Divorce and its Various Tax Implications FLEXCAST

Overview

What happens when your clients divorce? Divorce is an emotional occurrence for all involved. What is the significance of the tax professional assisting clients through this difficult time? This course will explain the importance of working with and advising our clients on divorce and its various tax implications. We will discuss filing status, name change, joint & separate responsibility & liability. We will explore dependents and associated tax credits. Analyze retirement plans, alimony, child support, property settlements, allocating estimated payments, NOLs, and Capital Loss carryovers.

Highlights

Tax Cuts & Jobs Act. Filing Status. Innocent Spouse Issues.

Prerequisites

None.

Designed For

CPAs and other tax professionals.

Objectives

Assist with tax planning. Identify Conflict of Interest issues. Review requests for records. Select correct filing status. Inform clients on Name, Address, and W-4 Changes. Quantify Exemptions. Relate critical issues encompassing Form 8332. Examine Credits associated with dependents. Summarize QDRO and IRA’s. Distinguish Capital Losses, NOL’s Donations, and other credits and deductions.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.