Upcoming Event

Stephen A. Stafford, Esq.

Partner, Brown & Streza LLP

Session Title: Tax Treatment of Business Entities under the Tax Cuts and Jobs Act

Summary: This course highlights the key components of the TCJA and the effect on commonly used business entities. The course explains how C Corporations will benefit under the reduced corporate tax rate under the TCJA. The course will also explore the new Section 199A deduction; and illustrate ways that business owners can maximize the use of 199A.

Learning Objectives:

• Overview of Key Changes for Business Entities Under TCJA
• Examples of when a C Corporation may be the best entity
• The new IRC Section 199A Deduction
• How the 199A Deduction is calculated
• The types of business entities that may qualify for the 199A Deduction
• Planning considerations for a Specified Service Trade or Business
• Status of NAIFA and other lobbyists’ efforts requesting clarification that insurance businesses, including those engaged in sales and placement of insurance products, are qualified businesses and not a Specific Service Trade or Business subject to exclusion under 199A
• Examples of strategies for maximizing the 199A Deduction

Level of Complexity: Intermediate

1.0 CFP CE
1.0 CPA CPE
1.0 MCLE
1.0 CA Insurance

Bio: Steve Stafford is a partner with the Orange County, California law firm of Brown & Streza LLP, where he is privileged to serve and provide counsel to closely held businesses, entrepreneurs, and real estate investors with respect to choice of entity, taxation, risk management, corporate compliance, contracts, mergers and acquisitions, and business succession planning.

From 2009 through 2012, Steve was named a “Southern California Super Lawyers Rising Star” list by the publishers of Los Angeles magazine and Law & Politics magazine – a distinction recognizing just 2.5% of attorneys under the age of 40 and/or in their first 10 years of practice.

Before joining Brown & Streza in 2007, Steve was a litigation attorney for the law firm of Gordon & Rees LLP. Steve is a member of the State Bar of California, the Orange County Bar Association, and is also admitted to practice before the United States District Court for the Central District of California and the United States Court of Appeals for the Ninth Circuit.

Steve received his Bachelor of Arts from the University of California, Berkeley, in 1993, his Juris Doctor from the University of San Francisco School of Law in 2002, and his Master of Law in Taxation (LL.M.) in 2009 from Chapman University School of Law.

Steve was a four-year letterman on the Cal Football Team during his undergraduate career and remains involved with a variety of Cal Alumni organizations. Steve lives in Dana Point with his wife, Kirsten, and their four children. Steve and Kirsten are involved in a number of community activities and were the Co-Chairs of Dana Hills High School Football’s 2013 Honor the Valor Benefit Game, which benefits local military veterans’ organizations.

Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL

Partner and the Director of Research for Pinnacle Advisory Group, co-founder of the XY Planning Network, and publisher of e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View

Session Title: Estate Planning In 2018 And Beyond

Summary: 

The passage of the American Taxpayer Relief Act of 2012 (ATRA) marked the dawn of a new era of estate planning… making permanent the highest-ever estate planning exemption of $5M, and portability of the unused estate tax exemption to a surviving spouse. The subsequent doubling of the estate tax exemption under the Tax Cuts and Jobs Act of 2017 (TCJA) to $11.2M has further extended and narrowed the scope of the Federal estate tax, leading to a substantial shift in the focus of estate planning to state estate taxes and the income tax consequences of bequeathing assets at death. In this presentation, we look in depth at estate planning in light of the now-limited scope of the estate tax, the rising importance of cost basis planning, the permanence of portability and the reduced need for bypass trusts, and how future legislation may further change the picture. We also review the changing estate tax environment at the state level, as states increasingly struggle with the “second decoupling” that occurred when the Federal gift tax exemption stopped being a backstop to state estate taxes.

Learning Objectives:

• Explain the “permanent” changes made to the estate tax system with the passage of the American Taxpayer Relief Act of 2012 and the Tax Cuts and Jobs Act of 2017.
• Describe the necessary rules and requirements in order to elect for portability and calculate the available exemption for the surviving spouse.
• Be able to identify and list the many situations in which it still makes sense to use a bypass trust, yet explain why the bypass trust is no longer necessary as it pertains to preserving a deceased spouse’s estate tax exemption.
• Identify how ATRA and TCJA will impact the estate planning needs of clients based on their net worth (i.e. differences between ultra-high-net-worth clients, high-net-worth clients, and those not facing Federal estate taxes).
• Evaluate with clients the prospective estate planning strategies now available given the new rules.

Level of Complexity: Advanced

1.0 CFP CE
1.0 CPA CPE

Bio: Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is a partner and the Director of Research for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland that oversees approximately $1.8 billion of client assets. In addition, he is a co-founder of the XY Planning Network, the former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.

Lunch

Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL

Partner and the Director of Research for Pinnacle Advisory Group, co-founder of the XY Planning Network, and publisher of e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View

Session Title: Social Media For Financial Planners

Summary: 

The rise of social media in just a few short years has created some of the largest technology companies in the world, as Facebook crosses the line for 1 billion users. Yet at the same time, change has been so rapid that many industries, including financial services, are struggling to keep up with the changing technology. In this session, we’ll look at what social media is, how it fits as a part of a financial planner’s (referral) marketing strategy, with examples, tips, and best practices about how to begin to use social media in your own business.

