In this session, Steve will explore key concepts related to income tax planning, specifically focusing on tax brackets, income tax basis, grantor trusts, the Secure Act, and special opportunities in the Internal Revenue Code. We will begin by discussing the importance of paying attention to tax brackets for clients and their families. Understanding how tax brackets work can help your clients identify opportunities for tax savings, such as timing income and deductions to minimize tax liability. Siegel will delve into the importance of income tax basis planning and strategies. He also dissects grantor trusts, discussing their special advantages for income tax planning. He will examine special income tax opportunities in the Internal Revenue Code. By the end of this session, you will have gained a deeper understanding of key concepts related to income tax planning, and be equipped with strategies and techniques to help your clients minimize their tax liability and achieve their financial goals.
