Tax Planning Personal

What You Will Learn

• 1 Learn the foundations of personal tax planning, including tax brackets, marginal rates, and filing status.
• 2 Understand how different types of income (earned, passive, portfolio) are taxed and strategies to optimize their mix.
• 3 Apply itemized deductions and above-the-line adjustments to reduce adjusted gross income effectively.
• 4 Analyze tax credits for education, childcare, and energy efficiency to lower tax liability dollar-for-dollar.
• 5 Create investment tax strategies using tax-advantaged accounts, tax-loss harvesting, and asset location.
• 6 Implement retirement planning with Traditional and Roth IRAs, 401(k)s, and required minimum distribution rules.
• 7 Develop estate tax planning techniques including gifting, trusts, and step-up in basis for heirs.
• 8 Build tax strategies for self-employed individuals, including deductions, retirement plans, and estimated payments.
• 9 Explore state and local tax considerations, including multi-state filing, sales tax, and property tax.
• 10 Discover advanced planning techniques like charitable remainder trusts, CRATs, and donor-advised funds.