Limited Period Access to myCPE Prime Unlimited CPE Access starting at $199. Subscribe Now

Generation-Skipping Transfer Tax Basics and Reporting

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • MRTP
  • ERPA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

The generation-skipping transfer tax is a federal tax that results when there is a transfer of property by gift or inheritance to a beneficiary who is at least 37½ years younger than the donor.

For practitioners who deal with trusts and estates, the federal generation-skipping transfer tax, and its consequences can be very difficult to fully understand.  When many professionals deal with a wealth plan, it is easy to misplace or incorrectly prepare the tax returns and records which are needed to determine the GST tax status of a gift, inheritance, or trust.  

In this online CPE Tax webinar following major topics are covered:

  • What is the purpose of the generation-skipping transfer (GST) tax 
  • When does the GST tax apply, and how is it calculated 
  • How is the GST tax exemption applied, and when must its application be delayed 
  • What types of transfers are exempt from the GST tax 
  • How do you determine whether a trust is exempt or not exempt from the GST tax
  • How do you report the GST tax and the use of the GST tax exemption? 

Learning Objectives

  • To identify transfers subject to the GST tax. 
  • To review the tax forms required for reporting the GST tax and use of the GST tax exemption.
  • To discuss the forms and types of trusts and transfers which may be exempt or not exempt from the GST tax.  

Recommended For

  • The Online Continuing Education Webinar is recommended for CPAs, Enrolled Agents, Tax Firms, Tax Practitioners, and other Tax Professionals interested in learning Generation-Skipping Transfer Tax Basics and Reporting.

Who Should Attend?

  • California Registered Tax Professional
  • Certified Senior Advisor
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Finanical Analyst
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Private Wealth Advisor
  • Tax Attorney
  • Tax Firm
  • Tax Practitioners
  • Tax Professionals
  • Trust & Estate Tax Professional
  • Wealth Management Advisor
  • Wealth Planner
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0828)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 PL Credit of Taxes for Chartered Financial Analyst (CFA)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00891-22-O)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00891-22-O)
  • 1 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00891-22-O)
  • 1 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-00993-22-O)
  • 1 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 1 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 1 PL Credit of Taxes for Certificate In Investment Performance Measurement (CIPM)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

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 maintenance 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.

NASBA APPROVED

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 through its website: www.NASBARegistry.org.

CTEC APPROVED

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

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Griffin Bridgers

Senior Attorney, Hutchins & Associates

Griffin Bridgers, JD., LL.M., is a partner with the law firm of Hutchins & Associates LLC in Denver, Colorado.  Griffin specializes in estate and income tax planning for high net worth individuals.  Griffin is also a frequent speaker and educator, both online and in person, and he provides tax and estate planning updates through digital media through his YouTube channel and on an individual basis for clients and wealth professionals.  Griffin also uses his advanced tax and estate planning knowledge on an individual, non-attorney basis to serve as a market expert on the delivery of planning services, and he advises wealth advisors and CPAs on the use of planning strategists and bespoke digital media to grow their client base.  

About Company

Hutchins & Associates

hutchinslaw.com

Hutchins & Associates LLC specializes in estate planning and related legal services. Founded in 1974, it has dedicated itself to forging lasting relationships with generations of clients. The firm has represented a wide variety of clients including farmers and ranchers, renowned authors, Fortune 500 executives, business owners, celebrities, professional athletes (including a player named as one of the top ten football players of all time, two players in the Pro Football Hall of Fame and two players selected to the college football All-Time All-American Team), coaches and members of the judiciary.

The firm focuses on wealth transfer planning, complex estate, gift, and generation-skipping tax planning, estate and trust administration, probate litigation, income tax planning, administration of conservatorships and guardianships, formation of business entities, and the organization and administration of nonprofit organizations and private foundations.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.6

29 Ratings

Excellent

18

Very Good

10

Average

1

Poor

0

Terrible

0

JG

John Groth, CPA (US)

Feb 2nd, 2022

Instructor and materials were very clear, which helped with a somewhat difficult subject. Instructor had mastery over subject matter.

MS

Margaret Slenn, CPA (US)

May 25th, 2022

This was my first webinar with instructor Griffin Bridgers. I will definitely look for his name in the future. He was excellent.

JS

John Sparling, CPA (US)

Apr 25th, 2022

I wish there was more time for the subject. The presenter did an excellent job. I enjoyed his presentation.

JS

John Shenk, CPA (US)

May 25th, 2022

An area I'm not as familiar with

Generation-Skipping Transfer Tax Basics and Reporting

PREMIUM

1 Credit

Subject Area

Taxes

Upcoming Webinars

Everything You Need to Know About Partnerships
  • 4.5
  • (110)

Sep 26, 2022 | 09:00 AM EDT

QuickBooks: Year-end Procedures
  • 4.4
  • (257)

Sep 26, 2022 | 10:00 AM EDT

Understanding Tax Frauds
  • 3.9
  • (18)

Sep 26, 2022 | 10:00 AM EDT

Excel Accountant: Database Techniques
  • 4.5
  • (27)

Sep 26, 2022 | 10:00 AM EDT

Address Performance and Behavior Issues: Part 2
  • 4.8
  • (12)

Sep 26, 2022 | 10:00 AM EDT

The New Lease Standard: Implementation Issues
  • 4.3
  • (13)

Sep 26, 2022 | 10:00 AM EDT

We use cookies to make your experience on this website better