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Gain Realization at Death and At Gift - Tax on Wealthy Estates

4.5 (29)

Robert Keebler, CPA (US), CGMA, CPA/PFS, AEP

Keebler & Associates LLP

Monday, May 17, 2021 | 02:00 PM EDT

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CPA/PFS
  • TEP
  • CTEC
  • CSA

1 Credit

$10

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00498-21-O)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0498)

1 CE credit of Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ )

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

0.5 CE credit for Certified Senior Advisor (CSA)

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00498-21-O)

1 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00498-21-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Aug 02, 2021 | 03:30 PM EDT Register

Course Description

Senator Christopher Van Hollen along with Representative Bill Pascrell have both introduced bills to repeal the step-up in basis and create a gain realization at death and at gift seemingly similar to the system in Canada.

In this fast-paced class, Bob Keebler will address the legislative framework of the Pascrell and Van Hollen bills, including retroactive gain realization on 2021 gifts.

The webinar will explore on the following questions:

  • How will gains be recognized at death?
  • Will the 39.6% LTCG rate apply?
  • What planning will mitigate the 39.6% rate?
  • What will be the exemptions and exceptions?
  • What gains will be realized upon gift?
  • What will be the exemptions and exceptions for gifts made during life?
  • What will be the exemptions and exceptions for gifts made after death?
  • Can gifts be made to grantor trusts in 2021 without gain realization?
  • Can gifts be made to non-grantor trusts in 2021 without gain realization?
  • How will the Van Hollen and the Pascrell bills interact with the anti-grantor trust provisions of the Sanders legislation?
  • What are the 21 and 30-year gain realization rules for trusts?
  • Can gifts be made to charitable trusts?
  • Can gifts be made to charity?
  • What should practitioners do with respect to warning clients making large gifts in 2021?

This is a “must-attend” for CPAs, EAs and accountants having clients with appreciated assets in their portfolios.


Learning Objectives

  • To examine and develop and understanding of will gains be recognized at death
  • To identify the exemptions and exceptions for gifts made during life and after death.
  • What gains will be realized upon gift?
  • To recognize if the gifts can be made to grantor or non-grantor trust without gain realization in 2021
  • To explore how the Van Hollen and the Pascrell bills can interact with the anti-grantor trust provisions of the Sanders legislation

Who Should Attend?

  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Managers
  • Tax Preparer
  • Tax Professionals
  • Young CPA

Testimonial

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(
    [no_of_record] => 29
    [average] => 4.4828
)
 

4.5

(29)
59%
34%
3%
3%
0%

JC

Great

RF

It was fascinating learning how to minimize taxes on wealthy estates.

PD

I would have preferred more examples.