Source: https://webcpe.net/CPE-courses/92522/tax-cpe-92522.php?UserID=
Timestamp: 2018-12-10 07:45:37
Document Index: 556535707

Matched Legal Cases: ['§303', '§2701', '§2701', '§2702', '§2702', '§2703', '§2704', '§2704']

Course No: 92522
Course Name: Guide to Estate and Gift Taxation - Part II
Course Description: This is Part II of a two part course. The 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.
Recognize basic tax and legal title formats noting the advantages and disadvantages of holding property in a sole proprietorship, a corporation, or an S corporation .
Identify the tax treatment of life insurance proceeds.
Recognize the differences between deferred annuities and private annuities and determine what constitutes an entity purchase agreement and a cross purchase agreement noting tax and legal advantages.
Determine how tangible assets are normally valued identifying those assets whose valuation is based on values other than book value, and specify the steps in R.R. 68-609’s valuation formula for intangible assets noting the effect such amount can have on the total value of a business.
Identify special business valuation issues including redemptions under §303.
Determine the tax consequences in leaving an estate to a surviving spouse, specify the elements of buy sell agreements, stock redemptions, and stock recapitalizations in order to dispose of business interests before death, and identify deferred compensation agreements noting their estate planning impact.
Identify the “zero value” rule under §2701.
Determine the application of §2701 provisions.
Recall the terms used in §2702 concerning transfers of interests in trust, identify the application of the zero value rule to a transfer of interest in trust, and specify exceptions to §2702, determine the transfer of an interest in property when there is one or more term interests as a transfer of an interest in a trust, and specify the treatment of joint purchases.
Recognize the requirements and exceptions of §2703 to insure property is valued appropriately, identify lapses as a transfer by gift or as includible in the decedent’s gross estate under §2704, recall the key terminology of §2704 under the evaluation rules, specify the amount of the transfer noting which lapses or restrictions qualify as an applicable restriction.
Recall estate management techniques for the elderly and disabled.
Cite the eldercare benefits of Medicare, Medicaid, and Supplemental Security Income, identify disadvantages of the Medicaid program noting how to determine income into asset groups, specify the dangers and benefits of gifting to family members, including how individuals might use private insurance on catastrophic illness.
Identify tools that can allow patients to refuse treatment even when incompetent, determine Supplemental Security Income noting how it relates to elderly and disability planning, and specify the requirements that must be met in order to receive disability benefits.
Identify the filing requirements for estate income tax and decedent’s final income tax returns