Approved IAR CE Courses

Tax planning has become an increasingly important part of the typical wealth management relationship, making a sound understanding of tax-saving strategies an absolute must for many financial professionals. One such strategy that has a place on the financial advisor's 'rolodex' of planning tools is Section 1202 Qualified Small Business Stock (QSBS). For the right business owner-client, QSBS offers a virtually unrivaled opportunity to create substantial, long-term tax-free growth. Unfortunately, not all small businesses are eligible for QSBS treatment, and of those that are, owners often fail to fully maximize their tax-free potential due to a lack of understanding of the key rules, or a failure to think creatively. At this Kitces monthly webinar, Jeff Levine explains key QSBS concepts and provides practical tips advisors can apply to help clients take advantage of this unique planning opportunity.

Concentrated stock exposure, whether from employee compensation, inheritances, or preference, can leave client portfolios vulnerable to outsized risk and limited flexibility. A market downturn or unforeseen financial need magnifies the dangers of concentrated stock while also putting the client's overall goals at risk. In attempting to address this risk, advisors can face significant obstacles from the tax implications of concentrated stock but also from emotional attachments and behavioral biases associated with these positions. In this webinar, John Nersisan walks through scenarios that can lead clients to have concentrated stock positions and their associated risks. Then, he provides strategies to mitigate the risks associated with those concentrated positions based on client objectives. Client objectives such as liquidity, tax minimization, diversification, and wealth transfer are discussed in alignment with the benefits and drawbacks of mitigation strategies, such as stock sales, zero premium collars, exchange funds, and charitable giving.

This month we review October blog articles. This quiz includes the following articles: Switching Between State And SEC Registration: Evaluating Options (And Requirements) For RIAs Nearing $100 Million RAUM and Extracting Actionable Takeaways From The SEC's Staff Bulletin Regarding An RIA's Standard Of Care.

This month, we review Nerd Eye's View blog articles: Caught Between Privacy Laws And Contracts: The Compliance Dilemma Of Taking Clients To A New Firm and The Liability Risk Of Giving Inadvertent Tax Advice (And How To Avoid It). In the first article, Nerd Eye's View guest contributor, Isaac Mamaysky, explains the legal and ethical concerns associated with client privacy when advisors move to new firms, considering their fiduciary duty, firm policies, and privacy laws at both the state and federal levels. In the second article, Ben Henry Moreland discusses the legal, ethical, and professional boundaries to consider when giving holistic financial advice with tax consequences, to avoid inadvertently offering tax advice.

As we wrap up the season of giving, it is time to plan for another year of client gifting. Gifting can be a major goal for a client's life and legacy, but this process can often lead to unexpected tax liabilities and reporting obligations. Advisors can add immense value by helping clients avoid common pitfalls associated with gifting and strategizing methods to structure gifts for tax efficiency. In this webinar, David Haughton, JD, CPWA' walks through 3 common methods of gifting (direct gifts, gifts in trusts, and gifts to 529 plans) along with their respective benefits, common pitfalls, tax implications, and gift tax reporting requirements. Furthermore, David contextualizes core gifting concepts, such as completed gifts, fair market valuations, Crummey powers, and basis planning, in common client circumstances, highlighting how advisors can think through how to fulfill a client's gifting goals while also thinking more broadly about the practical implications of each gifting strategy.