Estate and Gift Taxation and Preparing Form 706 and 709 (Full-Day Course) (Completed)

Date: Tuesday, August 29, 2017
Instructor: Steven G. Siegel
Begin Time:  7:00am Pacific Time
8:00am Mountain Time
9:00am Central Time
10:00am Eastern Time
CPE Credit:  8 hours for CPAs
8 hours Federal Tax Related for EAs and OTRPs
8 hours Federal Tax Law for CTEC
8 hours Estate Planning for CFP

Get Expert Tips and Tactics for Preparing Estate and Gift Tax Returns

Form 709, Federal Gift Tax return and Form 706, Federal Estate Tax return, are key parts of any practice involving estate planning and wealth management. There have been many recent tax law changes that impact these two returns and practitioners who’ve not prepared one of these returns in recent years must understand the latest changes to file these forms accurately. Form 706 runs more than 25 pages and has more than 15 schedules and the recent implementation for portability has offered some simplification but has, at the same time, created new layers of complexity in approaching both gift and estate planning considerations.

Many taxpayers made gifts in recent years to transfer substantial assets at little to no federal gift tax cost to take advantage of the significant federal gift tax exclusion. Proper compliance with the complex gift tax rules remains necessary to protect and preserve the advantage of the current exclusion levels. In this convenient and timely full-day CPE webinar (8 hours CPE credit), noted estates and trusts practitioner, author and educator, Steven G. Siegel, J.D., LL.M., will first walk participants through the Form 709 and how gifting strategies can work as part of your clients’ estate plans.

In the second half of this program, Mr. Siegel will provide an overview of the basic concepts and issues of estate taxation, the impact of new developments on estate taxes and filing estate tax returns, including portability — and then discuss what must be done to accurately complete the Form 706.

You won't want to miss this program with Mr. Siegel, an outstanding speaker and presenter, and his practical tips and suggestions on preparing for preparing these two returns. Your seminar materials will include a detailed reference outline and sample problems and filled-in forms prepared by Mr. Siegel.

All tax preparers, accountants, attorneys and financial planners who advise clients on tax and estate planning and other wealth management matters will benefit from this insightful seminar. Participate in this program from the convenience of your office with nothing more than your computer and broadband Internet access.

Ask the Expert. To reinforce your understanding and get help on your most pressing issues, you will have opportunities to submit questions directly to Mr. Siegel during the program.

As our "thank you for attending" gift, firms registered for this webinar will receive a complimentary issue of Wolters Kluwer's Estate Planning Review--The Journal in electronic format.

This course is excluded from the following subscription programs:
Value Pass, Self-Study Package, Webinar Package, Self-Study & Webinar Package, and Firm Package.

Who Should Attend
This course is essential for CPAs, CFPs, enrolled agents, estate planners, tax attorneys and other professionals who advise clients on tax, retirement and estate planning, and other wealth management matters.

Topics Covered

  • Transfers Subject to the Gift Tax
  • Transfers That Are Not Subject to the Gift Tax
  • Exclusions from the Gift Tax
  • Gift-Splitting by Spouses
  • Available Gift Tax Deductions
  • Understanding How Portability Works and the New DSUE Calculation
  • Valuation of Gifts
  • Avoiding Gift Treatment by Using Disclaimers
  • Statutes of Limitations and the Adequate Disclosure Rules
  • Preparing Form 709
  • Is a Federal Estate Tax Return Required?
  • Understanding How Portability Works and the New DSUE Calculation
  • Addressing the "Simplified" Form 706
  • Due Dates and Extensions - Forms to File
  • Preparing Form 706 Asset Schedules A through I
  • Use of the Alternate Valuation Date
  • Preparing Form 706 Deduction Schedules J through U
  • Preparing Form 706 Schedules R and R-1: Generation-Skipping Transfer Tax
  • Completing the Return
  • Installment Payment of Tax Election: Section 6166

Learning Objectives

  • Gain a practical, updated understanding of the federal gift tax
  • Understand the parts and schedules that make up the Form 709
  • Determine which lifetime transfers are subject to gift tax
  • Know how to figure gift tax liability
  • Gain a practical understanding of the federal estate tax
  • Describe the practical implications of key estate tax changes and the impact on filing estate tax returns
  • Understand the parts and schedules that make up the Form 706
  • Know how to figure estate tax liability

Level
Intermediate

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (8 hours)

Program Prerequisites
Basic knowledge of federal income taxation and wealth transfer rules.

Advance Preparation
None

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