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Course Details

Using the Internet in Estate Planning - Electronic Estate Planning and Presentation (Course Id 877)

Updated / QAS / Registry   Add to Cart 
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 24.0
IRS Credits : 0
Price : $167.95
Passing Score : 70%
Primary Subject-Field Of Study:

Taxes - Taxation for Course Id 877

Description :

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
Release : 2016
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 : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE)
Revision Date : 22-Jun-2016
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:

    * Internet tax research
    * Strengths & weaknesses of Web research
    * Law libraries & site lists
    * Existing law
    * Proposed law
    * Articles, commentaries & treatises
    * Developments & newsletters
    * Tax forms
    * Administrative agencies
    * Search sites
Learning Objectives:

After reading Chapter 1, participants will be able to:
    1. Recognize ways that the Internet is changing the tax and legal professions so that adaptations can be made efficiently, recall the evolution of the Internet noting contributing organizations and determine the differences between the Internet and the World Wide Web.
    2. Identify Internet resources safely and state how to use them by:
      a. Specifying basic parts of an Internet connection noting how to optimize the connection and the various ways to connect to the Internet discerning their various speeds; and
      b. Determining what browser software allows users to do including how the browser retrieves Web documents or pages.
    3. Determine how to Surf the net by typing a URL into an address bar identifying the function each part of the address, specify how to securely and politely send and receive e-mail with attachments, choose mailing lists and newsgroups, and identify ways to improve Internet performance including starting with a blank page or by using multiple windows.
    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 IRSs helpful Web sites and use specialize search tools, and locate an all-in-one site for a case, legislation and regulation search.
ASSIGNMENT SUBJECT
Chapter 2 Building an Estate

At the start of Chapter 2, participants should identify the following topics for study:

    * Types of income
    * Rules of budgeting
    * Cash
    * Savings
    * Acquisition
    * Assets
    * Rules of management
    * Managing risk
    * Taxes
    * Leverage
Learning Objectives:

After reading Chapter 2, participants will be able to:
    1. Identify money management goals noting types of income, recognize the causes of increased taxable income for itemizing taxpayers, and specify the types of taxable income and their proper reporting.
    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 clients 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.
ASSIGNMENT SUBJECT
Chapter 3 Preserving the Estate

At the start of Chapter 3, participants should identify the following topics for study:

    * Obstacles to preservation
    * Tracking spending
    * Building savings
    * Designing a budget
    * Determining worth
    * Analyzing net worth
    * Ignorance
    * Inflation
    * Taxes
    * Tax planning tactics
Learning Objectives:

After reading Chapter 3, participants will be able to:
    1. Identify spending habits noting how to design a budget to increase discretionary income, determine net worth using a balance sheet, and select assets and liabilities for an inventory on which to base financial goals.
    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.
ASSIGNMENT SUBJECT
Chapter 4 Distribution of the Estate

At the start of Chapter 4, participants should identify the following topics for study:

    * Unlimited marital deduction
    * Applicable exclusion amount
    * Stepped-up basis
    * Basic estate planning goals
    * Simple will
    * Types of trusts
    * Charitable trusts
    * Insurance trusts
    * Family documents
    * Private annuities
Learning Objectives:

After reading Chapter 4, participants will be able to:
    1. Identify estate planning for business clients by:
      a. Selecting elements of estate tax planning that have remained unchanged by recent legislation;
      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.
    2. Determine the differences between stepped-up basis and repealed modified carryover basis for estate tax purposes.
    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.
ASSIGNMENT SUBJECT
Chapter 5 Plans, Devices & Techniques

At the start of Chapter 5, participants should identify the following topics for study:

    * Disposition of property without a will
    * 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
Learning Objectives:

After reading Chapter 5, participants will be able to:
    1. Identify the process of property disposition within probate under a will and intestate succession noting impact on an estate and its beneficiaries.
    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 - Estate Planning & the Internet

