You and your clients’ IRAs and retirement plans are under attack. The SECURE Act should be named the Massive Income Tax Acceleration on a Retirement Plan Owner’s Act. The inauguration of Joe Biden, a Democratic Congress, the $1.9-trillion pandemic relief packages, the proposed infrastructure packages, and the sunset provisions of the Tax Cuts and Jobs Act of 2017 all point to massive income tax increases for IRA and retirement plan owners. This course will reveal critical strategies that will help you protect your and your clients' financial security and generational wealth.
 
Learning Objectives: 

• Determine effective methods of transferring assets from the taxable to the tax-free world


• Define critical concepts and the math behind Roth IRA conversions


• Recognize that less obvious tax increases might come from eliminating the current step-up-in-basis provision and the favorable capital gains rates and determine how you should respond


• Recall that the sunset provisions of the TCJA of 2017 will not only increase income tax rates but also will dramatically lower the federal estate tax exemption


• Determine how to optimize your Social Security distributions


• Give examples of gifting strategies, i.e., cashing in 1% of your IRA annually and using the proceeds to buy life insurance that will pass income and estate tax-free to your heirs