Monday, July 21 | 1:00 p.m. - 2:40 p.m. | Concurrent Session
Maximizing Gifts, Minimizing Tax Liabilities
2 CPE for AFSP, EA, CFP®, CPA, CRTP
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This program provides an in-depth exploration of advanced gift tax concepts and strategies to help clients maximize the benefits of gifting while minimizing tax liabilities. Learn how to navigate generation-skipping transfers, splitting gifts with a spouse, gifts to non-residents, direct skips and tax planning with 529 contributions. Gain practical knowledge of how to report these activities on Form 709 and implement strategies that protect gifted assets from probate. This course equips you with the tools to offer comprehensive and compliant gift tax planning services.
Objectives
Upon completion of this session, you will be able to:
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Review direct skips and when splitting a gift with a spouse is beneficial
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Discuss multiple layers of gift-giving to protect the asset given from being lost to probate
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Examine how lump sum 529 gifts are reported on Form 709
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Offer tax planning strategies to clients that will help them gift assets they may not need
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Illustrate how to complete different gifting options on Form 709
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CPE information
Duration: 100 minutes
Course level: Advanced
Prerequisite: Basic federal income tax knowledge
Advanced preparation: None
Delivery method: Group Live
