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As we enter the third quarter, the economic landscape is dominated by two surges – a fiscal surge and a vaccination surge. In combination, these surges should lead to much stronger economic growth and higher inflation. A key question for investors, however, is whether this will fuel a continued back up in long-term interest rates or a market correction in areas of the markets that look frothy. As the pandemic winds down, investors will likely once again focus on longer-term issues such as sustainable investing and the relentless growth of the Chinese economy and capital markets.
Objectives:
- Discover how global markets and economies can affect investors and the potential impacts on portfolios.
- Identify both timely and long-term trends in the markets and global economic landscape.
The tax environment is fluid and what will occur is uncertain. This session will be updated up until the date of the program to provide practitioners with practical, actionable, tax planning advice that can be given to clients. Depending on the status of tax legislation current proposals and what to do in light of them will be reviewed. If there is actual legislation that will be discussed. in all events the focus will be on specific planning you can guide clients with.
Objectives:
- Recognize specific planning strategies that can be recommended to clients of ALL wealth levels to take now in light of various tax proposals
- Identify specific steps clients should take to create and fund life insurance trusts now and why is this so important for even more moderate wealth clients.
- Spousal lifetime access trusts (“SLATs”) are all the rage. Discover specific planning techniques that can be used to enhance this type of planning, and discuss how greater access to trust assets be provided GRATs may be on the way out but there may be one last opportunity to use GRATs.
- Identify how those GRATs should be structured and how and why are the different then GRATs that have been done in the past
- Identify techniques can be used to try to mitigate retroactive tax changes
Session is intended to provide education on structuring and implementing public equity portfolios, including a case study with considerations and outcomes.
Objectives:
- Describe global equity markets
- Distinguish between active vs. passive management in public equity management
This session will address the challenges of estate planning in 2021. Have new laws been proposed or passed? How should practitioners respond? What techniques should be recommended now? Which techniques are best to use in a low interest rate environment? Are different techniques best recommended for clients at different levels of wealth? These and related issues will be discussed.
Objectives:
- Summarize the status of laws and proposals that affect estate and trust planning in 2021.
- Recognize the best planning techniques to recommend and avoid in a challenging planning year.
- Evaluate which planning techniques remain viable in a low interest rate environment
In order for taxpayers to resolve their back tax issues they are required to be in tax compliance. But what exactly does that mean? This program will cover the role tax compliance plays in resolving tax debts and what practitioners need to know to help get their clients into compliance to resolve their debt. The program will also discuss the issue of cleaning up a client’s bad behavior and the potential for voluntary disclosure to avoid a criminal referral. Also addressed will be the role of economic hardship and how it can be used to resolve a tax debt and prevent enforcement action by the IRS.
Objectives:
- Describe the role tax compliance plays in resolving tax debts
- Explain how economic hardship impacts IRS collection and the need for tax compliance
- Describe the circumstances where a voluntary disclosure would make sense to clean up a client’s past compliance issues
Live from ENGAGE! The AICPA Town Hall Series is the profession’s resource for timely and critical information which includes real-time interpretation and analysis, along with a broader discussion on strategies and capabilities to drive long term success.
It is a high-impact news broadcast series that delivers accounting and finance professionals with the latest news, analysis and insights, and practical guidance to help them understand and respond to the most pressing issues facing the profession. Town Hall contributors include practitioners, thought leaders, policy makers, and a range of experts from across the profession, government and business. Join this special edition Town Hall as AICPA leaders bring the news desk to ENGAGE.
Objectives:
- Identify Timely & Critical Information
- Extend Interpretation & Analysis
- Outline Firm and Business Strategies
- Recognize Practitioner Capabilities
In this session we will discuss the significant planning opportunities available with Qualified Small Business Stock. We will start with the basic rules and definitions, however, quickly morph into the unique opportunities that exist within Section 1202. Using practical examples we will illustrate the strategies that exist to exclude greater than the $10M exclusion, discuss rollover techniques when the five-year holding period hasn’t been met and also prepare you, as a practitioner, with the knowledge necessary to assess your risk with claiming the exclusion on your client’s tax returns.
Objectives:
- Identify the basic requirements to qualify for the QSBS exclusion both from the company perspective and the individual investor.
- Describe the planning opportunities to multiply the $10M exclusion by creating trusts, gifting, and leveraging the Section 1202 basis rules.
- Explain as a practitioner the risks associated with reporting QSBS exclusions on your client’s tax returns and the level of comfort required to support such tax positions.
- Recognize and understand QSBS Schedule K1 footnotes and what you need to inquire of your client to determine eligibility as it relates to factors such as holding period and carried interest.
The much-debated ruling by the US Supreme Court forcing the NCAA to alter long-standing financial policies around collegiate athletics, athletes and teams speaking out on social issues, and the Tokyo Olympics taking place amid a global pandemic has made the intersection of business and sports more apparent and newsworthy than ever.
The role of the trusted, professional financial advisor is critical from the onset of an athlete’s career requiring an understanding of financial literacy, wealth management and compliance. Given the stunningly short, average length of a player’s career, preparing for the day the buzzer sounds should start well before they sign their first professional contract.
This session features lessons learned from three groundbreaking professionals - Amobi Okugo, Jeremy Bloom and Nicole Lynn - each bringing their own unique perspectives on overcoming adversities, maximizing opportunities and navigating an often treacherous business environment on and off the field.
The COVID-19 pandemic accelerated change in the profession. This panel discussion will provide insights into the trends and issues impacting the profession and how these are creating new opportunities to thrive in the future.
Objectives:
- Describe the current economic environment and important issues impacting the accounting and finance profession.
- Recognize how accountants are leading in economic recovery efforts and hear how the Association is supporting them through advocacy, resources and learning.