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2021 Income Tax Reform: What You Need to Know


Cost $10.00
Presentation Length 1.0 hour

Recorded DateAugust 23, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Series: Taxes, Tax Reform
Course Description

The year 2020 was an unbelievable time we will long remember, and 2021 began with a bang. The Democrats took control of Congress and proposed massive changes to federal tax policy.  Although the crisis may abate in 2021, the momentum for tax policy change will likely only increase. The “Blue Wave” along with the fiscal stimulus from Congress will have tremendous implications for your clients, given the likelihood for significant tax changes directed toward wealthy Americans. The President confirmed his suggested tax increases in a recent speech to Congress.

This session will provide ideas, tips, and tools to minimize your client’s tax liability.

Learning Objectives:

  • Organize a detailed review of President Biden’s income and social security tax policy proposals, including a checklist of planning ideas

  • Summarize bracket management, including historically low rates, the scheduled sunset, and the potential rate increases under a Biden administration

  • Identify capital gains harvesting to capture a rate advantage with a potential of a 39.6% LTCG rate

  • Calculate the mathematics of loss harvesting

  • Identify advanced Roth conversions

  • Determine the reduced value of itemized deductions

  • Determine the reduced value of funding tax-preferenced retirement accounts

  • Recall the increased importance of using installment sales

  • Describe potential annual market-to-market taxation

  • Evaluate the use of charitable remainder trusts to defer and eliminate capital gains

  • Determine why you might need to avoid CRTs in 2021

  • Determine the use of §453 installment sales to reduce capital gains and how to elect out of installment sale treatment to accelerate gains

  • Identify how to use grantor charitable lead trusts to mitigate capital gains

  • Recall how to direct charitable gifts to reduce capital gains

  • Calculate the “0%" capital gain rates

  • Differentiate charitable gifts of appreciated property

  • Identify how to use opportunity zones to manage capital gains more effectively

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Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP, and the current chairman of the AICPA Advanced Estate Planning Conference. In 2007 he was inducted into the Estate Planning Hall of Fame of the National Association of Estate Planners & Councils. CPA Magazine has also named him one of the top 100 most influential practitioners in the United States and one of the top 40 tax advisors to know during a recession. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. 

Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and estate, gift, and income tax examinations and appeals. He has received more than 200 favorable private letter rulings, including several key rulings of “first impression.” 

He is the author of over 100 articles and columns and is the editor, author, or co-author of many books and treatises on wealth transfer and taxation. Mr. Keebler has been a speaker at national estate planning and tax seminars for over 20 years, including the AICPA’s: Estate Planning, High Income, Advanced Financial Planning Conferences, ABA Conferences, NAPEC Conferences, The Notre Dame Estate Planning Conference, and the Heckerling Estate Planning Institute.

About Our Presenter

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At Keebler & Associates, we are nationally recognized tax professionals in family wealth transfer, estates and retirement distribution planning. We provide tax and estate planning to high net worth individuals and families and educate financial, tax and estate professionals on cutting edge tax strategies.