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Gain Realization At Death And At Gift - Tax On Wealthy Estates

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • Maryland Tax Prep.
  • ERPA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CFIRS
  • CWS

Published: November, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • The American Families Plan - Specific Proposals in the Fact sheet
    1 mins
  • Introduced Legislation
    3 mins
  • Capital Gains Taxes
    12 mins
  • Exceptions to Forced Recognition
    19 mins
  • Extension of Time for Payment of Tax
    29 mins
  • Charitable Remainder Trusts - Common Structure
    35 mins
  • Charitable Remainder Trusts - Substantial Sale Strategy
    42 mins
  • Two-year Installment Sale
    48 mins
  • Installment Sale - Intra-family Sale Strategy
    50 mins

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.
  • To explore 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
  • Certified Senior Advisor
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Tax Accountant (Industry)
  • Tax Managers
  • Tax Preparer
  • Tax Professionals
  • Trust & Estate Specialist
  • Trust & Estate Tax Professional
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-00524-21-S)
  • 1 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-U-00498-21-S)
  • 1 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 1 CE Credit for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0498)
  • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 1 CPE Credit for Financial Services Certified Professional (FSCP)
  • 1 CPD Credit for Personal Financial Specialist (PFS)
  • 1 CPE Credit for Retirement Income Certified Professional (RICP)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 1 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00498-21-S)
  • 1 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00498-21-S)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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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

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

Partner, Keebler & Associates LLP

Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP and the current chairman of the AICPA Advanced Estate Planning Conference. In 2007 he was inducted into the Estate Planning Hall of Fame of National Association of Estate Planners & Councils. He has also been named by CPA Magazine as one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. Mr. Keebler frequently represents clients before the National Office of the Internal Revenue Service (IRS) in the private letter ruling process and in estate, gift and income tax examinations and appeals, and he has received more than 200 favorable private letter rulings including several key rulings of “first impression”. He is the author of over 100 articles and columns and is the editor, author or co-author of many books and treatises on wealth transfer and taxation. Mr. Keebler has been a speaker at national estate planning and tax seminars for over 20 years including the AICPA’s: Estate Planning, High Income, Advanced Financial Planning Conferences, ABA Conferences, NAPEC Conferences, The Notre Dame Estate Planning Conference and the Heckerling Estate Planning Institute.


About Company

Keebler & Associates LLP

www.keeblerandassociates.com

At Keebler & Associates, we are nationally recognized tax professionals in family wealth transfer, estates and retirement distribution planning. We provide tax and estate planning to high net worth individuals and families and educate financial, tax and estate professionals on cutting edge tax strategies.

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