Making the Best of Bad Situations: Part 4 (AMT, Adoption, College) (Currently Unavailable)

Author: Arthur Joseph Werner

This course helps the practitioner understand planning considerations and potential problems when certain "bad situations" happen to his/her client. The focus of this course is on the tax and non-tax issues of various circumstances that a client classifies as bad situations pertaining to AMT, Adoption, and College.

Publication Date: October 2016

Designed For
CPAs, EAs, attorneys, and financial planners.

Topics Covered

• AMT Strategies
• Kiddie Tax
• Adoption Expense Credit
• Financial Planning Issues
• Estate Planning Issues
• Losing Your Job

Learning Objectives

• Recognize the tax and non-tax issues of various circumstances that a client classifies as bad situations pertaining to AMT, Adoption, and College
• Identify examples of how a tax professional can integrate income tax planning with one or more of the three general planning areas
• Recognize strategies that can be used to mitigate the AMT
• Describe a strategy for parents to reduce the tax impact of the Kiddie Tax
• Differentiate how taxpayers can use timing to maximize a credit subject to phase-out rules
• Recognize strategies that do not have the risk of disturbing the taxpayer's other financial planning goals
• Differentiate between a springing power of attorney and a general power of attorney
• Identify what allows tax professionals to help clients with bad situations
• Recognize and apply the rules of AMT
• Identify how the Kiddie Tax is applicable in various situations
• Describe that advantages to tax credits
• Differentiate problems with not saving for college
• Identify how student loans are applied
• Describe a living trust
• Recognize positive outcomes that occur when a client loses their job

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None