, whether he or she has a small, medium, or large entity, is going to want to have serious conversations about the new rules and how they impact them and their organizations. The business portion of the code is expansive, and many businesses will have their own professionals to fully explore it. But there are three things any business owner should be aware of and we’ll examine them.

This session will address:

  • What it means for businesses that now face a drastically lower corporate tax rate and the elimination of the corporate AMT
  • How the Qualified Business Interest (QBI) deduction actually works
  • Help your business-owning clients (and yourself!) take advantage of the 20% QBI deduction for pass-through income
  • Does it make sense to restructure a business to take advantage of the new code, and how that would work?
  • Small businesses can more quickly depreciate certain expenses—an important topic to business owners
  • Why business owners need to consider switching to a Roth 401(k) plan
  • What to do with expanded business expensing rules

Session Four:

Putting It All Together: How to Educate Clients and Prospects on the New Tax Rules

Over the next couple of years, there’s a window of opportunity for you to engage clients, prospects, and strategic allies on the meaning and impact of the new tax law. The advisors who get there first will reap the greatest benefits. We’ll look at best practices for pursuing advisor opportunities embedded in the Code and discuss specific ways to attract prospects using your knowledge of the New Tax Act.

This session will address:

  • The best ways to add practical tax planning to your business
  • The new 2018 IRS tax return forms and how to break down a client's tax return as part of your analysis—and why you should
  • How to present the New Tax Law Briefing Program
  • How to run an “Action Plan Checklist Meeting” with clients and prospects
  • Collaborating with CPAs, accountants, and estate attorneys           
  • Why some advisors might want to use Key Tax Changes Card
  • Key steps you should take with clients now and throughout the coming years

Attend our one-day workshop and learn to guide clients (and your own firm) on the importance of the new rules in savings, investing, and planning!

Yes, sign me up for this one-day, intensive workshop so I can leave with a clear understanding of the range of planning, investing, and tax strategies my clients need to fully respond to the challenge and opportunities embeded in the new tax law.  Because I own the New Tax Law Program my total cost for this workshop is only $600.  

Pick Your City and Date!

Chicago, September 26
(before Social Security and Medicare workshop)

Learn More and Register

New York, November 14
(before the Biz Plan/Marketing workshop)

Learn More and Register

Dallas, October 31
(before the Million Dollar Solutions
workshop)

Learn More and Register

San Diego, November 28
(before the Biz Plan/Marketing workshop)

Learn More and Register

 

Can’t Make It Now?

Click this link and we’ll add you to our workshop information list. When a new workshop date is announced, you’ll be notified.

About Horsesmouth

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)

 

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