Beyond the Numbers: Understanding the Important Gift, Estate, and Income Tax Elections

4.6 (16)

Robert Keebler, CPA

Keebler & Associates LLP

Monday, March 15, 2021 | 09:30 AM EST

  • AFSP
  • CPA
  • EA
  • Tax Pros
  • PFS
  • TEP
  • CTEC

2 CPE | 2 CE

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CPD credit (Verifiable) for Trust and Estate Practitioners (TEPs)

2 CPD credit (Verifiable) of Estate Planning for PFSs

2 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

2 CE credit of Federal Tax for Maryland Tax Preparers

2 CE credit of Federal Tax for Oregon Tax Preparers

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

How often do you prepare a trust return and see the trust's marginal tax rate is too high? Form 709, Federal Gift Tax return and Form 706, Federal Estate Tax return, are key parts of any practice involving estate planning and wealth management. There have been many recent tax law changes that impact these two returns and practitioners who’ve not prepared one of these returns in recent years must understand the latest changes to file these forms accurately.

Many taxpayers made gifts in recent years to transfer substantial assets at little to no federal gift tax cost to take advantage of the significant federal gift tax exclusion. Proper compliance with the complex gift tax rules remains necessary to protect and preserve the advantage of the current exclusion levels. In this fast-paced webinar Robert will discuss important elections associated with Form 709, 706, and 1041. The focus of this course will be reviewing returns and identifying key issues.

Highlights of the webinar : 

  • Gift splitting elections
  • Reverse QTIP elections
  • Electing out of automatic GST allocations
  • Valuation issues
  • 5-year 529 plan elections
  • Section 2642(c) charitable issues
  • Section 691(c) issues
  • Section 2013 PPT Credits
  • Adequate disclosure rules
  • Statute of limitations issues
  • Section 2032A and alternative valuation date
  • 754 partnership elections
  • Understanding DNI
  • Planning for Kenan gains

Learning Objectives

  • To recall the practical and updated understanding of the federal gift tax.
  • To identify the parts and schedules that make up the Form 709.
  • To identify which lifetime transfers are subject to gift tax
  • To recall the practical understanding of the federal estate tax

Who Should Attend?

  • Enrolled Agent
  • Tax Practitioners
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Pros
  • CPA (Industry)
  • Tax Firm
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Tax Director (Industry)
  • Tax Managers
  • Tax Preparer

Testimonial

4.6

(16)
69%
25%
6%
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