MNCPA Tax Conference

E Sessions

Monday, November 16,
1:40 p.m. - 2:55 p.m.

E1. Walking the Tightrope: Planning for College and Retirement

Speaker(s): Ross Riskin
NASBA field of study: Specialized Knowledge - Technical (1.5)

Rising costs of higher education, the shift to online learning, the impact of COVID-19 and the need to balance retirement saving with education funding -- families rely on you to help them navigate these financial complexities. In this practical session, see how middle-class families can address planning and saving for these two major financial goals simultaneously. Learn about education funding, financial aid planning and student loan advising strategies. Examine recent trends and research in retirement to help the 99% plan accordingly and understand how lifestyle choices affect happiness in retirement. Come away with tips to help clients achieve their college funding and retirement savings goals.

E2. Debt-Related Tax Issues in a Pandemic

Speaker(s): Edward Zollars
NASBA field of study: Taxes - Technical (1.5)

The pandemic has put businesses and individuals under severe financial stress, prompting defaults on loans, foreclosures and restructurings of debt obligations. Examine the tax implications of these debt-related scenarios. Explore the general tax treatment of debts satisfied for less than face value or involved in foreclosure transactions. See which tests are applied to determine when and if a debt has been cancelled for tax purposes. Learn about the impact of recourse vs. nonrecourse debts on tax obligations. Explore Section 108 issues, including its impact on tax attributes and the differences between bankruptcy and insolvency under these provisions. Uncover the latest challenges and tax issues so you can steer your clients in the right direction.