Financial Wellness LIVE
Sponsorship Opportunities
Sponsorship Opportunities
Learn more about sponsorship opportunities with the Center for REALTOR® Financial Wellness Tax Summit.
As a REALTOR®, saving and investing are both important items to consider in your financial plan. By putting your money to work, certain strategies can help you build wealth, outpace inflation, and increase value for long-term success. NAR’s Center for REALTOR® Financial Wellness is here to help with the Investment Summit, a four-part webinar series that took place in September 2022.
Hear from industry experts as they discuss strategies for investing in the stock market and real estate.
Each of the four one-hour webinars covered useful information geared towards newer agents, but were open to all REALTORS® in any career stage. Webinars are not sold separately.
Sessions
Session 1: Investing for Absolute Beginners
Wednesday, September 7
Ever wonder what people mean when they say you should have a more aggressive portfolio and rebalance your debt and equity with more exposure to ESG, ETFs, and REITs, while avoiding wash sales and STCG rates? This is your chance to ask your most basic investing questions without fear.
We'll demystify the vocabulary, debunk a few myths, and increase your confidence. Afterwards, you'll be able to understand more of what you read about investing, take some sensible actions, and know who you can ignore.
Session 2: Investing for the Seasoned and Sophisticated
Wednesday, September 14
This session is for those who are familiar with the basics and want to do more sophisticated investing. We'll talk how to evaluate a good stock vs. a good company; technical vs. fundamental stock analysis; and various classes of investments including stocks, bonds, funds, ETFs, private equity, options and derivatives, real estate (of course!), and even a little about cryptocurrency. Also, how to build a prudent portfolio with diversification, liquidity, and potential upside.
Session 3: Real Estate Investing for REALTORS®
Wednesday, September 21
Real estate investing can help you achieve financial independence. As REALTORS®, we have several advantages in the real estate market, from our inside knowledge of the forces and trends that dictate our local markets, to resources like private financing and discounts. Being a REALTOR® also carries with it the weight of extra accountability. As REALTORS®, we must be thorough in our disclosures and careful to assess the properties in which we choose to invest.
Session 4: Intro to Commercial Real Estate Investing
Wednesday, September 28
What are your investment goals? Why choose commercial real estate? Commercial real estate includes multi-family, retail, industrial, and office space. Investing in commercial real estate offers unique advantages and various potential benefits. Among these benefits are steady cash flow and higher income potential. However, it is important that the investor thoroughly completes due diligence prior to purchasing commercial real estate to ensure that it aligns with their investment goals.
Speakers
Sessions 1 & 2: Heather C. Liston CFP®, CPA, EA
Heather Liston is a Certified Financial Planner™ (CFP®) and an Enrolled Agent. She does fee-only financial planning through Clarity Financial (clarityfinancialca.com), and also prepares tax returns.
Heather studied liberal arts at Princeton University and earned a Masters in Accounting at the New York University Graduate School of Business Administration, and a Certificate in Personal Financial Planning from the University of California at Berkeley. She teaches financial planning courses (including Income Tax and Retirement Planning) and Accounting at UC Berkeley Extension.
Sessions 3 & 4: Nick Krautter, REALTOR®
Nick Krautter is the author of The Golden Handoff: How to Buy and Sell a Real Estate Agent's Business and a top REALTOR® since 2006 in the Portland, Oregon market. Nick is an avid golfer, writer, reader, talker and still gets up early, excited about what each day holds.
Why Attend?
Experts:
Hear from subject matter experts who will cover in depth financial topics and provide you with tips, worksheets, and guides. By registering and attending the live session, have your questions answered during the live Q&A.
Energy:
Feel equipped to take on your biggest financial challenges. Discover new tips and solutions to help you manage your personal and business financial goals. No matter where you are in your career or stage of financial planning, we have something for you!
