2024 The Preparation of Form 706 and 709 – Understanding the Law

Understanding the complexities of estate and gift taxation can be challenging for many financial professionals, especially those who lack direct experience in this area. In this comprehensive course, participants will gain a solid foundation in Federal estate and gift tax law, providing them with the necessary tools to confidently handle tax compliance issues related to Forms 706 and 709. By exploring the details of the Internal Revenue Code sections pertinent to estate and gift taxation, attendees will gain a thorough understanding of key concepts, including deductions, valuations, and tax credits. This practical knowledge will not only enhance their expertise but also empower them to provide effective tax planning strategies for their clients.

Throughout the course, participants will investigate essential topics such as the valuation of assets, deductions for funeral and administrative expenses, charitable and marital deductions, and the calculation of tax credits. By mastering these critical areas, financial professionals will be better equipped to navigate the challenges of estate and gift taxation, ultimately enabling them to provide comprehensive and effective tax planning services for their clients. Whether you're looking to expand your expertise or deepen your understanding of tax compliance issues, this course offers invaluable insights and practical knowledge that can immediately be applied in your practice.

**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 kori.herrera@acpen.com.

Basic Course Information

• Identify the complexities of estate and gift tax deductions, including funeral and administrative expenses
• Recognize the rules governing charitable and marital deductions in estate and gift taxation
• Discuss the nuances of tax credit calculations to enhance overall tax compliance
• Describe the basics of Estate and Gift Taxation, including valuation of assets
• List the components of the "Gross Estate" and understand their implications
• Explain various deductions such as funeral and administrative expenses
• Analyze different types of debts in estate and gift taxation
• Compare and contrast the charitable and marital deductions
• Summarize the calculation and application of various tax credits

• Estate and Gift Taxation Fundamentals
• Valuation of Estate Assets
• Components of the Gross Estate
• Deductions in Estate Taxation
• Charitable and Marital Deductions
• Tax Credits and Their Application