The Tools & Techniques of Income Tax Planning, 8th Edition

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Navigate the latest income tax rules and regulations and simplify the tax aspects of complex planning strategies for your individual, small-, and medium-size business owner clients. Includes chapters on the SECURE Act and SECURE Act 2.0.

With the passage of the SECURE Act in late 2019 and the SECURE Act 2.0 of 2022, financial advisors, planners, and insurance professionals are in need of up-to-date, reliable tools and expert insights into income tax planning techniques.

Every area of tax planning covered in this book is accompanied by the tools and techniques you can use to:

  • Help your clients successfully navigate the latest income tax rules and regulations;
  • Quickly simplify the tax aspects of complex planning strategies; and
  • Confidently advise your individual clients as well as small- and medium-size business owners.

You'll find:

  • Detailed explanations of complex real-world tax issues
  • Easy-to-read explanations of how various tax strategies work and when they should and should not be employed
  • Clear, thorough examples that show exactly when certain tax rules apply and how planners can help their clients avoid “tax traps” that can lead to unexpected and unnecessary tax liability
  • Comprehensive explanation of investment-related tax concepts, which help investors and planners devise tax-efficient strategies
  • Thoughtful, independent advice about the best strategies for specific situations

New in the 8th Edition:

  • Updated SECURE Act chapter and a brand new chapter on the SECURE 2.0 Act, including legislation updates through the year 2033
  • New SECURE 2.0 Act chapter includes legislation updates on topics such as catch-up contributions, Roth IRA plan changes, and automatic enrollment
  • Details on IRS and DOL regulatory changes
  • Updates to keep all chapters up-to-date, such as changes to form 1040 made in 2018 for Chapter 7 and new like-kind rules from 2018 for Chapter 29
  • Updated advice on retirement planning issues, the unwinding of COVID-19 legislation, and changing RMD withdrawal and penalty requirements
  • New plan contribution and catch-up provisions, including updated student loan matching options and Roth contribution options for SEP and SIMPLE retirement plans
  • Updated plan and IRA distribution options including new 10% penalty waivers, and new withdrawal types for domestic abuse, family emergencies, 529 Roth conversions, and more
  • Litigation updates

Key Topics Covered:

  • SECURE Act and SECURE Act 2.0
  • Contribution limitations, including Roth IRAs and mandated employer contributions
  • Capital gains and losses, including both long-term and short-term gain
  • Tax planning for small and medium-sized businesses as well as individuals
  • Information on tax filing, including filing status, when to file, and failure-to-pay penalties
  • Asset planning and retirement planning, including required minimum distributions
Additional Information
SKU 2740008B
Publication Date May 29, 2024
ISBN 978-1-58852-842-1
Page Count 494
Author Stephan R. Leimberg and Brandon Truitt
Edition 8th
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Stephan R. Leimberg

The late Stephan R. Leimberg was CEO of Leimberg and LeClair, Inc., an estate and financial planning software company, CEO of LISI, Leimberg Information Services, Inc., an email newsletter service, and President of Leimberg Associates, Inc., a publishing and software company. He was an Adjunct Professor in the Masters of Taxation Program of Villanova University School of Law and former adjunct at Temple University School of Law. He holds a B.A. from Temple University, and a J.D. from Temple University School of Law. Leimberg was the Editor of the American Society of Financial Service Professionals audio publication, Keeping Current.

Leimberg was the author or co-author of numerous books on estate, financial, and employee benefit and retirement planning and a nationally known speaker. Leimberg was the creator and principal author of the entire nine-book Tools & Techniques series, including The Tools & Techniques of Estate Planning, The Tools & Techniques of Financial Planning, The Tools & Techniques of Employee Benefit and Retirement Planning, The Tools & Techniques of Life Insurance Planning, The Tools & Techniques of Charitable Planning, The Tools & Techniques of Investment Planning, The Tools & Techniques of Risk Management, The Tools & Techniques of Practice Management, and The Tools & Techniques of Retirement Income Planning. Leimberg was co-author of Tax Planning with Life Insurance with noted attorney Howard Zaritsky, The Book of Trusts with attorneys Charles K. Plotnick and Daniel Evans, and How to Settle an Estate with Charles K. Plotnick. He was also a contributing author of the American Bar Association’s The Lawyer’s Guide to Retirement.

Leimberg was co-creator of many software packages for the financial services professional, including Estate and Financial Planning NumberCruncher (estate planning), DeCoupleCruncher (estate planning), Financial Analyzer II (financial calculations), Estate Planning Quickview (Estate Planning Flow Charts), Life Settlement NumberCruncher (life settlement buy-hold analysis), Planning Ahead for a Secure Retirement (PowerPoint Client Seminar) and Toward a Zero Estate Tax (PowerPoint Client Estate Planning Seminar).

A nationally known speaker, Professor Leimberg addressed the Miami Tax Institute, the NYU Tax Institute, the Federal Tax Bar, the Notre Dame Law School and Duke University Law School’s Estate Planning Conference, the National Association of Estate Planners and Councils, the AICPA’s National Estate Planning Forum, the ABA Section on Taxation, and The Annual Meeting of the American Society of Financial Service Professionals. Leimberg also spoke to the Federal Bureau of Investigation, and the National Aeronautics and Space Administration.

Leimberg was awarded the Excellence in Writing Award of the American Bar Association’s Probate and Property Section. He was honored as Estate Planner of the Year by the Montgomery County Estate Planning Council and as Distinguished Estate Planner by the Philadelphia Estate Planning Council. He was also a recipient of the President’s Cup of the Philadelphia Life Underwriters, a two-time Boris Todorovitch Lecturer, and the First Ben Feldman Lecturer.

Leimberg was named Edward N. Polisher Lecturer of the Dickinson School of Law and 2004 recipient of the National Association of Estate Planners and Councils Distinguished Accredited Estate Planner award.

Leimberg’s LISI email newsletter/data base at is used daily by thousands of estate, financial, employee benefit, charitable, and retirement planning practitioners.

Brandon Truitt

Brandon worked at Fidelity Investments for 14 years in a variety of leadership roles focusing on workplace benefits and financial plan delivery. During his tenure there, he helped launch their executive compensation group, workplace guidance department, and was in charge of operational execution for over 300 financial planning professionals. These teams address a myriad of investment issues specializing in retail accounts, DC plans, DB plans, institutional products, retirement accounts, and other employee benefits. In addition to the CFP® designation, Brandon also holds the MPAS® and CRPC® designations.

Brandon grew up in Austin, Texas, and currently teaches as an adjunct faculty member at the University of Dallas. He attended McNeil High School and was recognized as a National Merit Scholar, National AP Scholar, and graduated top ten in his class. He earned his undergraduate degree studying English and Philosophy from Texas A&M University. There, he was recognized as a University Scholar and Lechner Scholar by the university honor’s department. Brandon is a FINRA arbitrator and holds a Master’s of Science in Personal Financial Planning.

In his spare time, Brandon is a member of the Dallas/Fort Worth FPA® chapter and likes to read, write, play tennis, and work on home improvement projects. He currently teaches CFP® Education and Live Review classes around the U.S.