Making the Best of Bad Situations: Part 2 (Death of Client, Terminal Illness, Foreclosure, Debt Relief)

The start date for this course has passed. Registration is no longer available.

This course is 2.00 credits
Field of Study
Tax
Course Level
Update
Vendor
BPN, Inc ACPEN

Registration Fees

MSCPA-AICPA Member
$79.00
MSCPA Member
$79.00
AICPA Member
$109.00
Non-Member
$109.00
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Thursday, Mar 8, 2018
11:00am – 12:40pm

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This course helps the practitioner understand planning considerations and potential problems when certain "bad situations" happen to his/her client. The focus of this course is on tax and non-tax issues involving the death of a client, terminal illness, foreclosure, debt relief, damages and medical expenses. **Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

This course helps the practitioner understand planning considerations and potential problems when certain "bad situations" happen to his/her client. The focus of this course is on tax and non-tax issues involving the death of a client, terminal illness, foreclosure, debt relief, damages and medical expenses.

 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Designed For

*CPAs *EAs *Attorneys *Financial Planners

Course Objectives

*Recognize the tax and non-tax issues of various circumstances that a client classifies as bad situations pertaining to Death of a Taxpayer

*Recognize the 10% AGI threshold for medical expenses on a tax return mean for the taxpayer

*Identify planning for the reduction of death taxes and making sure a beneficiary does not waste an inheritance

*Identify which area could cause the most problems under a tax deferral of retirement income

*Recognize the limitations of Form 1040, Schedule A

*Recognize basis for beneficiaries

*Identify the basic exclusion amount that a decedent can pass through an untaxed estate

*Describe the Helping Families Save Their Homes Act

*Identify the best way to handle medical expenses when the client has passed away

*Identify the DSUE amounts available

*Describe the due date and when it's wise to make a portability election

*Identify a non-taxable damage award and when it applies

*Recognize how to best deduct legal expenses

Major Subjects

*Death of a Client

*Terminally Ill Issues

*Foreclosure Issues

*Debt Relief 

*Medical Expenses

*Schedule A and AGI Limitations

*Casualty Losses

*"Pease" Limitations

Prerequisites

None

The start date for this course has passed. Registration is no longer available.