Estate Planning as a Universal

The Internet & Estate Planning

Internet Tax Research - An Overview

Internet Evolution & Revolution

Internet & World Wide Web

Connecting to the Internet

Hardware

Phone Modem Optimizing

Cable Modems

Computer Monitor

Connection

Software

Microsoft Explorer (Edge) & Others

A Short Course on Browsers

Surfing (and Sometimes Crawling On) the Net

Internet Addresses

E-Mail

Privacy & Security

E-Mail Addresses

Mailing Lists

ABA- PTL

Accountant Forums

E-Mail Addresses

E-Mail Etiquette

Speeding up the Internet

Start with a Blank Home Page

Using Multiple Windows

Strengths & Weaknesses of Web Research

History vs. News

Statutes & Regulations

Its Unofficial

Pros & Cons of Free Service

Law Libraries & Site Lists

Cornell Law School - Federal & State

Duke University Law - Federal & State

Georgetown University Law School - Federal

University of Iowa - Federal & State

Tax Sites Guide - Federal & State

Tax Planning Resources

Existing Law

Current Federal Tax Law

Internal Revenue Code

Treasury Regulations

Federal Register

Internal Revenue Bulletin & Private Letter Rulings

Federal Cases

U. S. Supreme Court Decisions (running from 1990)

Federal Courts of Appeals Decisions

Current California Law

California Statutes

California Case Law

Proposed Law

Pending Federal Law

Congress

E-Mail Your Senator/Representative

Pending California Law

California State Senate & Assembly

Contacting Your California State Representative

Articles, Commentaries & Treatises

Havens Legal Research for Estate Planners - Articles

Accounting Today Articles for Advisors

Developments & Newsletters

The Tax Prophet

Tax Tips & Facts

TaxAnalysts

Newsgroups & Usenet

Tax Forms

Federal Tax Forms & Publications

California Tax Forms & Publications

Administrative Agencies

IRS

Franchise Tax Board

Search Sites

All-In-One Sites

Case, Legislation & Regulation Search

Chapter 2 - Building the Estate

Assets, Income & Cash

Income

Type #1 - Taxable

Information Reporting on Taxable Income

Payments

Salary & Wages

Interest Income

Dividends

Tax-refunds

Gambling Winnings

Other Income Known to the IRS

Real Estate Transactions

Type #2 - Tax-free

Type #3 - Tax-Deferred

Type #4 - Tax-sheltered

Gifts

Borrowed Money

Gain on Home Sales

IRA Rollovers

Inheritances

Life Insurance Proceeds

Property Settlements

Child Support Payments

Money Recovered For Personal Injuries

Workers Compensation Payments

Disability Payments

Tax Refunds

Municipal Bond Interest

Vacation Home Rental

Childrens Wages

Childrens Investment Income

Scholarships

Budgeting

Rule #1: Expenses - 60%

Rule #2: Taxes - 20%

Rule #3: Savings - 10%

Rule #4: Education - 10%

Rule #5: Keep Your Benefits

Cash

Lifestyle

Emergency Funds

Savings as Deferred Investing

How To Save

Programmed Savings

Tax Savings

Joint vs. Separate Returns

Purchase of Assets

Acquisition

Stay Liquid - Be Able To Get Your Money Back

Grow - Make Money on Your Money

Shelter - Get Tax Benefits

Build - Dont Spend Your Benefits

Avoid Linking - Each Investment Must Stand On Its Own

Analyze - Investigate the Investment

Assets

Management

Rule #1 - Develop Cash Flow

Rule #2 - Learn To Negotiate

Rule #3 - Manage Risk

Investment Loss

Liability

Poor Health

Premature Death

Rule #4 - Diversify

Rule #5 - Monitor Assets

Rule #6 - Use Systems

Taxes & Investment Economics

Deductions Now, Taxes Later or Maybe Never

Accelerate Deductions

Taxes

Charitable Contributions

Medical Expenses

Miscellaneous Expenses

Business Expenses

Leverage

Chapter 3 - Preserving the Estate

Four Obstacles to Preservation

Spending Habits

Track Your Spending

Income

Expenditures

Living Expenses

Fixed

Variable

Credit Card Payments

The Bottom Line

Converting a Minus into a Plus

Build in Savings

Adjustments

Designing a Budget

What Are You Worth?

