Understanding the Federal Gift Tax

Authored by Steven Siegel
About this Course
Topics covered include: Transfers subject to the gift tax; Transfers that are not subject to the gift tax; Significantly enhanced lifetime exclusions from the gift tax; Generation-skipping transfer tax exclusions and recent enhancements; Gift-splitting by spouses; Available gift tax deductions; Valuation of gifts; Avoiding gift treatment by using disclaimers; Portability and the gift tax; 'Defined value gifts' as a planning tool; Statutes of limitations and the adequate disclosure rules. Upon completing this course, you should be able to: Describe what the federal gift tax is and how it works; Identify transfers that are subject to the gift tax and which are not; Explain key compliance and reporting requirements for the gift tax; Identify planning opportunities with the gift tax; Recognize the exclusion amount available to various client scenarios; Differentiate how to utilize the gift-splitting provision Code; Recognize and apply how gifts affect the lifetime exclusion; Identify how to classify income interest; Identify the maximum gift tax rate; Identify the lifetime gift tax exemption for 2018 as amended by the Tax Cuts and Jobs Act; Recognize the statute of limitations that applies with respect to gift tax returns.
$ 34.00
Course is unavailable for purchase.
NASBA Field of Study
Taxes
Level
Overview
CPE Credits
2.0
Prerequisites
None
Last Updated
07/03/2018
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