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