Empowerment:
Knowledge is power, especially during these unprecedented times. The need to plan for unforeseen changes has never been more evident. Get new tips and solutions for the next stage of this year, both personally and professionally. Your road to success is one RSVP away.
Financial Wellness LIVE: Tax Summit (February 2022)
Financial Wellness LIVE: Tax Summit (February 2022)
Let’s face it: Filing taxes as an independent contractor can cause a lot of anxiety—whether it’s managing tax documents or keeping up with constant tax law changes. NAR’s Center for REALTOR® Financial Wellness is here to help with the Tax Summit, a four-part webinar series that took place in February 2022.
Session Topics
Tax Considerations for the Newly Self-Employed
Congratulations! You’re finally working for yourself. Now, what does that mean for your tax situation? It’s important to get off on the right foot to avoid any unpleasant tax surprises related to your new status. We’ll look at issues like:
- Do I really have to pay estimated taxes? When and how and how much?
- What is self-employment tax?
- What forms do I file for an S-Corp vs. an LLC vs. a Sole Proprietorship?
- What business expenses are tax-deductible?
- How can I keep track of all that?
Presenter: Heather C. Liston, CFP®, E.A.
What to Do If You've Got IRS Trouble
Taxes are complicated in the best of times, and the last couple of years have not been the best of times. Constant changes in the tax law, redesign of basic forms, and changes in enforcement priorities have left a lot of people with unexpected tax liabilities, not to mention fines, late fees, and interest. We’ll talk about how to get back on the right foot with tax withholding and reporting, and what to do if you find yourself at odds with the IRS.
- How to avoid owing money: Estimated taxes, managing your withholding, and the importance of filing.
- IRS errors: How to spot them; how to handle them.
- What if it’s not your fault? Injured spouse and innocent spouse remedies.
- Worst-case scenarios: liens, garnishments, and more.
- Statutes of Limitations.
- Mitigations: Appeals, payment plans, amended returns.
Presenter: Heather C. Liston, CFP®, E.A.
2022 Small Business Advanced Tax Update
REALTORS® were given a huge tax gift when the 2017 Tax Cuts & Jobs Act was enacted. Congress and the current President are now looking to scale back some of those tax benefits to help pay for a new infrastructure program and expanded social programs. How will REALTORS® fair in the next major tax overhaul. Ryan Losi will walk you through these changes which at the time of this webinar could in fact have already been enacted. He'll also spend some time discussing how you might plan for this upcoming tax season and into the future as part of this session.
Presenter: Ryan L. Losi, CPA®
Your Financial Golden Years: Taxes & Retirement
Tax planning matters at every stage of your career, and that’s true even after you stop working. Will your tax bracket suddenly plummet? Or will it have spikes and valleys that you can manage strategically? We’ll talk about smoothing out your tax brackets during retirement, the Golden Planning Opportunity: ages 59.5 to 72, and questions like:
- How is Social Security income taxed?
- What if I relocate to a new state when I retire?
- Do I have to pay tax on my pension?
- What’s the deal with RMDs?
- Should I do Roth conversions?
Presenter: Heather C. Liston, CFP®, E.A.
Speakers
Heather C. Liston, CFP®, E.A.
Heather Liston is a Certified Financial PlannerTM (CFP®) and an Enrolled Agent. She does fee-only financial planning through Clarity Financial (clarityfinancialca.com), and also prepares tax returns.
Heather studied liberal arts at Princeton University and earned a Masters in Accounting at the New York University Graduate School of Business Administration, and a Certificate in Personal Financial Planning from the University of California at Berkeley. She teaches financial planning courses (including Income Tax and Retirement Planning) and Accounting at UC Berkeley Extension.
