If President Trump wins the election, capital gain rates are likely to remain about the same. However, if former Vice President Joe Biden wins the election, his plan is to increase the capital gain rate from 20% to 39.6% for individuals earning more than $1 million.

The objective of this class is to review the following technical estate, gift, and income tax minimization techniques for advisors to high-income business owners, professionals, and families planning intergenerational wealth transfers.

Should the Democrats win the White House and Senate, clients will need to weigh and act on the long list of tactics below before they expire at the end of the year. And, since the election results may be contested and delayed, professionals owe a duty to clients to be prepared to act swiftly.

• Charitable remainder trusts to defer and eliminate capital gains
• §453 installment sales to reduce capital gains
• how to elect out of installment sale treatment to accelerate gains into 2020
• The math of recognizing capital gains in 2020
• Grantor charitable lead trusts to cut capital gains
• Direct charitable gifts to reduce capital gains
• Opportunity zone investments and reducing capital gains
• Integrating loss harvesting in an overall capital gains strategy
• Using §1031 exchanges to lower capital gains
• Collars, variable forward sales, and options to manage capital gains
• IRC §1259 “choking” collar to trigger capital gains in 2020 or defer gains
• “Short against the box” strategies to choose between recognizing gains in 2020 or 2021

Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA, is a partner at Keebler & Associates. Bob has been named by CPA Magazine as one of the Top 100 Most Influential Practitioners and one of the Top 40 Tax Advisors to Know During a Recession. His three-decades as an educator of tax professionals makes him a once-in-a generation figure in the leadership of the accounting profession.