Strategic Income Management for Client Success

Overview

The H.R. 1 tax bill introduced a range of provisions with varying income thresholds and phaseouts. 

Our expert CPA/PFS panel will break down these changes and share tactical guidance for applying them with clients. 

Understand how to manage these phaseouts, both above and below the line, and how to pair them with strategies like Roth conversions and QCDs.

 This information can help set you apart as a CPA financial planner.

Prerequisites

Fundamental knowledge of the new H.R. 1 tax bill, commonly referred to as OBBBA.

Objectives

• Apply the 2/37th itemized deduction limitation.
• Use the 45.5% SALT effect rate.
• Compare how the new phaseouts affect Roth conversions and when not to do a Roth conversion.
• Apply opportunities to use non-grantor trusts to shift income.
• Determine how to time RMDs and QCDs to avoid these limitations.
• Calculate why you should itemize in 2025 not 2026.
• Apply Roth conversions from age 50 to 63 to reduce IRMAA and avoid phaseouts.
• Calculate the use of oil and gas investments to reduce AGI and avoid phaseouts. 
• Use passive activity losses to offset passive income. 
• Determine when to use bonus depreciation, Section 179, and cost segregation to reduce AGI.
• Determine the potential for defined benefit plans to reduce AGI.
• Use investment strategies to defer income and reduce AGI.

Highlights

• OBBBA, HR 1, phaseouts, thresholds, SALT, shifting income, Roth conversions, investment strategies