Ryan L. Losi, CPA®
Ryan Losi is Executive Vice President for PIASCIK, a boutique tax and financial planning CPA firm headquartered in Richmond, Virginia. Ryan leads the firm’s real estate and international tax practice. Ryan is widely considered as a thought leader on taxation topics such as international business, real estate, manufacturing and healthcare. He has presented to numerous organizations and universities. Ryan has served or currently serves as an adjunct professor for the Executive MBA program at Virginia Commonwealth University, Chairman of the VSCPA Tax Committee, and as Officer and/or Board Member for numerous for-profit and nonprofit organizations. He is a member of the AICPA, PrimeGlobal and the VSCPA.
Financial Wellness LIVE: Retirement Summit (July 2021)
Financial Wellness LIVE: Retirement Summit (July 2021)
Each REALTOR® has a unique vision for retirement. Proactive planning is the first step towards bringing that vision to life. Pay to view the session materials from the experts and get the tips you need help you shape your vision for retirement and develop steps to ensure your finances are set for the long-term.
Note: Based on internal governance policies at Morgan Stanley, a recording of the live session will not be made available. After your registration purchase is confirmed, you will receive a link to access a pre-recorded version of this 4-part-series event.
Session Topics
Retirement Planning Basics (Targeted for New Agents)
Saving enough for a comfortable retirement is one of most people's greatest financial goals—and challenges. This session covers the basics, such as planning ahead, learning the essential tenets of investing and understanding popular retirement accounts.
Getting Retirement Ready (Targeted for Seasoned Agents)
What does the ideal retirement look like? It all depends on your needs and wants. This session discusses everything from the basic considerations for retirement to how to help protect yourself against the unexpected as you near retirement.
Planning for the Unexpected (Targeted for New Agents)
Life is full of surprises. While we may not be able to predict sudden expenses, we can prepare for them to soften their impact. This session covers ways that individuals and families can protect themselves when “life happens,” with tips on building an emergency fund, exploring insurance options and more.
Legacy and Estate Planning (Targeted for Seasoned Agents)
Life happens quickly. Making it a priority to coordinate one’s financial and estate plans can be overwhelming. This seminar can help individuals learn how to balance their goals and provide for the people and causes they care about most.
Speakers
Mike Engel
CFA®, CIMA®, Institutional Consulting Director, Investing with Impact Director, Alternative Investments Director Corporate, Retirement Director
Mike’s extensive background covers multiple degrees and certifications including his B.S. in Accounting from Villanova University, his CFA® and CIMA® through the Wharton School of Business at the University of Pennsylvania, his AIF, and his CPA designation from Arthur Andersen & Co.
Mike has been with Graystone Consulting and predecessor firms for over 35 years. He has experience in providing investment management consulting services to not-for profit organizations, foundations, endowments, pension, profit sharing/401k plans, and high net worth individuals.
Mike served for five years as a Trustee and member of the Investment Committee of Fairfax County Teachers’ Pension Fund. He is also actively involved in his community where he served on multiple boards, local associations, and is a lifetime member of the Eagle Scout Association.
Jim Phillips
Senior Vice President, Alternative Investments Director; Financial Advisor, Senior Investment Management Consultant
Jim partners with his clients to help simplify their financial lives and maintain their desired lifestyle throughout retirement. His clients include successful professionals, small business owners, high net worth individuals, not-for-profit organizations, and foundations.
With over 30 years in the financial industry, Jim has been with Morgan Stanley and its predecessor firms since 2003. He is also a member of the firm’s Chairman’s Council. Jim holds a Bachelor’s Degree in Business Management from the University of Wyoming. He also attended Consulting Group University for advanced studies in asset management. Jim is an Eagle Scout, and has been a Scout Master for the Boy Scouts of America.
Jim and his wife Tammy have been married for 40 years. They enjoy many outdoor-related activities and trips with their children and grandchildren. Jim is also active in his church.
Financial Wellness LIVE: Tax Summit (February 2021)
Financial Wellness LIVE: Tax Summit (February 2021)
Let’s face it, filing taxes can cause a lot of anxiety. As a new agent, managing tax documents, understanding complex returns, and constant tax law changes makes preparing a tax return a tedious process. Pay to view the session materials from the experts and get the tips you need to save time and money while reducing your stress.
