Complete Guide to Estate and Gift Taxation ON DEMAND

Overview

This presentation integrates federal taxation with overall financial planning. The course will explore tax strategies relating to the central financial tactics of wealth building, capital preservation, and estate distribution. The result is a unified explanation of tax-economics that will permit the tax professional to locate, analyze, and solve financial concerns. Designed to improve the quality of services to clients and the profitability of engagements, this program projects the accountant into the world of financial planning. This course will give the participant practice in analyzing problems, developing solutions, and presenting final personal financial plans to clients. The course surveys wills, living trusts, gifts, marital property, and probate avoidance. Will and trust forms are explored along with living wills, durable powers of attorney, and nominations of conservator. Designed to eliminate estate problems and death taxes, the emphasis is on practical solutions that are cost effective. Note: There is a minimum passing rate of 70% for this course.

Highlights

Financial tax planning. Building an estate. Preservation of wealth. Deferral. Reduction. Income splitting. Elimination. Asset protection. Estate planning. Estate and gift taxes. Wills and probate. Trusts. Entity and title. Life insurance, Annuities and buy-sell agreements. Special business issues. Estate tax freeze rules. Elderly and disabled planning. Post-mortem planning and tax return requirements.

Prerequisites

None.

Designed For

This program is appropriate for professionals at all organizational levels.

Objectives

Match short-term financial goals with the four generic investment purposes stating the planning purpose of this process, recognize the importance of defining, listing and prioritizing realistic goals, and show how investing allocation changes with age. Name three goals of money management listing four types of income, identify three causes of increased taxable income for itemizing taxpayers, and state at least eight types of taxable income and their proper reporting. Name two benefits of tax deferral, outline the former use of tax deferral under Section 1034, and state the tax deferral advantage under Section 1031 listing its three elements. Identify how to value fringe benefits according to IRS regulations, show how to comply with ERISA requirements, state the proper reporting of reimbursed and unreimbursed business expenses under accountable and nonaccountable plans, define substantiation of auto expenses using a fixed and variable rate, and list eligible retirement benefits exempt from social security taxes, and much more!