Tax Planning for Families

Course Description:

While the nuclear family remains the center point of society, today it is under tremendous economic and social pressure. This course is designed to cover “hot” 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.

Learning Objectives:

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

• Explain how filing status affects taxpayers’ filing requirements, standard deductions, and correct tax.
• Know six severe divorce tax implications and clarifying the requirements and effect of filing a joint as married or unmarried.
• Determine the number of exemptions a client has and describe the impact.
• Analyzing the former regular and special method for determining support showing complications from back child support and multiple support agreements.
• Differentiate deductible and nondeductible divorce expenditures.
• Identify the special rules that apply to community property states.
• Understand requirements of Supplemental Security Income from Social Security disability benefits.