Inventory Assets

Cash

Personal Property

Investments

List Liabilities

Analyze Net Worth

Wasting Assets

Liquidity

Diversification

Cash Reserve

Ignorance

Taking Control

Planning Responsibility

Delegation

Asset Allocation - Risk & Return

Diversification

Risk (Fear) Tolerance

Timing

Quantifying Risk

Standard Deviation

Price Volatility

Rules of Risk

Another Fear - The Fear of Failure

Correction Courage

Inflation

Taxes

IRAs & Keogh Plans

Municipal Bonds

Low or No Dividends

Tax Planning Tactics

Chapter 4 - Distribution of the Estate

Unlimited Marital Deduction

Outright To Spouse

Marital Deduction Trust

Qualified Terminable Interest Property Trust

Applicable Exclusion Amount

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

Stepped-up Basis & Modified Carryover Basis

Modified Carryover Basis - 1022

Limited Basis Increase for Certain Property

2010 Special Election

Basic Estate Planning Goals

Primary Dispositive Plans

Simple Will

Danger for Larger Estates

Probate

Assets Not Subject to a Will

Assets Subject to a Will

Trusts

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

Conservatorship

Funeral Arrangements

Anatomical Gifts

Private Annuity?

Advantages to the Transferor

Disadvantages to the Transferor

Advantages to the Transferee

Disadvantages to the Transferee

Regulations Restrict Private Annuity Income

Chapter 5 - Plans, Devices & Techniques

Estate Planning Techniques & Devices

Transfers within Probate

Disposition of Property Without a Will

Disposition of Property with a Will

Transfers Outside Probate

Joint Tenancy with Right of Survivorship

Tenancy in Common

Retirement Plan & Individual Retirement Accounts

Life Insurance

Gifts

Payable on Death Accounts (POD)

Transfers Using a Trust

Special Planning Tools

Spending

Annual Gift Tax Exclusion

Applicable Exclusion Amount

Spousal Portability of Unused Exemption Amount

2010 Special Election

Unlimited Marital Deduction

Family Business Deduction - Expired

Installment Payment of Estate Taxes

Private Annuities

Installment Sale to Family Member

Self-Canceling Installment Notes

Irrevocable Life Insurance Trust

Special Valuation of Farms and Businesses

Crummey Trusts

Charitable Remainder Trusts

Minor Trusts

Family Limited Partnerships

Grantor Retained Income Trusts

Qualified Personal Residence Trusts (QPRTs)

Grantor Retained Annuity Trusts (GRATs)

Grantor Retained Unitrusts (GRUTs)

