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.

Highlights

Financial tax planning. Building an estate. Preservation of wealth. Deferral. Reduction. Income splitting. Elimination. Asset protection. Estate planning.

Prerequisites

None.

Designed For

CPAs, EAs, CRTPs, and other accounting and tax professionals

Objectives

Differentiate short-term financial goals and investment purposes. Specifying ways to hold title to assets starting with the simplest and most direct way to hold property and citing the tax benefits and drawbacks of co-tenancies, corporations, partnerships, qualified retirement plans, and trusts. Recognize the importance of early retirement planning using a balance sheet method, identify cost and income needs specifying the purpose of savings. Identify money management specifying income types, recognize causes of increased taxable income for itemizing taxpayers, and specify taxable income types and their proper reporting. Determine the distinctions between tax-free and tax deferred income and identify tax-deferred investments. Specify ways to shelter income stating how income sheltering amplifies investment return. Recognize the budgeting of income into cash by containing expenditures and developing discretionary income and determine how to convert income into assets by purchasing investments. Specify tax-advantaged investments citing management rules and determine the economic impact of accelerating deductions.

Preparation

None.

Notice

None.