Self Study: Family Tax Planning 2022

Overview

This course is available until April 30, 2025.

While the nuclear family remains the center point of society, it is under tremendous economic and social pressure today. This mini-course is designed to cover “hot” topics directly impacting the practitioner who represents any client with family issues. The emphasis is on using tax solutions to ease family economic concerns permitting the practitioner to be a real tax hero.

Highlights

• Filing status and exemptions
• Divorce costs
• Child, dependent care and adoption credits
• Education expenses, credits and deductions
• Medical costs
• Charitable contributions
• Casualty and theft losses
• Home sales and mortgage interest
• Property rights
• Elderly, disabled and estate planning

Objectives

• Recognize the effect of marital status on filing status, identify the advisability of filing a joint return enlight of the innocent spouse rules, specify available exemptions and determine the differences between deductible and nondeductible divorce costs.
• Identify the costs and fees that qualify for the tax credit for adoption expenses and for education credits, such as the HOPE credit and cite the requirements for dependent care assistance and the contribution limits for Coverdell ESAs.
• Determine medical cost deductions available to individuals under 213, specify items qualifying as deductible 163 home mortgage interest and recognize the taxation of 1041 interspousal transfers particularly as to property settlements.

Notice

Downloadable PDF