23 Days of Tax Planning Advice: AdvisorOne Special Report

What advisors need to know, and remind clients of, at tax time, and throughout the year.

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In the runup to income-tax filing day this year (which due to a local holiday in Washington, D.C., is actually April 18, 2011), AdvisorOne will deliver a daily tax planning tip each business day in March that advisors can use on behalf of their clients, and for themselves and their businesses as well.

Going beyond simple income-tax planning, but not ignoring that key consideration, these practical reports will be included on AdvisorOne’s Daily Wire newsletter that’s delivered every business afternoon during the month of March.

The daily tax tip will leverage the skills of our in-house editors and reporters, including Wealth channel editor Kate McBride, along with the insights of AdvisorOne’s resident tax and estate planning experts: bloggers Gavin Morrissey of Commonwealth Financial Network, Timothy Speiss of EisnerAmper and Andrew Rice of Money Management Services Inc.

Moreover, we’ve sent out reporters Marlene Satter and Michael Fischer to pick the insightful tax planning minds of several other leaders in the industry, including Martin Shenkman of Shenkman Law, Benjamin Ledyard of Silver Bridge Advisors and Bernard Kiely of Kiely Capital Management and dean of NAPFA University’s School of Taxation.

Tax topics to be covered—to benefit your clients and your own business--will include considerations in the short term and longer term such as:

  •             Ramifications of the 2010 Obama tax law
  •             Tax considerations when investing
  •             Philanthropy and the tax code
  •             Gifting strategies: cash, collectibles, art
  •             Retirement planning: Roths and IRAs
  •             And income tax planning for this year and future years.

Below is the running list of topics covered, and the expert who will be delivering them to readers. Check back as we enhance the list and add new topics and experts.

Week One:

March 1:          Martin Shenkman on taking reasonable compensation from a closely
                        held business

March 2:          Bernie Kiely on accelerating expenses into the old tax year

March 3:          Benjamin Ledyard on ‘pure’ gifting under the 2010 tax act

March 4:          Martin Shenkman on paying income tax on grantor trusts.

Week Two:

March 7:          Bernie Kiely on how to handle client bonuses and big capital gains.

March 8:          Benjamin Ledyard on the 500% increase in the gift tax exemption

March 9:          Martin Shenkman on watching the legal language in formula clauses

March 10:        Gavin Morrissey on using the charitable donations on income tax

March 11:        Benjamin Ledyard on charitable lead annuity trusts 

Week Three:

March 14        Gavin Morrissey on bypass trusts

March 15:       Bernie Kiely on taking advantage of the Section 179 deduction

March 16:       Martin Shenkman on properly handling entity formalities

March 17:       Tim Speiss on considering a Roth conversion

March 18:       Andrew Rice on having clients create an efficient process

Week Four:

March 21:       Gavin Morrissey on using the $5 million estate tax exemption

March 22:       Andrew Rice on having clients organize their documents

March 23:       Tim Speiss on minimizing AMT exposure, or not...

March 24:       Andrew Rice on helping clients hire a competent tax preparer

March 25:      Tim Speiss on accelerating deferred compensation income

Week Five:

March 28:      Ben Ledyard on the benefits of GRATs for gifting

March 29:      Martin Shenkman on coordinating beneficiary designations

March 30:      Bernie Kiely on starting with last year’s return

March 31       Ben Ledyard on gifting assets that are likely to appreciate

      

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