How To Accurately Prepare the 709 Gift Tax Return

4.4 (26)

Robert Keebler, CPA

Keebler & Associates LLP

Monday, February 15, 2021 | 12:30 PM 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 Personal Financial Planning Process for PFSs

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

2 CE credit of Federal Tax for Oregon Tax Preparers

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

2 CE credit of Estate or Investment Planning for Maryland Tax Preparers

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

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Mar 12, 2021 | 12:30 PM EST Register

Course Description

Preparing gift tax returns (Form 709) seems relatively simple. However, there are lots of traps for the unwary. Moreover, unlike income tax returns, mistakes are not quickly beyond audit and are often uncovered when the client dies – providing years.

Many taxpayers made gifts in the last year 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. Nevertheless, some of your most wealthy clients will have a taxable estate. For these select clients, making large gifts before death can be extremely tax efficient for the client and profitable for the practitioner filing the gift tax return.

This convenient and timely two-hour online CPE seminar addresses the proper preparation of Form 709, the U.S. Federal Gift Tax Return that needs to be filed. Specifically, the following will be covered by this course :

  • Filing obligations
  • Annual exclusion gifting and Crummy Letters
  • Using a deceased spouse’s portable exemption amount (“DSUEA”)
  • Reporting Installment Sales, Loans, Private Annuities, GRATs, QPRTs, and CRTs
  • Reporting front-loaded 529 plans

Learning Objectives

  • To recognize the annual gift tax exclusion
  • Introduction to the proper preparation of Form 709
  • To identify the differing types of gifts, the limits, and information required on Form 709
  • To Identify how to figure gift tax liability
  • To identify what is allowed for a qualified disclaimer

Who Should Attend?

  • Enrolled Agent
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • CPA (Industry)
  • Young CPA
  • CPA in Business
  • Entrepreneurial CPA
  • Accounting Practice Owners
  • Accounts Director
  • Entrepreneurial Accountant
  • Accounting Managers

Testimonial

4.4

(26)
65%
23%
4%
4%
4%

PJ

He magically made an impossible possible somehow - to have made full-one day worth information in 2-hour package. Wow. Need to come back to this video again to get the information sink in. Thank you!!

AL

Robert was extremely knowledgeable and personable in presenting this course. I enjoyed the tips from experience and recommendations for other courses for a more in-depth look at some parts of the material.

EL

Mr. Keebler's presentation was very thorough and at the same time not overwhelming. Definitely worth the money!

ED

ENJOYED IT

JT

Terrific Seminar!

DN

Well done