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Course Level :Basic
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Credits :1
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Instructional Method :Group Internet Based
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Pre-requisites :None
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Advance Preparation :None
At least 1.5 million Americans become widows or
widowers per year. What are the tax consequences when a spouse passes away?
What decisions need to be made?
The death of
one's spouse is typically an extremely difficult emotional trauma. When one
loses a spouse, the last thing on the surviving spouse’s mind is the tax issues
to be addressed. Nonetheless, the passing of one’s spouse will likely lead to
certain federal income tax tasks and responsibilities. Among other things,
you'll need to learn the proper procedure for filing and signing your spouse's
final income tax return, and you'll need to review the applicable filing status
rules.
When one of the
two spouses dies, there is generally a decrease in income, but it’s typically
somewhat modest as a percentage of the household’s overall income — especially
for retired couples who have managed to accumulate significant assets. What
generally happens is that the smaller of the two Social Security benefits
disappear when one spouse dies, but the portfolio income is largely unchanged.
And beginning in the year after the death, the surviving spouse will only have
half the standard deduction that the couple used to have. In addition, there
will only be half as much room in each tax bracket, and many various
deductions/credits will have phaseout ranges that apply at a lower level of
income.
In other words,
there’s half the standard deduction and half as much room in each tax bracket,
but the surviving spouse is left with more than half as much income. The
result: their marginal tax rate generally increases relative to the period of
retirement during which both spouses were alive.
This CE/CPE tax webinar will help you with tax planning after the
death of a spouse.
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.
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.
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.
Owner, Pon & Associates
Lawrence Pon is a Certified Public Accountant, Personal Financial Specialist, Certified Financial Planner, Enrolled Agent, United States Tax Court Practitioner, and Accredited Estate Planner in Redwood Shores, CA
Mr. Pon has been in tax practice since 1986 and speaks regularly to tax professionals and financial advisors on the latest tax planning and preparation topics.
Mr. Pon enjoys helping his clients reach their financial goals through comprehensive tax planning and financial planning.
Mr. Pon received his BS in Business Administration (Accounting & Finance) from UC Berkeley and MS in Taxation from Golden Gate University in San Francisco.
We believe in the value of relationships. We view every client relationship like a partnership, and truly believe that our success is a result of your success. We are committed to providing close, personal attention to our clients. We take pride in giving you the assurance that the personal assistance you receive comes from years of advanced training, technical experience and financial acumen.
We provide a variety of services including:
Our continual investment of time and resources in professional continuing education, state-of-the-art computer technology and extensive business relationships is indicative of our commitment to excellence.
22 Ratings
JH
May 5th, 2022
One of my favorite instructors
RD
May 5th, 2022
accurate, simple, great
AE
May 5th, 2022
Mr. Pon wasn't the greatest speaker, but he knew the information well and provided useful content.
1 Credit
Subject Area
May 19, 2022 | 09:00 AM EDT
May 19, 2022 | 09:00 AM EDT
May 19, 2022 | 10:00 AM EDT
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