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Course Details

Family Tax Planning - Mini Course (Course Id 245)

Updated / QAS / Registry / EA
  Add to Cart 
Author : Danny C Santucci, JD
Course Length : Pages: 34 ||| 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 245

Description :

While the nuclear family remains the center point of society, today it is under tremendous economic and social pressure. This mini-course is designed to cover “hot” topics having a direct impact on the practitioner who represents any client with family issues. The emphasis is on using tax solutions to ease family economic concerns permitting the practitioner to be a real tax hero.  

Usage Rank : 19545
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 : 23-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 - 245

Keywords : Taxes, Family, Tax, Planning, 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:

    * Filing status & exemptions
    * Divorce costs
    * Child, dependent care & adoption credits
    * Education expenses, credits & deductions
    * Medical costs
    * Charitable contributions
    * Casualty & theft losses
    * Home sales & mortgage interest
    * Property rights
    * Elderly, disabled & estate planning
Learning Objectives:

After reading the materials, participants will be able to:
    1. Recognize the effect of marital status on filing status, identify the advisability of filing a joint return enlight of the innocent spouse rules, specify available exemptions, and determine the differences between deductible and nondeductible divorce costs.
    2. Identify the costs and fees that qualify for the tax credit for adoption expenses and for education credits, such as the HOPE credit, and cite the requirements for dependent care assistance and the contribution limits for Coverdell ESAs.
    3. Determine medical cost deductions available to individuals under 213, specify items qualifying as deductible 163 home mortgage interest, and recognize the taxation of 1041 interspousal transfers particularly as to property settlements.
Course Contents :

Chapter 1 - Family Tax Planning


Filing Status

Marital Status


Abandoned Spouse Rule


Joint Return

Innocent Spouse Relief - 6015

Refund Offset Program - 6402

Injured Spouse - Form 8379

Separate Returns

Separate vs. Joint Dilemma

Disadvantages of a Separate Return

Advantages of a Separate Return

Joint Return after Separate Returns

Head of Household

Exemptions Suspended

Former Phaseout of Exemptions

Divorce Costs

Tax Advice - 212(3)

Fees to Obtain Alimony or Protect Income - 212(1) & (2)

Fees to Obtain Property - 1012 & 1016

Living Together

Married v. Unmarried Tax Rate Comparison

Sham Divorce

Dependency Exemptions

Alimony & Property Divisions

Children's Income

Unearned Income of Children Under 18 - The "Kiddie Tax"


Adoption Credit

Exclusion from Income for Employer Reimbursements

Child or Dependent Care Credit - 21


Employment Related Expenses

Qualifying Out-of-the-home Expenses

Payments to Relatives

Allowable Amount

Dependent Care Assistance - 129


Dependent Care Assistance - 129

Amount of Assistance


55% Test

Conflict with Dependent Care

Work-Related Educational Expenses - 162

Qualified Individuals

Qualifying Education



Education Required by Employer or by Law

Education to Maintain or Improve Skills

Education Expense Credits - 25A

American Opportunity (former Hope) Tax Credit  - 25A(b)

Phase Out - 25A(d)


Lifetime Learning Credit - 25A(c)

Phase Out - 25A(d)(1)

Education Savings (or Coverdell) Accounts - 530

Contribution Limits

Beneficiary Limit

Contributor Limit

Phased Out of Contribution

Qualified Expenses


Student Loan Interest - 221

Qualified Education Loan

Related Party Loan

Qualified Higher Education Expenses

Qualified Tuition Programs - 529


Form 1099-Q Reporting

Education Expenses - 529(e)(3)

Cancellation of Student Loans - 108

Other Loan Forgiveness

IRA Withdrawals for Education - 72(t)

Scholarships & Fellowships - 117

Degree Candidate

Student Loans

Qualified Tuition Reduction

Educational Savings Bonds - 135


Medical Costs - 213



Health Savings Account - 223

Eligible Individuals


Health Insurance For Self-Employed

Charitable Contributions - 170

Requirements for Deductibility

Limitations on Contributions

60% Ceiling

30% Ceiling

20% Ceiling

Carryovers - Five Years

Casualty & Theft Losses - 165




Special Residence Rule

Disaster Area Losses

Unsafe Home

Special Residence Rule

Home Sales

Exclusion Amount

Two-Year Ownership & Use Requirements

Tacking of Prior Holding Period

Prorata Exception

Limitations on Exclusion

Reduced Home Sale Exclusion for Periods of Nonqualified Use

Moving Expenses - 217

Moving Expense Reimbursement

Home Mortgage Interest

Home Acquisition Debt

Home Equity Debt


Exception - Fully Deductible Points

Property Rights

Marital Property

Common Law Property

Community Property

Equitable Distribution

Separate Property

Premarital Agreements


Enforceability Requirements

Property Settlements

Passive Activity Loss Property


Qualified Domestic Relations Order


Alimony Restrictions & Requirements

Pre 2019 Decrees

2019 & Later Decrees

Pre-2019 Recapture of Alimony

Child Support

Contingency Relating To the Child

Clearly Associated With a Contingency

Elderly & Disabled Planning

Managing the Estate

Catastrophic illness

Health Care Decisions

Accelerated Death Benefits

Terminally Ill Individual

Chronically Ill Individual

Exclusion Limited

Estate Planning

Simple Will

Applicable Exclusion

Portability Deceased Spousal Unused Exclusion Amount

Danger for Larger Estates


Living A-B Revocable Trust

Living A-B-C (QTIP) Trust

Impact of Spousal Portability on Trust B



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