Course Description

In the case of many taxpayers, their tax liability is largely dictated by their portfolio. A good year in the markets could spell a large check to the IRS, unless we proactively manage it through tax minimization techniques. In this course, we will explore the different capital gains rates and when they apply. We will look into the details of bracket management on the capital gains side and dig into the details, so that we can figure out how to best manage the situation – and keep money in the client’s pocket!

Learning Objectives

  • Distinguish between capital assets and non-capital assets.

  • Identify collectible assets and when a special tax rate applies.

  • Recognize when a wash sale has occurred.

  • State the difference between recaptured Sec 1250 gain and unrecaptured Sec 1250 gain.

Additional Required Materials

  • Level: Intermediate

  • Field of Study: Taxes (NASBA); Tax Planning (CFP); Federal Taxation (IRS)

  • Who Should Attend: Practitioners who work with retirees and others who generate most of their taxable income from their portfolio.

  • Required Knowledge: A foundational understanding of individual taxation and different tax rates.

  • Advanced Prep: None

Instructor

CPA, CPCU, MST, MBA David Peters

David Peters is the Founder and Owner of Peters Tax Preparation & Consulting in Richmond, VA. He has over fourteen years of experience in financial services, including 3 years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, and ethics throughout the United States. He holds four Masters degrees and contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.