Learning Objectives:

• Explain what exactly social media is and show an understanding of the various platforms of social media.
• Discuss how social media sharing helps build trust with clients.
• Compare and contrast outbound vs. inbound marketing, and illustrate how social media fits within an inbound marketing strategy.
• Describe the process of how to “do” social media and explain the various social media platforms to choose from.
• Identify and list the best practices in social media usage for financial planners.
• Highlight the various concerns as it relates to social media compliance.
• Be able to get up and running with social media.

Level of Complexity: Intermediate

Please note that this presentation does not qualify for CFP CE. However, we feel that it is a valuable topic to cover.
1.0 CPA CPE

Bio: Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is a partner and the Director of Research for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland that oversees approximately $1.8 billion of client assets. In addition, he is a co-founder of the XY Planning Network, the former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.

Mid-Session Break
Ice Cream Social and Networking

Cindi R. Hill, CFP®, IACCP® Founder, Hill Compliance Advisors
& Steven J. Ryder, President, True North Networks, LLC

Session Title: CyberSecurity and Compliance Issues in Financial Services: How to Stay Protected and Prepared

Summary: 

While the news on Cybercrime can seem daunting and the regulations overwhelming, there are techniques that won’t break the bank to protect your network and reduce the likelihood of a data breach. Join this lively session for steps you can take to protect your company and your clients. Rest assured, we’ll talk only in non-technical terms which anyone can understand!

This program will provide detailed information about the obligations of financial professionals, specific to Federal Regulations, to adopt proper cybersecurity to protect themselves and their clients. The program will describe the threats to cybersecurity, using examples of SEC Actions as case studies to help financial planners effectively meet these threats.

Learning Objectives:

• Update of current events surrounding security breaches and causes.
• Review current regulatory compliance regarding cybersecurity.
• Identify internal regulatory gaps and steps to correct them and reduce the likelihood of a cybersecurity breach.

Level of Complexity: Overview

1.0 CFP CE
1.0 CPA CPE

Bio: Cindi R. Hill, CFP®, IACCP® of Hill Compliance Advisors provides comprehensive compliance services and solutions for the financial professional who is a Registered Financial Advisor (RIA). As a virtual compliance consultant and former RIA herself, Ms. Hill performs compliance tasks, allowing the financial professional to run their business and spend their quality time with clients.

Cindi has worked in the Compliance industry since 2004 and worked in the financial planning/investment advisor industry from 1985 to 2010. She received her Bachelors of Science degree in Finance from San Jose State University. Cindi obtained her Investment Adviser Certified Compliance Professional designation (IACCPSM) in 2011 and obtained her Certified Financial Planner® (CFP®) designation in 1993. Cindi has been a member of the National Association of Personal Financial Advisors (NAPFA) since 2002 where she served on the NAPFA National Board from 2008-2011. Other board positions include The San Diego Women’s Foundation where she currently serves as the CFO and ElderHelp of San Diego where she previously served as Treasurer, Vice Chair and Chair. Cindi is also a member of the Southern California Compliance Group and the National Society of Compliance Professionals.

Bio: Steven Ryder is the President and Founder of True North Networks, LLC. True North is a leading
national provider of managed hosting, technology and security services within the financial services
industry. In 2015, True North launched SecureWorkplace®, a suite of cybersecurity services designed
to reduce the likelihood of a successful cyber-attack on their clients. Prior to starting True North, Mr.
Ryder worked in the financial services industry serving as Vice President of two banks, managing
relationships with Fannie Mae’s largest New England clients, and was the CFO of the largest real estate
company in New Hampshire. Steven speaks at varies venues throughout the country each year on
cybersecurity.

Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL

Partner and the Director of Research for Pinnacle Advisory Group, co-founder of the XY Planning Network, and publisher of e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View

Session Title:  Tax Planning Developments & Opportunities Under TCJA

Summary: 

The Tax Cuts and Jobs Act (TCJA) of 2017 enacted the biggest tax reform overhaul in decades, especially for corporations, where the AMT was repealed, and the top tax rate was reduced from 35% to 21%. When it comes to individuals, though, TCJA was more of a series of tweaks than a total overhaul, including a modest reduction in tax brackets, an expansion of the standard deduction, and the curtailment or elimination of many (but not all) itemized deductions (including the deduction for a financial advisor’s own investment advisory fees!). The end result is a system in which most individuals will no longer itemize deductions at all, though those that can will need to be especially proactive in deduction lumping and charitable clumping to maximize their value. At the same time, the introduction of a new 20% Qualified Business Income (QBI) deduction for pass-through businesses creates an appealing tax break for many small businesses, and a potential desire to restructure existing business arrangements to better qualify for the deduction… although Specified Service businesses, including consultants and financial advisors themselves, must plan carefully to take advantage of the new rules!

Learning Objectives:

• Identify the changes in tax rates under the TJCA of 2017.
• Identify changes to AMT under the TJCA of 2017.
• Identify the consequences of the increased standard deduction for households who itemize deductions.
• Identify how the new QBI deduction impacts taxpayers with pass-through businesses.
• Identify how taxpayers can restructure existing businesses to better qualify for QBI.

Level of Complexity: Intermediate

1.0 CFP CE
1.0 CPA CPE

Bio: Michael E. Kitces, MSFS, MTAX, CFP®, CLU, ChFC, RHU, REBC, CASL, is a partner and the Director of Research for Pinnacle Advisory Group, a private wealth management firm located in Columbia, Maryland that oversees approximately $1.8 billion of client assets. In addition, he is a co-founder of the XY Planning Network, the former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.