DATE: August 30, 2022
CREDITS EARNED: 2 hours Tax Law
TIME: 9 am - 11 am PST
If you're not on Pacific Standard Time, please join during your time zone below.
10 am - 12 pm MST | 11 am - 1 pm CST | 12 pm - 2 pm EST
Every tax preparer and accountant somewhere along the lines has been in a situation where a client or the family member of a client passes away, and the family asks their trusted tax advisor what they should do. Maybe this isn’t your comfort zone if you haven’t had to deal with this question very often, but do you know what needs done, and how you need to advise your client? How do you determine what return(s) need filed? What about an Estate Income tax return or Estate tax return? What about additional state estate tax considerations (or inheritance taxes?) One old saying we have all heard – Nothing is in life is certain except Death and Taxes… but they do not cancel each other out unfortunately. If you have wanted to know more about how to advise your clients about taxes when also dealing with a loss and know the answers to the questions above, this course is definitely for you!
1) Understand who a Personal Representative is as it relates to tax matters for a decedent, and how they could be liable for taxes for the decedent or estate
2) Learn how to determine which return(s) will need filed for a decedent
3) Discover what to do about unfiled returns or taxes owing for a decedent or insolvent estates
4) Understand how Annual Gift Tax Exclusion amounts and taxable gifts relate to an estate and the Gross Estate Value
5) Learn what the Lifetime Estate Tax Exclusion amounts are and how they relate to Estate Tax Return filing requirements
6) Understand how State Estate rules or inheritance tax rules can impact your taxpayer(s)