Tax Relief Act of 2010: Impact on Estate Planning

With provisions that affect both 2010 returns and forward planning for 2011 and 2012, the Tax Relief Act of 2010 puts pressure on tax practitioners to get up to speed rapidly on how to advise clients. Several income tax provisions have implications for the 2010 estimated tax payments, including the January 15, 2011 estimate, and also the 2010 returns themselves. In some cases, provisions may affect retroactively the estates of people who died in 2010.

 

CPE Link has responded with a new webcast devoted to the new rules of the Tax Relief Act of 2010 with an emphasis on estate planning and wealth succession and key rules for individuals and businesses. 

 

The 2-hour webcast, Tax Relief Act Of 2010: Focus On Financial and Estate Planning puts practitioners on the cutting edge of financial and estate planning for 2011 and 2012. “The political theater that led to the Act’s passage is over and tax practitioners have to deal immediately with the reality. This course helps them to leverage the detailed provisions of the Act in practical and client-friendly financial and estate plans,” said instructor Owen Fiore, JD, who represents families and business entities in developing and implementing tax sensitive wealth succession, preservation and management plans. 

 

This webcast covers the following topics:

  • What to do with estates of decedents dying in 2010, including election to opt into a “zero estate tax” but with carryover income tax basis.
  • How estate plans must be revised in 2011, to account for new estate tax provisions of the Tax Relief Act of 2010.
  • What Congress may do in 2011, especially with GRATs (grantor retained annuity trust) and valuation discounts
  • The new attraction of major gifts and leveraged gifting through Family Limited Partnerships (FLPs) and Limited Liability Corporations (LLCs).

CPAs, enrolled agents, and financial planners can sign up now for the CPE Link webcast offered January 21 or February 9.

 

This blog

by Sue Anderson - Based on 30 years of experience in continuing education for accountants. Currently program director for online CPE provider, CPE Link. Formerly with the California CPA Education Foundation managing key operational areas including marketing, program development, and distance learning.

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