Client-Centered Advising: Mastering Cognitive Bias Influence

Financial professionals routinely encounter cognitive biases and mental shortcuts with clients. Research by Kahneman & Tversky (2013) demonstrates how these heuristics can lead to suboptimal financial outcomes. Baker & Ricciardi (2014) found that advisor awareness of behavioral biases significantly improves client outcomes. Yet, heuristics and biases can be helpful, too. Professionals must also recognize their own biases which can compromise objective guidance.

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Opportunity and Complexity of Employer Stock Programs

RSU and ESPP employer stock programs serve as valuable wealth-building tools, each presenting unique advantages and challenges, including complex taxation. Both programs require careful consideration of participation, trading windows, vesting schedules, and concentration risk. Understanding the nuances of qualifying vs. non-qualifying dispositions, wash sales, and tax withholding strategies can significantly impact client outcomes. Financial professionals play a vital role in helping clients understand and navigate these complexities.

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How to Escape Being a Landlord: 5 Tax Tips for Military Service Members

Military families often build real estate portfolios through VA loans and PCS moves, but managing properties can eventually become impractical or unpleasant. This breakout session with Ian Gates will explore strategies for stepping back while minimizing tax impacts, starting with simple solutions and progressing to more advanced approaches. Ian will discuss the personal residence capital gains exclusion for Military Members under 26 U.S. Code § 121(d)(9) and provide tips on shopping for property managers. He will then explain property exchanges allowed by §1031 of the Internal Revenue Code, highlighting how to enable heirs to benefit from a step-up in basis. Finally, Ian will describe how Delaware Statutory Trusts (DSTs) can provide passive income and diversification, plus allow transitioning into UPREITs to avoid repeated reinvestment requirements.

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Taxes, Investing, and Government Benefits

In this session, we will explore the financial landscape for military retirees, focusing on key areas to enhance their financial well-being. You'll gain insights into how taxes impact both Enlisted and Officer retirees, helping you optimize their tax strategies. Additionally, we will review various options for managing the Thrift Savings Plan (TSP) post-military separation, ensuring informed decision-making for retirement savings. Furthermore, we'll cover essential information on Government Benefits, including Servicemembers Group Life Insurance (SGLI) and the Survivors Benefit Plan (SBP), providing a comprehensive understanding of how these benefits can support long-term financial security. This session aims to equip financial advisors with the knowledge needed to guide military retirees confidently in achieving their financial goals.

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Grief to Growth: Building Financial Security for Military Survivors

After the loss of a military member or veteran, surviving family members face a complex landscape of financial decisions intertwined with their grief. This panel, led by professionals who are military widows, financial professionals and experienced counselors, provides compassionate guidance on helping survivors navigate financial challenges with sensitivity and empowerment. Attendees will learn about key financial resources available to military widows and survivors, strategies for building financial stability, and ways to create a sustainable future for themselves and their families. Discussion will cover long-term planning, emotional considerations, and practical steps toward financial independence, while exploring the unique impact of grief on financial decision-making. With a focus on empowerment and resilience, this session offers valuable insights and actionable advice for financial professionals and counselors working with military widows and survivors, equipping them with tools to provide both financial and emotional support through each stage of the journey.

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Paying Your Taxes Without Tipping the IRS: CZTE Extraction and IRS Form 8606

Tracking CZTE Contributions, TSP Rollovers, and Non-Deductible IRA Basis to Avoid Double Taxation Overview of TSP Rollovers: Understand the process and benefits of rolling over Thrift Savings Plan (TSP) funds. CZTE Contributions: Learn how to extract Combat Zone Tax Exclusion (CZTE) contributions from TSP accounts. Tax Implications: Explore the tax benefits and considerations of CZTE contributions. IRS Form 8606: Gain insights on completing IRS Form 8606 for reporting non-deductible contributions to traditional IRAs. Avoiding Double Taxation: Learn how to track the basis of non-deductible contributions to prevent double taxation.

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