By D. Bruce Johnston, President, DBJ Associates

I touched base with wealth management consultants Charles “Chuck” Steege, CFP,^® and Philip J. Siana, CPA, recently to find out why they chose the dog days of summer to introduce their three-part webinar program, The Golden Summer Of 2009: Uncovering The Fortune That Lies Hidden In Executive Compensation. Chuck serves as Executive Financial Coach and President of SFG Wealth Planning Services, Inc. and SFG Investment Advisors, Inc., an SEC registered investment advisor. Phil is a tax attorney and Principal of Porzio, Bromberg & Newman P.C.

DBJ: Aren’t people trying to get away during the summer? Why would they attend a webinar?

Phil: We picked the summer because we find that our clients liked thinking about their money when they are relaxed and comfortable; perhaps, with a cool drink at their elbow.

Chuck: That’s right, also a lot of other firms avoid the dog days of summer, because they think no one will attend a webinar. That leaves us as one of the few games in town.

Phil: Were trying to pick up the summertime flavor, too. This is not meant to be heavy lifting or overly educational. The truth is there are a number of overlooked tax savings opportunities for high net worth clients – even in August.

DBJ: Like what?

Chuck: During the dot.com bubble, many investors found themselves socked with a big alternative minimum tax (AMT) bill, because they exercised incentive stock options (ISOs) that suddenly sank in value. Now, Uncle Sam is trying to give the money back.

Phil: AMT credits are now like a pot of gold, since Congress voted in 2006 to make them refundable in certain circumstances.

DBJ: Wait. I’m writing this down for my accountant…

Phil: You can even collect a refundable AMT credit for a year when you owe no federal income tax at all.

DBJ: This is all very interesting, but why would someone other than me want to take time from the golf course for this? 

Chuck: We’re keeping the time commitment to a half-hour. Also, there are only three sessions at noon on July 29, August 5 and August 12. We asked Fort Point Growth Partners to help develop the content so it should move along briskly, in plenty of time to get back on the golf course.

DBJ: Are you doing anything else from a social media perspective?

Chuck: Yes. We just signed on with The Executive Compensation Professional Network to see if professionals in the human resource area would be interested in coming to the webinars.

Phil: Regardless of whether an interested party is at the beach or sitting behind a desk, the webinars are aimed at any individual with $1 million and up in investable assets, as well as human resource directors who may wish to learn more about preparing employees to cope with the complex and timely decisions that underpin much of executive compensation. Fifty openings are available and attendance is on a first come, first served basis.

Chuck: The first two webinars will concentrate on the wealth accumulation phase of an individual’s career, while the third webinar will stress best practices for using wealth for the benefit of the individual, their family and their philanthropies.

DBJ: Is there any downside to blissful ignorance and just hanging out at the beach?

Chuck: Not if people don’t mind sending their additional dollars to Washington. The fact is there is still time to file for a refundable AMT credit. If anyone has opted for a late filing for their 2008 Form 1040, they may get cash back right now. If they’ve already filed a 2008 return but were unaware of the refundable AMT credit, they can file an amended 2008 return (using Form 1040X) to get cash back.

DBJ: How difficult is it for a tax payer to get an AMT refunded?

Phil: All they have to do is breathe.

Individuals with $1 million in investable assets and up are invited to attend The Golden Summer of 2009: Uncovering the Fortune That Lies Hidden in Executive Compensation by registering for any one – or all – of these dates: July 29, August 5 and August 12. All sessions will begin promptly at 12:00 p.m. EST. Fifty openings are available and attendance is on a first come, first served basis.