Family Tax Planning ON DEMAND

Overview

While the nuclear family remains the center point of society, today it is under tremendous economic and social pressure. This mini-course is designed to cover “hot” family tax planning topics having a direct impact on the practitioner who represents any client with family issues. The emphasis is on using tax solutions to ease family economic concerns permitting the practitioner to be a real tax hero.

Highlights

Family tax planning. Divorce costs. Dependent care assistance. Qualified tuition programs. Home sales. Alimony. Property rights.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents, and attorneys.

Objectives

Recognize the effect of marital status on filing status, identify the advisability of filing a joint return in light of the innocent spouse rules, specify available exemptions, and determine the differences between deductible and nondeductible divorce costs. Identify the costs and fees that qualify for the tax credit for adoption expenses and for education credits, such as the HOPE credit, and cite the requirements for dependent care assistance and the contribution limits for Coverdell ESAs. Determine medical cost deductions available to individuals under Section 213, specify items qualifying as deductible Section 163 home mortgage interest, and recognize the taxation of Section 1041 interspousal transfers particularly as to property settlements.

Preparation

None.

Notice

None.