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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Tax Preparer

Date & Time
  • event Date

    Thursday, September 1, 2022

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$197.00
CPE
ALL

This course will outline specific tax and investment strategies advisers should consider in order to guide taxpayers during a bear market. Our panel of investment analysts will provide expert advice on Roth conversions, harvesting tax losses, rebalancing portfolios, and other strategies to take advantage of current events.

Faculty

Roy Janse
Managing Partner
Goldfinch Wealth Management

As the Managing Partner of Goldfinch Wealth Management, Mr. Janse's highest priority is to assist clients as they pursue and achieve their unique financial goals with the utmost confidence. He began his financial career in 2002 as a Personal and Business Financial Advisor for a nationally recognized firm. Mr. Janse's team delivers proactive advice to create financial independence, working with individuals, families, small business owners, and corporations.

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Ashton Lawrence
Director, Senior Wealth Advisor
Mariner Wealth Advisors

As a Financial Advisor at Goldfinch Wealth Management, Mr. Lawrence aims to deliver personalized client care and an array of services to create financial independence, planning for client’s short-term needs and long-term goals. A native of Greenville, South Carolina, he began his career working for a major national firm in 2010. Mr. Lawrence has extensive experience working with small business owners, executives of large corporations, and other high-net-worth individuals to develop and implement comprehensive financial plans.

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Description

Investors can profit in up and down markets; unique planning opportunities are available when the market is down. During a market downturn, RMDs are lower, and choice stocks can be purchased at steep discounts. It is prime time to take advantage of tax-loss harvesting. Individuals can deduct up to $3,000 in losses against ordinary income annually. Stock losses can offset capital gains making profitable redemptions tax-free. Taxpayers need to be wary of wash sales rules. Buying "substantially identical" securities 30 days before or after a loss sale can lead to disallowance of the loss.

Taxpayers considering a Roth conversion could do so with substantial tax savings when the market is lower. However, Roth conversions are wrought with complications. The pros and cons should be carefully weighed before converting. The pro-rata rule for taxing these rollovers could leave taxpayers with unexpected and significant taxes payable. Tax practitioners working with individual income tax clients need to be aware of investment opportunities that are present now in order to properly advise taxpayers.

Listen as our panel of financial planning experts leads you through investment strategies taxpayers should consider during a down market.

Outline

  1. Tax strategies in a down market: introduction
  2. Loss harvesting
  3. Roth conversions
  4. Tax-exempt investments
  5. Rebalancing your portfolio
  6. Gifting
  7. Investment opportunities
  8. Retirement contributions
  9. Other considerations
  10. What not to do

Benefits

The panel will review these and other critical issues:

  • How tax on a Roth conversion is calculated
  • How to avoid wash sale rules
  • How taxpayers can better utilize their estate tax exemption by making gifts during a market downturn
  • What should taxpayers consider when rebalancing their portfolios during a bear market?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Identify taxpayers who would benefit from a Roth conversion
  • Determine what is considered a substantially identical investment for wash sale rules
  • Ascertain when the caveats of Roth conversions could outweigh the benefits
  • Decide how tax loss harvesting can be used to lower taxes paid by individual taxpayers

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of individual income taxation, including itemized deductions, individual income tax credits, net operating loss limitations including carrybacks and carryforwards.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).