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Analyzing 1040s for Financial Planning Opportunities

Utilizing Demographics, Income, Schedules B, C, D, E, and A to Better Serve Clients

A live 110-minute CPE webinar with interactive Q&A

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Thursday, August 14, 2025

1:00pm-2:50pm EDT, 10:00am-11:50am PDT

Early Registration Discount Deadline, Friday, July 18, 2025

or call 1-800-926-7926
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This webinar will review Form 1040, U.S. Individual Income Tax Return, and demonstrate how tax advisers can and should utilize the information provided and reported on a taxpayer's return to identify financial planning opportunities for taxpayers. Our Financial Planning Specialist will discuss the correlation of specific portions of a tax return with tax planning ideas and meaningful conversations that should take place with clients. He will also address how the extension and expiration of certain TCJA provisions and The One, Big, Beautiful Bill impacts financial planning for taxpayers.

Description

The demographics, schedules filed, filing status, and level of income accumulated to prepare a client's individual income tax return point to opportunities for taxpayers to better prepare for the future. Tax practitioners can use this data to provide financial planning recommendations and better serve their clients.

The AICPA recently updated its checklist "Analysis of a tax return for financial planning opportunities." Beginning with page 1 of Form 1040, it suggests that dependents on a tax return begs the question, "Has the client considered gift and estate planning opportunities for his or her dependents." This conversation could uncover additional planning needs, including a 529 plan, life insurance, or the importance of updating all beneficiary designations. A taxpayer's occupation listed could suggest a need for professional liability or disability insurance. A client's age or birthdate may indicate the need to verify wage history with the Social Security Administration or RMD planning.

A client's investment income on Schedules B and D might warrant a discussion of FDIC limits, tax-exempt investments, or foreign bank account reporting requirements. Tax practitioners working with individual income tax clients should explore the benefits and value analyzing a taxpayer's 1040 can add to the client relationship.

Listen as our Certified Financial Planner walks tax practitioners through the forms, schedules, and lines of Form 1040 to identify areas that tax professionals can address to assist in planning for the future, and financial planning opportunities offered by the recent tax bill.

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Outline

  1. Analyzing Form 1040: introduction
  2. Demographics
  3. Income
  4. Adjustments to income
  5. Schedule B
  6. Schedule C
  7. Schedule D
  8. Schedule E
  9. Schedule A
  10. The impact of recent legislation on Form 1040

Benefits

The speaker will cover these and other critical issues:

  • Planning considerations for taxpayers with rental properties on Schedule E
  • How a client's location impacts his financial planning
  • When and how Social Security planning should be addressed for taxpayers
  • How certain items on Form 1040 indicate a need for additional estate planning
  • Investment considerations relative to items on Schedule B

Faculty

Pon, Larry
Larry Pon
CPA/PFS, CFP, EA, USTCP, AEP
Pon & Associates

Mr. Pon has been in practice since 1986 providing comprehensive accounting, tax, payroll, and business advisory...  |  Read More

Attend on August 14

Early Discount (through 07/18/25)

CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event. See NASBA details.

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Early Discount (through 07/18/25)

CPE credit is not available on downloads.

CPE On-Demand

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