Planning After ATRA and the Net Investment Income Tax Toolkit 

    The American Taxpayer Relief Act of 2012 (ATRA) and Net Investment Income Tax (NIIT) have added more complexity to planning given that you now have to navigate through a multi-layer tax system in conjunction with running multi-year scenarios to gain a clear picture of the tax landscape in order to advise your clients on virtually all of their personal financial planning decisions.  CPA financial planners now have an unprecedented opportunity to demonstrate their value to clients by providing guidance, planning, and tax expertise.

    Use the following tools and resources to help you educate your clients and proactively plan for the changes.  Note that content created to help members in planning for the 2013 year-end are relevant planning ideas and strategies going forward.

    All of the content in this toolkit is available as part of your PFP/PFS membership, with the exception of two products in the “other resources” section that can be purchased at a discount. Also, the vast majority of the podcasts and some of the webcasts are available to all without membership.

    Take a tour of the toolkit

    Recent Webcasts Recordings & Materials

    Access an extensive suite of post-ATRA webcasts and related materials that include planning ideas and strategies relevant to 2015.

    Planning in a Five Dimensional Tax System – Taking the Quantum Leap Forward for Your Clients (5/2/2014) 

    Implementation of the 3.8% Net Investment Income Tax on Individuals (1/30/2014)

    Implementation of the 3.8% Net Investment Income Tax on Estates and Trusts (1/29/2014)

    Implementation of the 3.8% Net Investment Income Tax on Partners and Partnerships (1/28/2014)

    Implementation of the 3.8% Net Investment Income Tax on S Corporations and Their Shareholders (1/7/2014)

    Upcoming Webcasts

    Charts Provided by Robert Keebler
    Top 10 Planning Strategies  The Bracket Management Chart
    Capital Gains Harvesting Chart The Roth Conversion Decision
    Roth Quadrants Understanding the Net Investment Income Tax
    DrawDownTM Strategies Traditional IRA Distribution Flowchart
    Tax Asset Classes  Roth IRA Distribution Flowchart
    2014 Marginal Tax Rates Chart (Provided by Michael Kitces)  Applying the 3.8% Net Investment Income Tax Chart 
    Generation Skipping Transfer (GST) Tax

    75 Best Income Tax Strategies for Financial Professionals to Generate TAX ALPHA™


     a complete list of Podcasts and accompanying slides.

    Tax Rate Evaluator: A Graphical Calculator for Tax Planning After ATRA (March 12, 2014)

    Form 8960 Prep - Computing the New 3.8% NIIT on Form 1040 (February 27, 2014)
    The Mathematics of Portability (February 27, 2014)

    Relief for Missed Portability Elections (January 31, 2014)

    Q&A on Net Investment Income Tax for Individuals
     (January 31, 2014)

    Interview with David Kirk and Adrienne Mikolashek (January 10, 2014)

    Form 8960: Draft Instructions (January 10, 2014)

    Understanding the 3.8% NIIT and Its Effects (December 17, 2013)

    3.8% Net Investment Income Tax Final Regulations
    (November 26, 2013) 

    Year-End Planning Series
     (October 3, 2013)
    Note: This content which includes planning ideas and strategies is relevant going forward

    Critical Provisions in President's FY 2014 Budget Proposal (April 12, 2013)

    Key 2013 Tax Planning Considerations after ATRA (January 30, 2013)

    Under ATRA 2012 Estate Fiscal Year Election is Crucial (January 11, 2013)

    Resolution of the Fiscal Cliff-Part 1
    | Resolution of the Fiscal Cliff-Part 2 | Resolution of the Fiscal Cliff-Part 3 (January 4, 2013) 

    Client Communications

    Sample letters for new and existing clients highlighting planning opportunities post-ATRA and NIIT.

    Individual and small business owner versions of client letters focusing on key tax law changes

    PowerPoint presentation with speaker notes to use during client meetings

    Forefield video explains how the tax-planning landscape has changed for high-income taxpayers

    Forefield Advisor (free access to PFP/PFS members) includes extensive-content written by CPAs, attorneys and other experts on planning strategies, new relevant laws, etc. that are articulated in client terms

    Forefield Alert: Provisions in the American Taxpayer Relief Act of 2012

    Client letters covering the American Taxpayer Relief Act for your individual or small business clients 
    (available in the AICPA’s Tax Practitioner’s Toolkit)

    Additional Tools and Resources
    Bronze Edition of the Tax Rate Evaluator: A Graphical Calculator for Tax Planning After ATRA is available to PFP Section members and CPA/PFS credential holders. Learn more about the bronze edition and compare to the for sale gold edition.

    Tax Rate Evaluator: A Graphical Calculator for Tax Planning After ATRA. The goal of this enhanced software is to allow the tax adviser to see trends and opportunities without necessarily using a calculator (PTX1307M). AICPA member price: $159; PFP members save 10% off of this price.

    We are pleased to share with you a recent article published by Leimberg Information Services, Inc. titled "Gain Harvesting in 2013 & 2014" which discusses the importance of developing a gain harvesting strategy. The article is reproduced courtesy of LISI (Leimberg Information Services, Inc.).

    Tax Planning Opportunities After ATRA: Tools, Tips, and Tactics for the AICPA (PTX1306M). This product  includes in-depth write-ups on the top 25 tax planning strategies after ATRA.  AICPA member price: $69; PFP members save 10% off of this price.

    NIIT – Complete Calculator and Draft Form
    Excel spreadsheet that allows you to input the necessary income and expenses for filling out the DRAFT versions of Form 8959 (the 0.9% Additional Medicare Tax Form) and Form 8960 (the 3.8% Net Investment Income Tax Form). These inputs are then transferred directly to the corresponding IRS Form and the tax calculations are done for you.   Additionally, it allows you to illustrate to your clients the substantial effect the NIIT may have on them. Once the effect of the NIIT on your client is known, proper tax planning can begin.

    NEW Dealing with the 23.8% Tax on Trust Capital Gains: 21 Ways (and Counting) to have a Trust’s Capital Gain Taxed to the Beneficiary: This article reviews the new 3.8% NIIT and how it applies to trusts and beneficiaries, as well as how a trust’s capital gains can be taxed to the beneficiary.

    The CPA's Guide to Financial and Estate Planning
    The 4-volume, 1,000 page guide, exclusively available to PFP/PFS members, covering estate, tax, retirement, investment and risk management planning has been updated for ATRA and NIIT.

    Articles covering planning after ATRA from the Planner newsletter: Jan/Feb 2013 | March/April 2013 | May/June 2013 | July/August 2013

    Roth Conversion Planning

    Additional resources on Net Investment Income Tax 


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