2016 Estate & Financial Planning Update (Currently Unavailable)

Author: Arthur Joseph Werner

Over the past few years, Congress made sweeping changes to the Internal Revenue Code regarding Income, Estate, and Gift taxation. Understanding the impact of the new legislation together with recent case law developments and technique developments is important to all practitioners in properly advising their clients.

Publication Date: May 2016

Designed For
CPAs, EAs, attorneys, financial planners, insurance agents, and bankers.

Topics Covered

• 2016 issues in estate and gift taxation related planning issues
• 2016 issues in income taxation related planning issues
• A total understanding of new legislation
• Portability issues
• Issues involving the non-traditional client
• Obamacare tax issues
• Planning considerations

Learning Objectives

• Recognize changes in various estate and financial planning techniques for 2015 and beyond
• Describe the estate and gift tax rates history
• Identify the total exclusion amount available in various estate situations
• Recognize the maximum allowed gift amounts when gifting the maximum allowed without having to utilize lifetime exclusion
• Describe the Medicare tax on high income
• Identify the option for paying additional Medicare taxes
• Recognize the types of income helping to reduce Ned Investment Income
• Differentiate the 2016 gift and estate tax rates
• Identify the deceased spouse's unused exclusion (DSUE) by making a postmortem election
• Recognize spousal portability of the unified credit made permanent in the fiscal cliff legislation
• Describe the extension due date of the federal estate tax return
• Identify reasons for electing portability
• Recognize the annual exclusion amount to avoid gifts taxation
• Calculate Medicare tax paid on tax returns
• Identify the withholding rule for employers responsible for withholding Medicare taxes for high income earners

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic knowledge of Federal Income, Estate, and Gift Taxation.

Advance Preparation
None