Strategies for reducing net investment income include municipal bonds, tax deferred annuities, life insurance, rental real estate, oil and gas investments, choice of accounting year for estate/trust and timing of estate/trust distributions. Strategies for reducing modified adjusted gross income include Roth IRA conversion, CRTs, non-grantor CLTs, and installment sales. Join Robert Keebler, CPA of Keebler and Associates LLP in this podcast as he walks you through year-end planning for the 3.8% NIIT.

Year-End Planning: The 3.8% Net Investment Income Tax

AICPA Insights is the official blog for the American Institute of CPAs. AICPA Insights features posts from AICPA staff on a variety of topics affecting the accounting profession, the Institute and its members.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

In this podcast, Bob Keebler covers Revenue Procedure 2014-18, which provides a simplified method for certain taxpayers to obtain an extension of time to make a portability election. Rev. Proc. 2014-18 provides an automatic extension for certain estates of decedents dying in 2011, 2012 and 2013 to elect portability. The extension applies to estates that would otherwise not have had a filing requirement, and allows the estates to file a return to elect portability until December 31. It includes the estates of same-sex decedents who were not eligible to elect portability until after the Windsor decision.

Relief for Missed Portability Elections

Bob Keebler interviews David Kirk and Adrienne Mikolshek, part of the team who wrote the Net Investment Income Tax regulations, to help members understand the new IRS Form 8960, Net Investment Income Tax for Individuals, Estates and Trusts and the draft instructions.

Interview with Team Who Wrote Net Investment Income Tax

Bob Keebler goes line by line through Form 8960, Net Investment Income Tax for Individual, Estates and Trusts, to help members understand key elements they need to know for tax season.

Explore the New IRS Form for Net Investment Income Tax

Over the past three decades CPAs have expanded the planning advice they provide to individuals and families as it relates to such areas as estate, retirement, risk management and investment planning. To adapt to a rapidly evolving profession and regulatory landscape and in addition to the already existing regulatory framework for CPAs, the AICPA is promulgating the Statement on Standards in Personal Financial Planning Services to protect the public and our members. In this podcast, Clark Blackman and Dirk Edwards lead you through a discussion on the nature and objective of the SSPFPS; when and to whom it applies; an overview of the requirements; how the standard will help elevate your practice; and the timeline for issuance and resources.

Understanding and Applying the Statement on Standards in PFP Services

In this podcast, Bob Keebler discusses the impact of the regulations on net investment income tax.

Year-End Planning: The 3.8% Net Investment Income Tax

Download our free app to listen on your phone