Family Tax Planning Mini Course ON DEMAND

Overview

Many tax and finance professionals find themselves navigating the complex terrain of family tax planning with limited resources. The evolving nature of family structures and financial obligations often leaves them seeking more clarity and competence in this area. This course bridges that gap. After completion, participants will have transformed their approach to family tax planning. They will be equipped with the knowledge to handle a variety of situations, from understanding the tax implications of different living arrangements to effectively managing educational and medical expenses. The course provides a clear pathway from uncertainty to confidence, empowering professionals to provide comprehensive, empathetic, and effective tax solutions that cater to the diverse needs of families today. Participants will leave with a deep understanding of how to apply their learning in practical, impactful ways, enhancing both their professional growth and their clients’ financial well-being.

Highlights

Basic marital tax matters. Children. Education. Medical, charitable and casualty. Home sales and moving expenses. Home mortgage interest. Transfers incident to divorce. Alimony and child support.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents, and attorneys.

Objectives

Determine how filing status affects taxpayers’ filing requirements, standard deductions, and correct tax. Select the number of pre-2018 exemptions a client could have and state the impact said exemptions had. Determine deductible and nondeductible divorce expenditures, identify which spouse is subject to tax imposed upon withheld wages, and specify the effects of making separate estimated tax payments or joint declarations of estimated tax. Recognize the special rules that apply to community property states and identify whether clients are affected by these rules. Determine the effect of living together on filing statuses and dependency citing differences between the married tax rate and other tax rates, identify the tax consequences of having a living together contract listing tax traps, and specify the results of Marvin v. Marvin.

Preparation

None.

Notice

None.