myCPE
myCPE

Divorce and its Various Tax Implications 1 Credit

Dec 18, 2024, 10:00 AM ET

Divorce and its Various Tax Implications 1 Credit

  • Rating

    4.7
  • Published on

    April, 2024
  • Subject Area

    Taxes

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Dec 18, 2024, 10:00 AM ET

Learning Objective

  • To analyze appropriate filing statuses for clients undergoing divorce proceedings.
  • To explain the tax implications of name changes and updating personal information post-divorce.
  • To analyze the division of assets and property settlements concerning tax liabilities.
  • To discuss the tax consequences of alimony payments and child support agreements.
  • To navigate dependency exemptions and tax credits for divorced individuals with children.
  • To inspect and interpret retirement plan implications, including QDROs and IRAs, in divorce settlements.

Course Overview

Embarking on the tumultuous journey of divorce inevitably brings forth a plethora of emotional and logistical challenges. Amidst this upheaval, the role of tax professionals becomes increasingly crucial in guiding clients through the intricate maze of tax implications. Our comprehensive course delves deep into the complexities of taxation amidst divorce proceedings, equipping professionals with the knowledge and expertise necessary to navigate this sensitive terrain with finesse.

Throughout this CE Tax webinar, participants will gain invaluable insights into a myriad of tax-related considerations stemming from divorce. From deciphering the optimal filing status to navigating the intricacies of property settlements, alimony, and child support, every aspect of taxation amid divorce is meticulously explored. Through real-life case studies and examples, participants will glean practical strategies for addressing the unique tax challenges faced by divorcing clients.

With a focus on practical application, this course empowers tax professionals to confidently assist clients in tax planning tailored to their specific circumstances. Participants will learn to identify and manage potential conflicts of interest ethically, while also mastering the art of reviewing and interpreting essential financial records accurately. Moreover, crucial topics such as updating documentation post-divorce and understanding the nuances of dependent credits will be thoroughly elucidated.

Major topics:

  • Filing status considerations during divorce
  • Name changes and updates to tax documentation
  • Division of assets and property settlements
  • Alimony and child support tax implications
  • Dependency exemptions and tax credits
  • Retirement plan implications, including Qualified Domestic Relations Orders (QDROs) and Individual Retirement Accounts (IRAs)

Join AJ Reynolds on this enlightening journey to mastery in divorce-related taxation and elevate your practice to new heights of proficiency and client satisfaction.

Looking to fulfill your Enrolled Agent (EA) Continuing Education (CE) requirements? MY-CPE online Enrolled Agent CE courses are the best for you. Earn EA CE Credits while enhancing your domain knowledge and expertise in diverse tax regulations and practices. Our courses are designed to provide you with the latest updates and deep insights to keep you ahead in your field. With flexible scheduling and a user-friendly platform, MY-CPE offers you a greater convenient and interactive learning experience. Join MY-CPE today and take the next step in advancing your career as an Enrolled Agent. 

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Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Allan J. Reynolds
AJ Reynolds

President, ABC Bookkeeping & Tax Service, Inc.

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A.J. Reynolds, EA has over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. focuses a portion of his practice to IRS Representations. As diverse as his specializations, A.J.’s clientele, too, ranges from average workers to Fortune 500 executives. Additionally, A.J volunteers his time with the Iowa Legal Aid’s Managing Attorney assisting in Tax Court cases and assorted income tax issues.

A.J. brings his everyday “in the trenches” experience to seminars and webinars for multiple organizations to assist attendees with real issues affecting tax professionals. 

A.J. started his tax career with a national CPA firm in San Diego, CA after proudly serving for five years in the United States Navy onboard the Guided Missile Destroyer USS Callaghan. While onboard the destroyer, the ship executed many missions in the Straits of Hormuz off the coast of Iran.

Outside of his tax practice, A.J. is a member of the Diocese of Sioux City Priests’ Pension & Welfare Board and the Investment Advisory Board for the Diocese. When not working, his time is spent in various activities, including traveling with his wife and their two children.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

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Owen Mccafferty
Owen Mccafferty, CPA (US)

The nuances of serving client(s) in a divorce were much appreciated. The presentation is heavily focused on Forms to be used but balances the mechanical side with the sensitivity of the issue. The Ethical considerations and the conflicts of interest discussion were greatly appreciated and offer quite a bit of food for thought. The speaker was very energetic and enthusiastic about this topic area. Obviously, he has quite a bit of experience. Veronica did a great job hosting the presentation. Live commentary is appreciated. Sorry, Sean.

LM

Lisa Mcnally, CDFA

Great course! Very informative, interesting and applicable to my divorce business. Lots of great content in this course that left me wanting to know more about the topics touched on.

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