Estate Planning Essentials: Fed & Mass Issues (706 & M706)
November 10 @ 9:00 am - 1:00 pm$245
Join Luke in this exciting walk through of a Federal & Mass. estate.
The estate tax laws continue to change so come and learn how to prepare estate and gift tax returns in this new environment. We will begin by briefing you on a spectrum of topics from 2014 and beyond such as the changes to the applicable extension amount for deaths occurring in 2014, 2015 and beyond; a closer look at the importance of a step up in basis in light of the new net investment income tax (NIIT) and how it works; the portability of the estate tax exemptioin; the adjustment of the generation-skipping tax (GST) to inflation; and the scheduled maximum rate for gifts, estates and GST. Using a hypothetical example we will then walk you through schedule by schedule the preparation of a federal and Massachusetts estate tax return along with a brief explantion of the different estate planning documents you may encounter when preparing these returns; such as revocable trust, irrevocable life insurance trusts, first and second to die variety, Medicaid income only trusts, limited liability companies and much more with special attention paid to a joint trust and the application of § 1014 e to the trust and the possible double step up in basis. This course will also include the preparation of a gift tax return in connection with the use of a qualified personal residence trust. So sharpen your pencil and come to this hypothetical-packed session ready to “do the math”.
- Filing Release of Liens, General Information & Elections;
- Real Estate – Schedule A;
- Stocks & Bonds – Schedule B;
- Mortgages, Notes & Cash – Schedule C;
- Life Insurance – Schedule D;
- Joint Property – Schedule E;
- Other Miscellaneous Property – Schedule F;
- Lifetime Transfers – Schedule G;
- Powers of Appointment – Schedule H;
- Pensions & Annuities – Schedule I;
- Deductions: Admin. Expenses, Debts & Lossses – Schedules J, K, L;
- Bequests to Surviving Spouse – Schedule M;
- Charitable Deductions – Schedule O;
- Generation Skipping Transfers – Schedule R;
- Credits for Taxes on Prior Transfers, etc. – Schedule P & G;
- Hypothetical Problem & Federal & State Computations in Detail.
- Questions and Answers.
To register call 978-468-6528 or download and fax registration form below2017 Fall Reservation Form
All Programs are Designed to Qualify for CPE Credit Under Rules Promulgated by the State Boards of Accountancy, State Bar Associations, IRS Director of Practice and the Institute of Certified Bankers.