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02.24.2022 - 1040

Attendees Rating:

Excellent (87%)
Average (13%)
Below Average (0%)
How To Plan With the New 1040
Presented by Larry Pon, CPA,
Larry Pon

Here are ideas that the attendees learned from Larry:

Ability to purchase I-Bonds from refund,, using RMDs to cover estimated tax liability, once-in-a-lifetime IRA rollover to HSA
Brief insights into the numbered schedules - what they focus on. Good review of planning opportunities throughout the return.
It reminded me of several strategies I knew about but they weren't up close to the surface where I could easily access them in front of a client. It's important to be in the right frame of mind for tax season because clients aren't always as receptive during other times of the year.
It's always a nice reminder about which line item is a planning opportunity and why.
need a solution for outsourcing health insurance/Medicare eval. Value of getting W2 or year-end pay stub. Learn more about mega back door Roth
Reviewing SPD was a great idea because clients are not aware what their plan offers.
That was a great presentation, very informative, paced well, and covered a big variety of relevant topics.
Use RMD to pay extra taxes - reduce the chance will need to pay estimated taxes. Buy I bonds with tax return.
Using the full amount of the RMD to pay the client's taxes.  I never thought of that.  
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