Don Farmer's Middle Class Tax Strategies

Overview

Tax laws continue to evolve, creating both challenges and opportunities for individuals and business owners seeking to minimize tax liabilities while achieving their financial objectives. In this practical course, tax educator Don Farmer examines a variety of tax planning strategies designed to benefit middle-income taxpayers and closely held business owners. Participants will explore techniques available under current tax law to manage taxable income, maximize deductions and credits, optimize retirement and investment planning, and improve overall tax efficiency.

Through real-world examples and case studies, attendees will learn how proactive tax planning can help clients and organizations make more informed financial decisions throughout the year rather than relying solely on year-end tax preparation. The course also addresses common planning discussions, mistakes, recent legislative developments, and opportunities to integrate tax-saving strategies into broader financial and business planning discussions.

Highlights

Principles of proactive tax planning
Income-shifting and income-timing strategies
Maximizing available deductions and tax credits
Retirement plan contribution strategies and tax benefits
Tax-efficient investment planning techniques
Planning opportunities for small business owners and self-employed individuals
Family tax planning considerations
Education-related tax incentives and planning opportunities
Strategies to reduce taxable income
Common tax planning mistakes and how to avoid them
Recent tax law developments affecting middle-income taxpayers
Integrating tax planning into financial and advisory services

Prerequisites

None

Designed For

CPAs, tax practitioners, enrolled agents, financial planners, controllers, accounting managers, finance professionals, and advisors who provide tax planning guidance to individuals and closely held businesses.

Objectives

Identify tax planning opportunities commonly available to middle-income taxpayers.

Recognize strategies for maximizing deductions, credits, and tax-advantaged savings vehicles.

Evaluate tax-efficient approaches to retirement, investment, and business planning.

Analyze the impact of current tax laws on individual and small business tax planning decisions.

Identify potential tax pitfalls and planning mistakes that can increase tax liability.

Apply practical tax reduction strategies in client advisory and financial planning discussions.