November 30, 2022


Webinar


8 Total CPE Credits

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GST Tax From A to Z

Learning Objectives

  • Recognize GST law, events, special terms, recognition of issues and tax compliance with GST tax forms
  • Identify case examples, ranging from simple GST situations to complex applications and compliance issues
  • Identify how to maximize the benefit of the inflation-adjusted GST exemption
  • Learn key planning tips and the traps to avoid
  • Learn how correct placement of gifts within parts 1, 2 and 3 of Schedule A of the Form 709 set up accurate reporting of GST events and foster more accurate analysis and treatment of GST elections on Schedule D of the gift tax return
  • Checklists and action plans for you to bring to your office to better serve clients and spot issues before they become big problems
  • Learn helpful tips for making the timely and late allocations of GST exemption and avoid unwanted deemed allocations of GST exemption
  • Identify sample trust provisions to avoid GST problems
  • Experience the impact of terms and conditions in Wills and living trusts on exemption allocations and allocation of estate tax and GST exemption protection

Major Topics

  • Events that trigger GST tax
  • Allocation rules for GST exemption
  • Completion of Form 706 with special attention to GST on Form 709: Allocation of exemption (current, late and protective elections)
  • Completion of Schedule R to Form 706; Forms 706GS(D) and 706GS(T)
  • Reverse QTIP elections and portability elections
  • GST tax traps with life insurance trusts and advanced planning
  • Crummey trusts
  • GST issues with sub-trust funding and administration on the death of the first spouse
  • Impact of recent changes in the law
  • Learn about ETIPs and the important recent change to Form 709 and how to report them

CPE Credits Available

8
Total CPE
8
Taxes

Things to Know About This Course

Prerequisites

Experience with trusts and estate planning principles.

Advanced Preparation

None

Intended Audience

Attorneys, CPAs and tax practitioners.

Provider

California Society of CPAs

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