Real Estate Agents Tax Guide 101
Michael Westwick, CPA, Director of Finance and Senior Tax Manager
Do you think you spend too much time on your taxes? In this webinar you’ll learn what are the common missed deductions that real estate agents can overlook. We’ll review tax strategies that can be used for either new or seasoned agents. There will also be opportunities to review different business entities and the impact taxes can have on each. With these tips, this session will help point out ways to pay the least amount to the IRS.
Michael Westwick:
Michael is a licensed Certified Public Account and licensed financial Advisor. He has worked at numerous accounting firms and investment firms before Stitely & Karstetter. Michael is in charge of the individual and small business tax practice at Stitely & Karstetter. Michael is also the Director of Finance for Capitol View Wealth Management. Michael uses his knowledge to help his clients pay the least in taxes and save for retirement. He started his financial advising career working with real estate agents. To date he has set up hundreds of retirement plans for real estate agents and real estate related clients. Michael also serves on the board of directors for the Loudoun Estate planning council and the Dulles Chamber.
What to Do If You’ve Got IRS Trouble
Heather C. Liston, CFP, E.A. Vice President & Advisor at Hargrave Fiduciary Advisors, LLC
Taxes are complicated in the best of times, and the last couple of years have not been the best of times. Constant changes in the tax law, redesign of basic forms, and changes in enforcement priorities have left a lot of people with unexpected tax liabilities, not to mention fines, late fees, and interest. We’ll talk about how to get back on the right foot with tax withholding and reporting, and what to do if you find yourself at odds with the IRS.
- How to avoid owing money: Estimated taxes, managing your withholding, and the importance of filing
- IRS errors: How to spot them; how to handle them
- What if it’s not your fault? Injured spouse and innocent spouse remedies
- Worst-case scenarios: liens, garnishments, and more
- Statutes of Limitations
- Mitigations: Appeals, payment plans, amended returns
Heather C. Liston:
Heather Liston is a Certified Financial Planner (CFP) and an Enrolled Agent. She does fee-only financial planning through Clarity Financial (clarityfinancialca.com), and also prepares tax returns. Heather studied liberal arts at Princeton University and earned a Masters in Accounting at the New York University Graduate School of Business Administration, and a Certificate in Personal Financial Planning from the University of California at Berkeley. She teaches financial planning courses (including Income Tax and Retirement Planning) and Accounting at UC Berkeley Extension, and at Golden Gate University in San Francisco.
Increase Personal Wealth by Spotting Opportunities for Improvement in Your Tax Return
Rich Arzaga, CFP, AIF, Founder and CEO of Cornerstone Wealth Management
Now is the time to gather your documents and go through the process of completing your return. This is also the time when many taxpayers feel a little anxiety and uncertainty as they ask themselves:
- Did I do the best I could to minimize taxes and create more opportunities for personal wealth?
- Is there anything more I can do to take advantage of my unique position as a REALTOR® and independent contractor?
- What exactly should I be looking for in my return, and what does it mean?
In this webinar, a Certified Financial Planner will walk through a federal income tax return and point out frequently missed planning opportunities. He will explain areas in the Form 1040 that offer the most opportunity to save taxes and build personal wealth. These are lessons that can help you for this year, and the rest of your life. Following a 45-minute walk through and education, he will take questions that are important to you.
Rich Arzaga:
Rich Arzaga is a Certified Financial Planner, an Accredited Investment Fiduciary, a former REALTOR®, and the founder and CEO of Cornerstone Wealth Management. He is also a long-time Adjunct-Professor in the UC Berkeley Personal Financial Planning program. Rich has offered to make himself available as a resource to members of the National Association of REALTORS® and participants in its Financial Wellness Program.
