Gift Tax Planning
2 CPE for AFSP, EA, CFP®, CPA, CRTP
Effective gift tax planning can significantly reduce a taxpayer’s overall estate tax liability while maximizing wealth transfer opportunities. To advise clients on tax-efficient strategies, you need a deep understanding of how to structure gifts, leverage exclusions and navigate tax compliance. During this session, we will review gift tax planning strategies, including the annual exclusion, the lifetime estate and gift tax exemption, and split gifts and direct payments for education and medical expenses. We’ll also discuss how gifting strategies impact estate tax calculations on Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, and when gifts require filing Form 709, United States Gift (and Generation-Skipping Transfer) Tax Return.
Objectives
Upon completion of this session, you will be able to:
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Explain the annual gift tax exclusion and lifetime exemption
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Identify when Form 709 is required and how to report gifts properly
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Evaluate strategies such as split gifts and contributions to 529 savings plans
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Recognize the impact of prior taxable gifts on estate tax calculations
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Determine the importance of filing Form 709 and when filing is not required
CPE information
Duration: 100 minutes
Course level: Intermediate
Prerequisite: Basic understanding of federal income tax concepts
Advanced preparation: None
Delivery method: Group Live
