CPAacademy.org | 2021 INCOME TAX REFORM: THE BUILD BACK BETTER ACT

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2021 Income Tax Reform: The Build Back Better Act

Taxes

2021 INCOME TAX REFORM: THE BUILD BACK BETTER ACT

Cost $30.00

CPE Credits 1.0 hour

Subject Area 1.0 - Taxes

CE Credits 0.0 hours

Course Level Basic

Instructional Method Group Internet Based

Prerequisites None

Advanced Preparation None

Who Should Attend CPA - small firm
CPA - medium firm
CPA - large firm
Other

Series: Taxes, Tax Reform

Course Description

Year-end tax reform seems all but certain. The Democrat-controlled Congress and the President are determined to act. The House Ways and Means Committee marked up legislation in September – The Build Back Better Act. This is the first key formal step for a bill to advance to the house floor. This bill included many significant tax increases directed toward wealthy Americans. This session will review this legislation in relevant parts, provide a general status update and discuss core planning ideas for everyone.

Learning Objectives:

Identify the income tax rate changes included in the Build Back Better Act.

Review the retirement account changes included in Build Back Better Act.

Summarize the estate tax changes included in the Build Back Better Act.

Identify the principal change proposed by the STEP Act.

Review basic income and deduction timing opportunities and traps.

Summarize the mathematical concept of capital gain harvesting.

Identify the installment sale opportunities and traps.

Review basic bracket-drive Roth conversions & big picture strategic Roth conversions.

Summarize the opportunities and traps those subject to the estate tax face or changes proposed in the STEP Act during this transition.

Robert Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA

Keebler & Associates, LLP
Partner
robert.keebler@keeblerandassociates.com
(920) 593-1701

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.

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About Our Presenter

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.