A Deeper Dive Into Several Real Estate Tax Topics
Evan Liddiard, CPA, NAR Director of Federal Tax Policy and Policy Advocacy
Tax issues are everywhere you look in the real estate world. From deciding whether you will operate as a sole proprietor filing a Schedule C on your Form 1040 to deducting the costs of a home office to understanding the basics of the qualified business income deduction, tax decisions are integral to the business of a real estate professional.
Many of your clients (or maybe you) own rental property. How well do you understand the basics of depreciating real property or the vacation home rules? This webinar will cover these topics, as well as the fundamentals of 1031 like-kind exchanges and gains and losses on sales of real estate.
Evan Liddiard:
Evan Liddiard, CPA, joined NAR in 2013 after serving for more than 20 years on the staff of Senator Orrin G. Hatch (R-Utah), former chairman of the Finance Committee. Mr. Liddiard was Senator Hatch’s lead advisor on tax policy issues. Evan also has extensive experience working for several CPA firms. Mr. Liddiard received his B.S. in Accounting from the University of Utah and also has graduate degrees from George Washington University and American University, where he is an adjunct professor in the tax program.
Our March 2020 Event
Wednesday, March 4, 2020 marked the first Financial Wellness LIVE Event.
Special thanks to the BayEast Association staff for being a gracious host and for our well-versed speakers who provided detailed information on various financial subjects. It was an honor to also have support from John Flor, 2020 NAR Treasurer representing the NAR leadership team and the visionary for this program, Bill Brown, 2017 NAR President.
If you were not able to attend this LIVE session or would like more information on the topics that were discussed, please see the presentations below for details. Subjects covered the following:
Getting Your Financial House in Order
Victoria Gillespie, Chief Marketing and Communications Officer for the National Association of REALTORS®
Productive and successful Real Estate Professionals provide impeccable client service and take care of all the needs of their clients during the transactions and beyond. Highly Successful Professionals take it one step further in developing solid financial habits for themselves and their families.
Victoria Gillespie, Chief Marketing and Communications Officer of the National Association of REALTORS®, will help you develop and keep healthy financial habits that will improve the success of your personal and business financial well-being.
Download presentation (PPTX: 33.6 MB)
Strategies for Investors
Matthew Ritchie President/Broker Ritchie Real Estate, LLC
Investing in real estate can offer several advantages over other types of investments, including potentially higher returns, stability, inflation hedging, and diversification.
Matt Ritchie, President/Broker Ritchie Real Estate, LLC will cover topics on how to get capital to invest, managing the asset, analyzing the investment, and the importance of selecting the right property. This informative session will help lay the foundation and emphasize why investing in real estate is a great way to build wealth and fund your retirement.
Download presentation (PPTX: 5.36 MB)
Retirement Planning for Independent Contractors
Mike Engel, Director of Corporate Retirement and National Strategic Partner for Graystone Consulting
Jim Phillips, SVP Wealth Management Financial Advisor and Senior Investment Management Consultant
Each REALTOR® has a unique vision for his/her retirement; so, proactive planning is the first step towards bringing that vision to life. This seminar will help REALTORS® determine how much they will need for the retirement they envision and how to develop a retirement strategy that maximizes their likelihood of success.
Join Mike Engel, Director of Corporate Retirement and National Strategic Partner for Graystone Consulting and Jim Phillips, SVP Wealth Management Financial Advisor and Senior Investment Management Consultant, as they talk about different retirement strategies for independent contractors.
Download presentation (PPTX: 5.64 MB)
What’s Your Exit Strategy?
Michael Soon Lee, Broker Associate at Realty One Group Future
Whether you are a new or seasoned real estate professional, its never too early to start thinking about retirement. Instructor Michael Soon Lee is here to teach you how to quickly and easily save for retirement. Learn valuable information such as: ‘Why most REALTORS® can never retire’, ‘How to save for retirement when it’s hard to make ends meet’, ‘The importance of planning your long-term care’, and so much more.
Download presentation (PPTX: 13 MB)
Download handout (PDF: 65 KB)