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Course Details

Estate Planning with Business Issues - Tax Mini Course (Course Id 125)

Updated / QAS / Registry / EA
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Author : Danny C Santucci, JD
Course Length : Pages: 28 ||| Review Questions: 10 ||| Final Exam Questions: 10
CPE Credits : 2.0
IRS Credits : 2
Price : $17.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents
Technical Designation: Technical
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 125

Description :

In this tax and estate planning CPE course/class, practitioners are brought up-to-date information on tax issues affecting estate planning and business issues. A major emphasis of this mini-course is practical estate planning solutions that are cost-effective. Devised to reduce or eliminate death taxes and estate problems, this comprehensive guide examines wills, trusts, gifts, insurance, private annuities, and other general estate planning tools. The planning issues and problems that arise from owning a business interest are also addressed.

Usage Rank : 18824
Release : 2024
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 08-Mar-2024
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 125

Keywords : Taxes, Estate, Planning, Business, Issues, Tax, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

    At the start of the materials, participants should identify the following topics for study:
      * Unlimited marital deduction
      * Simple will
      * Types of trusts
      * Charitable trusts
      * Family documents
      * Private annuities
      * Business valuation
      * Redemptions
      * Lifetime dispositions
      * Installment payment of federal estate taxes
Learning Objectives:
    After reading the materials, participants will be able to:
      1. Identify the unlimited marital deduction specifying its effect on the gross estate evaluation and the impact of stepped-up basis as they affect survivors and heirs, and recognize the benefits of establishing even a simple will and its control over certain assets.
      2. Specify the primary ways to dispose of assets using trusts and annuities including the importance of family documents to manage assets.
      3. Recognize the starting point used to value a business’s tangible assets, cite the R.R. 59-60 business valuation factors and the steps in R.R. 68-609’s valuation formula for intangible assets and goodwill stating the effect of both rulings on the total value of a business, determine the adjustment caused by minority interests in a closely held business and their impact on final evaluation.
      4. Identify ways to dispose of a business interest before death to family members while avoiding the provisions of the constructive ownership rules.
      5. Recognize deferred compensation agreements as a valuable estate planning tool and identify when to recommend the option of paying federal estate taxes in installments indicating the basis of the election and its eligibility requirements.
Course Contents :

Chapter 1 - Estate Planning with Business Issues


General Estate Planning

Unlimited Marital Deduction

Outright To Spouse

Marital Deduction Trust

Qualified Terminable Interest Property Trust

Applicable Exemption (or Exclusion) Amount

Spousal Portability of Unused Exemption Amount - §2010(c)(2)

Stepped-up Basis

Basic Estate Planning Goals

Primary Dispositive Plans

Simple Will

Danger for Larger Estates


Assets Not Subject to a Will

Assets Subject to a Will


Types of Trusts

Living Trusts

Testamentary Trusts

Revocable & Irrevocable

Living “A-B” Revocable Trust

Living “A-B-C” (QTIP) Trust

Impact of Spousal Portability on Trust B under TUIRJCA

Charitable Trusts

Charitable Remainder Trusts

Charitable Income Trusts

Insurance Trusts

Family Documents

Living Will

Property Agreement & Inventory

Durable Power Of Attorney

Power of Attorney for Health Care


Funeral Arrangements

Anatomical Gifts

Private Annuity

Advantages to the Transferor

Disadvantages to the Transferor

Advantages to the Transferee

Disadvantages to the Transferee

Special Business Issues

Business Valuation

Relevant Facts

Revenue Ruling 59-60

Tangible Assets

Special Real Estate Election - §2032A


Related Party Cash Lease

Intangible Assets & Goodwill

R.R. 68-609

Land Subject To Conservation Easement - §2032A(c)(8)

Family Member

Indirect Ownership of Land

Qualified Conservation Easement

Qualified Real Property Interest

Qualified Organization

Conservation Purpose

No Additional Income Tax Deduction

Valuation Discounts

Minority Interests

Special Valuation plus Minority Discount

Fractional Interests

Lack of Marketability

Swing Vote Premium

Buy-Sell Agreements

Redemptions Under §303


Corporate Accumulation For §303 Redemption

Accumulation in Anticipation of Shareholder’s Death

Death of a Spouse

Bypass Trust

Lifetime Dispositions


Stock Redemptions Under §302

Substantially Disproportionate Redemption - 80/50 Rule

Redemptions Not Essentially Equivalent to a Dividend

Complete Redemptions

Constructive Ownership - §318

Double Attribution

Stock Attribution in Complete Redemptions

Stock Recapitalization

Section 306 Taint

Deferred Compensation Agreements

Installment Payment of Federal Estate Taxes - §6166


Eligibility & Court Supervision

Closely Held Business

Acceleration of Payment



Estate Tax CPE Courses: https://www.cpethink.com/estate-taxes-planning
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