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Family Tax Planning - Mini CourseCode: 24-FAMILY2
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Course description and objectives:
While the nuclear family remains the centerpoint of society, today it is under tremendous economic and social pressure. This mini-course is designed to cover "hot" topics having a direct impact on 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.
After reading the materials, participants will be able to:
1. Describe the effect of marital status on filing status, determined the advisability of filing a joint return enlight of the innocent spouse rules, list available exemptions, and differentiate between deductible and nondeductible divorce costs
2. Clarify the costs and fees that qualify for the tax credit for adoption expenses and for education credits, such as the HOPE credit, identify the requirements for dependent care assistance, and explain to clients the contribution limits for Coverdell ESAs
3. Point out the medical cost deductions available to clients and discuss with them home mortgage interest and moving expense deductions, and explain the taxation of interspousal transfers, including §1041 transfers and property settlements.
Presentation Method: Self-Study
CPE credit: 2 Hours
Program Level: Update
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase