Education planning for business owners has always been challenging due to the way the financial aid regulations interact with tax laws. Valuing a business for a client, providing multiple years of detailed financial information, and determining how colleges may assess the assets and income generated from a business are among these challenges. This presentation will highlight education planning strategies impacted by the Tax Cuts and Jobs Act, SECURE Act, CARES Act, CAA, and American Rescue Plan, and will focus on how business entity choice with the new lower corporate tax rate and the new IRC 199A (QBI) deduction will factor in from both financial aid and tax planning perspectives.
Learning Objectives:
- Identify education tax planning strategies for business owner clients
- Evaluate how the financial aid system assesses financial aid eligibility for students with parents who are business owners
- Determine the best business entity structure for tax and financial aid planning purposes as a result of legislative changes from the TCJA, SECURE Act, CARES Act, CAA, and American Rescue Plan
Ross A. Riskin, DBA, CPA/PFS, CCFC, MS Tax
Ross Riskin
Creating Educational Moments That Matter for Financial Planners, Wealth Managers, and Tax Advisors
ross@rossriskin.com
Dr. Riskin serves as Chief Learning Officer for the Investments & Wealth Institute and his research and professional expertise focus on advice engagement, education planning, and tax and wealth transfer planning for high-income and high-net-worth individuals. He is also the Founder and Chief Creative Officer at visiWealth, and sits on the Advisory Board for the American Institute of Certified College Financial Consultants (AICCFC).
Ross is recognized as a thought leader and expert in the areas of tax planning, college planning, student loan advising, and advice engagement, and he is the author of The Adviser’s Guide to Education Planning: 1st and 2nd Editions, which are published by the AICPA. Ross has presented to over 25,000 individuals through webinars, conferences, and in the classroom. He has been quoted in media outlets such as the Wall Street Journal, CNBC, Yahoo Finance, US News, The New York Times, and Investment News, and has also been published in journals such as the Journal of Wealth Management, Journal of Financial Planning, Journal of Accountancy, Tax Notes, and the Journal of Multistate Taxation and Incentives.
In addition to being a CPA/PFS and Certified College Financial Consultant (CCFC), Ross received a Bachelor of Science in Accounting degree from Fairfield University, a Master of Science in Taxation degree from Bentley University, and a Doctorate of Business Administration in Finance degree from Sacred Heart University.
About Our Presenter
Ross is recognized as a thought leader and expert in the areas of tax planning, college planning, student loan advising, and advice engagement, and he is the author of The Adviser’s Guide to Education Planning: 1st and 2nd Editions, which are published by the AICPA. Ross has presented to over 25,000 individuals through webinars, conferences, and in the classroom. He has been quoted in media outlets such as the Wall Street Journal, CNBC, Yahoo Finance, US News, The New York Times, and Investment News, and has also been published in journals such as the Journal of Wealth Management, Journal of Financial Planning, Journal of Accountancy, Tax Notes, and the Journal of Multistate Taxation and Incentives.
In addition to being a CPA/PFS and Certified College Financial Consultant (CCFC), Ross received a Bachelor of Science in Accounting degree from Fairfield University, a Master of Science in Taxation degree from Bentley University, and a Doctorate of Business Administration in Finance degree from Sacred Heart University.
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