Complete Guide to Estate and Gift Taxation

Course Description:

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.

Learning Objectives:

Upon successful completion of this course, participants will be able to:

• Contrast short-term financial goals with the four generic investment purposes explaining the planning purpose of this distinction.
• Point out to clients how investing allocation changes with age.
• Evaluate the tax consequences of title holding methods.
• Criticize the postponement of retirement planning stressing the importance of early planning using the author’s suggested five step process.
• Determine the totality of income be included on the decedent’s final income tax return using any available exemptions or deductions.
• Avoid penalties by timely filing a gift tax return, use gift splitting to reduce gift taxes.