CPA Tom Wheelwright Teaches Seven Game-Changing Tax Tactics

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Three-Day Virtual Training Features Live Webinars Led by Global Tax Expert

“If you’re looking to create real value for your clients, this is the course for you,” Wheelwright said. “We’ll take you deep into specific tax planning issues that can transform the results you deliver. When your clients win, you win.”

Tom Wheelwright, Author, CPA and CEO of WealthAbility®, will lead a virtual training event, Advanced Tax Strategies for Advisors to Business Owners and Investors, Nov. 18-20 via video conference. At this continuing education event for CPAs, Wheelwright is teaching seven tax strategies that can change clients’ lives.

“If you’re looking to create real value for your clients, this is the course for you,” Wheelwright said. “We’ll take you deep into specific tax planning issues that can transform the results you deliver. When your clients win, you win.”

Wheelwright’s strategies include:
1. Turning active income into passive income
It’s not how much your client owns that matters; it’s how much they control. The Family Partnership Rules of Code Sec. 704(e) allows clients to convert at least part of a client’s business income into passive income by giving part of their business to a family member who doesn’t work in the business. As a result, their share of the business’s income is passive income that can be offset by passive losses from real estate and other investments.
2. Utilizing estate planning to minimize income tax
What many don’t realize is that tax and estate planning go hand in hand. If you don’t plan properly, it can be nearly impossible to effectively transfer wealth multi-generationally, thus losing millions to taxes. As a CPA, it’s critical to understand your client’s goals and be willing to coordinate closely with their attorney. Attorneys aren’t typically familiar with income tax law, and accountants usually don’t know the ins and outs of estate planning. By working together, you can create the most effective tax plan for your client.
3. Section 1202 planning
If your client plans to sell their company within five to 10 years, they may want to consider converting the company to a C corporation to take advantage of the Section 1202 gain exclusion. Section 1202 allows them to sell their stock without paying tax on the gain as long as they held the stock for more than five years and the business is a C corporation.

At the three-day Advanced Tax Strategies event, ticket holders will learn seven game-changing tactics, including maximizing the tax benefits of losses, turning active income into passive income and more. Tickets are on sale now at https://wealthability.com/advanced-tax-strategies-for-business-owners-and-investors-market/. Tickets are $1,997 and include access to the three-day virtual conference webinar led by Tom Wheelwright, CPA, CEO of WealthAbility®, entrepreneur and best-selling author of Tax-Free Wealth. Participants also receive 18 hours of Continuing Professional Education credits in qualifying states. Follow WealthAbility® on social media @4wealthability on Facebook, @wealthability_now Instagram, and @wealthability on Twitter for event updates.

About WealthAbility®
WealthAbility® is a leading financial education company created by CPA, CEO, Author and Speaker Tom Wheelwright to revolutionize the way entrepreneurs, investors and CPAs manage wealth, global change and their business. The overall goal is to help clients “Make Way More Money and Pay Way Less Taxes.” To better serve clients, WealthAbility® provides a new platform of educational tools and global network of CPAs trusted by over 244,123 entrepreneurs and investors to reduce taxes and create wealth. Through these tools, WealthAbility® helps clients reduce taxes by 10-40%, increase confidence in clients’ personal ability to create wealth, and achieve financial dreams – much faster. In addition, the WealthAbility® Network for accounting professionals is educating CPAs and other accounting professionals to better serve clients and run more successful businesses. https://wealthability.com/

About WealthAbility® Founder Tom Wheelwright
Tom Wheelwright is a CPA, Global Tax Strategist, Educator, Entrepreneur and CPA, who is sought-after as both a tax expert and successful business leader. Wheelwright is CEO of WealthAbility®, Best-Selling Author of “Tax-Free Wealth”, Owner and Active CPA for Wheelwright Manahan, Speaker, and Host of 2 popular podcasts, including The WealthAbility® for CPAs Show. Wheelwright advises CPAs, accounting professionals, small business owners, entrepreneurs and investors how to permanently and legally reduce their taxes by 10-40%. Previously, Wheelwright was a Manager in the National Tax Office of Ernst and Young, Adjunct Professor in the Masters of Tax Program at Arizona State University for 14 years, and Fortune 500 in-house tax advisor and tax lobbyist. And Wheelwright has been a contributor and source to The Tax Advisor, The Journal of Partnership Taxation, Taxation For Accountants, Taxation for Lawyers, and Tax Notes. He is also a regular tax contributor to The Journal of Accountancy, Entrepreneur Magazine, Accounting Today, The Wall Street Journal, National Public Radio, Marketplace, Fox and Friends, ABC News and many more media. https://tomwheelwright.com/

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