In this comprehensive course, practitioners gain a deep understanding of strategic planning considerations and potential hurdles encountered when clients face difficult circumstances. Delving into an array of scenarios often classified as "challenging," the course offers tax insights. From divorce and personal bankruptcy to intricate personal relationship matters, participants will equip themselves to adeptly guide clients through these challenging scenarios by understanding the tax implications.
Learning Objectives
- Identify and address the diverse tax and non-tax intricacies associated with various scenarios that clients perceive as "challenging."
Major Topics
- Navigating the tax and non-tax dimensions of divorce.
- Unveiling tax and non-tax considerations in personal bankruptcy, debt cancellation, foreclosure, repossession, and bad debt reporting.
- Exploring the tax and non-tax aspects of personal relationship matters, encompassing cohabitation, property rights, premarital agreements, filing status, exemptions, and dependents.
- Grasping the intricacies of support considerations for spouses and former spouses.
- Addressing support matters for children of divorced or separated parents, alongside the tax treatment of back child support.
- Delving into the business implications in instances of business dissolution.
- Tackling specialized topics, including marital property rules, tax rate comparisons for married and unmarried individuals, head of household status, and treatment of refunds and deficiencies.
