|Author :||Danny C Santucci, JD|
|CPE Credits :||24.0|
|IRS Credits :||0|
|Passing Score :||70%|
|Primary Subject-Field Of Study:||
Taxes - Taxes for Course Id 877
While many tax professionals are aware of the general tax resources available on the Internet, this course focuses on the expanding electronic resources for estate planning. Whether it is historical stock quotes, cusip numbers or just access to the Code, the Internet now offers a wealth of information, research tools, and calculators specifically designed for the estate planning practitioner. These resources permit the tax professional to not only better serve their clients but to network with fellow practitioners, market their services and become more cost-efficient. Be there or be square!
|Usage Rank :||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 :||Self-Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||22-Oct-2017|
|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 - NASBA Registry - 877
|Keywords :||Taxes, Using, Internet, Estate, Planning, Electronic, Estate, Planning, Presentation, cpe, cpa, online course|
|Learning Objectives :||
As a result of studying each assignment, you should be able to meet the objectives listed below each assignment.ASSIGNMENT SUBJECT
Chapter 1 Estate Planning & the Internet
At the start of Chapter 1, participants should identify the following topics for study:
* Strengths & weaknesses of Web research
* Law libraries & site lists
* Existing law
* Proposed law
* Articles, commentaries & treatises
* Developments & newsletters
* Tax forms
* Administrative agencies
* Search sites
After reading Chapter 1, participants will be able to:
2. Identify Internet resources safely and state how to use them by:
b. Determining what browser software allows users to do including how the browser retrieves Web documents or pages.
4. Cite the strengths and weaknesses of researching on the Web, identify the best way to research tax issues, and locate legal and tax resources on the Web using various online law libraries and site lists.
5. Identify several tax-planning resources for current federal and state law, locate Web articles, commentaries and treatises on tax and estate law, determine how to stay up to date with current developments in tax and estate planning by finding related Web newsletters, and specify the connection between Usenet newsgroups and how they can be used for tax planning purposes.
6. Determine how to prepare and file federal tax forms using the IRS’s helpful Web sites and use specialize search tools, and locate an all-in-one site for a case, legislation and regulation search.
Chapter 2 Building an Estate
At the start of Chapter 2, participants should identify the following topics for study:
* Rules of budgeting
* Rules of management
* Managing risk
After reading Chapter 2, participants will be able to:
2. Determine the distinctions between tax-free municipal bonds from fringe benefits in generating tax-free income, cite the benefits of tax deferral, and identify tax-deferred investments.
3. Specify ways to shelter income noting how income sheltering amplifies investment return.
4. Recognize the budgeting of income into cash by containing expenditures with the author's six step process and the development of discretionary income noting important variables, identify a client’s negative outlook on budgeting, determine how to convert income into assets by purchasing investments, and specify asset acquisition rules for improved investment return.
5. Identify tax-advantage investments using six basic management rules, and recognize the economic impact of accelerating deductions, postponing tax liability, and leveraging.
Chapter 3 Preserving the Estate
At the start of Chapter 3, participants should identify the following topics for study:
* Tracking spending
* Building savings
* Designing a budget
* Determining worth
* Analyzing net worth
* Tax planning tactics
After reading Chapter 3, participants will be able to:
2. Specify why individuals should take primary responsibility for the investment planning including necessary self-education, determine the allocation of financial resources among investments to maximize return, and recognize the impact of inflation, risk versus return, and basic income tax planning tactics.
Chapter 4 Distribution of the Estate
At the start of Chapter 4, participants should identify the following topics for study:
* Applicable exclusion amount
* Stepped-up basis
* Basic estate planning goals
* Simple will
* Types of trusts
* Charitable trusts
* Insurance trusts
* Family documents
* Private annuities
After reading Chapter 4, participants will be able to:
b. Recognizing the unlimited marital deduction and its effect on the gross estate of the value of property; and
c. Specifying the applicable exclusion amounts for various years of death.
3. Specify estate-planning goals and the benefits and drawbacks of the primary dispositive plans.
4. Identify the various types of trusts noting their estate planning uses.
5. Specify family documents that every taxpayer should consider.
6. Determine the advantages and disadvantages of the former private annuity format.
Chapter 5 Plans, Devices & Techniques
At the start of Chapter 5, participants should identify the following topics for study:
* Disposition of property with a will
* Joint tenancies & tenancies in common
* Retirement plans & IRAs & life insurance
* Gifts & payable on death accounts
* Transfers using a trust
* Annual gift tax exclusion & unlimited marital deduction
* Annuities & trusts
* Grantor retained income trusts
* Buy-sell agreements
After reading Chapter 5, participants will be able to:
2. Specify ways to make transfers outside the probate system including the use of a trust.
3. Identify special exclusions, deductions, and transfers to be used as estate-planning tools permitting clients to pass more wealth to heirs and save death taxes while retaining maximum control where possible.
4. Recognize how specialized trusts, valuations, and entities can reduce estate taxes, determine how to take advantage of the annual gift tax exclusion and provide a tax deduction or offer income, estate and gift tax savings.
5. Identify a grantor retained income trust as an estate-planning device noting variations of this trust and specifying their benefits to the grantor and beneficiaries.
|Course Contents :||
Chapter 1 -
Current Tax Tips
Chapter 2 -
Chapter 3 -
Chapter 4 -
Chapter 5 -
Appendix A - Bookmarks
Buy Hold Sell Recommendations