Buy-Sell Agreements

Appendix A - Bookmarks

Expanded List of Web Sites

Acrobat Reader - The Document Download Standard

Art - The medium is the message

Autos & Vehicles

Boalt Hall - My Law School

Books - General Interest

Business - Individual greed is the good of all, Mr. Smith

Calculators - The harmony of numbers

California Culture - The Home of Zorro

Clip Art, Photos & Sounds

College Planning - Knowledge is Power

Consumer Rights & Info - Forgive All But Insist on Your Rights

Electronic Texts & Books

File Conversion

Financial - Only Self-Sufficiency Earns the Privilege to Help Others

Advice & Commentary

Advisor Ratings

New folder

Buy Hold Sell Recommendations

General

Reports & Summaries

Analysis - Evaluation & Selection Strategies

Active Methods - Working the Numbers

Passive Methods - Investing on Auto-Pilot

Asset Allocation

Associations & Groups

Brokers

Discount On-line

Full Service

Ratings

Budgeting & Managing Debt

Calculators

Clubs - Just a Sampling

Commodities & Futures

Derivatives

Discussion Groups, Message Boards & Chat

DRIPs - Dividend Reinvestment Plans

Education

FAQs

General

Glossaries & Dictionaries

Tutorials & Guides

Financial Planning

Insurance - Manage Risk

Agencies

Calculators

Education

General

Health

Legal

Property & Liability

Quotes

Ratings

Magazines & Periodicals

Market Monitors

Market Research & Investigation

Annual Reports

Annuities

Bonds

Charts

Mutual Funds

General

Indexed Funds

No-Load

Numbers, Statistics & Indexes

Prospectuses

SEC Filings

Stocks & Companies

Market Simulation Games

News - Financial

General

Mutual Fund News

Options

Portfolio Trackers

Quotes

Cusip #s

General

Historical

Real Time

Rates

Currency Exchange

Loan & Savings

Real Estate

General

News

Property

REITs

Risk Tolerance

Screeners

Food & Diet - You Are What You Eat

Fraud

Humor & Wit - Don't Confuse Stimulation With Thought

Comedy Newspapers

Jokes

Mark Twain

Huntington Beach - My Home

Internet - Guides, Marketing & Information

Dictionaries & Reference

E-mail Viewers

Guides

Marketing & Promotion

Permanent E-Mail Address

Resources

Web Page Design

Language - The Medium of Abstract Thought

Law - Limit the strong in treading upon the weak

Asset Protection

Books

Business Entities

Codes & Public Laws

Commercial Law & Contracts

Divorce & Family Law

California

Forms & Agreements

General

Eldercare

General Issues

Medicare & Medicaid

Nursing Homes & Living Alternatives

Employment & Labor

Federal

Agencies - General

Antitrust

Bankruptcy

Civil Procedure

Constitution

Copyright

Courts

Executive Orders

Immigration

Patent

Pending Legislation

Search - Federal

Social Security

Trademarks

U.S. Government Documents

Forms

Law Schools & Libraries

Lawyers

Legal Resourses - General

Municipal City Codes

Real Estate

Search

State

California

Bar

Codes

Courts

Forms

Legislature

Search

General State Resources

Uniform & Model Codes

Live Cameras

Loans & Mortgages - Don't lend money, it causes amnesia

Maps & Directions

Medical

Music

My Web Pages

News

Search Sites

Sources

Newsgroups

Newsletters

Office Utilities - Work Smart

Firewalls

General

Virus Scan

Web Calendars & PIMs

Web Drives

Word Processors

Package Tracking

Philosophy - Seek the Truth

Politics - Tyranny Requires Consent

Public Records

Real Estate

Foreclosure Resources

Reference - Its Important to be Correct

Dictionaries

Encyclopedias

Research & Reports

Religion - A Voluntary Suspension of Disbelief

Retirement Planning - Don't Get Old Without Money

Rome - My Heritage - Hail Victory

Science - The Triumph of Reason & Knowledge

Search - Seek and You Shall Find

General Search Sites

Meta Search Sites

News & Periodical Search Sites

People Search Sites

Shareware, Freeware & Updates

Shopping - Spend Wisely Or Not At All

Auctions

Computers & Software

Coupons

Food

General Merchandise

Music

Product Comparison

Videos

Statistics - Know the Facts

Tax - The Ransom for Civilization

Accountant & Attorney Locators - Tax

Accounting & Legal Associations

Applicable Federal Rates

Articles

Audit

Books

Calculation

California

Code - Federal

Commentary

Congressional Bills & Acts

Congressional Committees

Congressional Publications

Continuing Professional Education (CPE)

Courts & Cases

Circuit Courts of Appeal Cases

Court of Federal Claims Cases

General

Supreme Court Cases

Tax Court Cases

Divorce & Family Taxation

Employee Independent Contractor

Estate Tax Law & Planning

Forms

General

FASB

Federal Register

Foreign & International

Forms

Fraud

Health Savings Accounts

Investment Taxation

IRAs

IRS - Announcements

IRS - Audit Techniques Guides

IRS - Bulletins

IRS - General Interest

IRS - Notices

IRS - PLRs, AOD, etc

IRS - Pronouncements by Year

IRS - Publications

IRS - Revenue Procedures

IRS - Revenue Rulings

IRS Procedures

Libraries

Links & Sites

Magazines

Mailing Lists & Discussion Groups - Taxes

News - Taxes

Offers in Compromise & Other Tax Problems

Payroll Taxes

Pending & Recent Legislation

Per Diem Allowances

Protesters

Rates & Tables

Regulations

Research - Tax

Software

State Tax Forms

State Taxes

Income Tax

Sales Tax

Tax Free Exchanges

Tax Subscription Services

Valuation - Everything's Price But Nothing's Value

 

Glossary

Taxes Course 877 Home: https://www.cpethink.com/tax-cpa-courses
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