- Credits: 2
- Format: OnDemand® Webinar
- Field of Study: Federal Tax Update
- Author/Speaker: Art Werner
*Content Preview
| Available Formats: | |
|---|---|
| Advanced Preparation: | None |
| Experience Level: | Overview |
| Program Prerequisites: | General Understanding of Estate and Gift Taxation |
| Course ID: | EWTFM-U-01881-22-O | 6233-CE-0596 |
| Published Date: | © April 2021 |
COURSE DESCRIPTION
Legislation, known as the “For the 99.5% Act”, has been introduced in the United States Congress. If passed, this legislation will create significant changes in estate and gift planning for your clients. This is a significant piece of legislation introduced and it warrants our attention.
Art Werner will discuss this legislation to inform you how you should advise your clients in tax and non-tax estate and gift planning.
Topics include:
- The elimination of most minority interest discounts
- The elimination of many marketability discounts for passive assets
- The reduction of the estate tax exemption to $3,500,000
- The reduction of the gift tax exemption to $1,000,000
- Changes to the GST exemption and GST rules
- Estate and gift tax rate increases including a 65% rate
- Expanded conservation easements
- The practical elimination of GRATs
- Potential elimination of the ILIT under the grantor trust inclusion rule
- The new 50-year federal rule against perpetuities and the effective date rules
- How to address estates under administration when you can still elect to pay tax
- Gifts and sales to grantor trusts before enactment
Learning Objectives:
After reading the course material, you will be able to:
- Advise your clients as to how to update their estate and gift plans;
- How to structure a proper generational tax strategy.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Other Tax Return Preparer (OTRP)
Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
