Mastering Form 706: Making Your Estate Plan Portability-Ready
From: $119.00
Duration: 90 Minutes
Description:
In the ever-changing landscape of estate planning, staying up-to-date is more important than ever, especially in 2024. The Tax Cuts and Jobs Act (TCJA) has significantly raised the lifetime exclusion from estate taxes to a remarkable $12,920,000, providing considerable advantages to clients. But what if your clients’ estates fall below this threshold? Here’s why it matters: after the first spouse’s passing, filing Form 706 is a crucial step to secure the Deceased Spouse Unused Exemption (DSUE), which can substantially increase the estate tax exemption.
This Course will explore how the TCJA’s provisions are set to expire, reducing the lifetime exclusion to half its current value. With lawmakers in Congress advocating for even deeper cuts, understanding how to maximize these exemptions has never been more vital. Join us as we break down this essential estate planning tool and prepare you to safeguard your clients’ wealth against looming tax changes.
Learning Objectives
Understand how to effectively utilize the Deceased Spouse Unused Exemption (DSUE).
Examine the potential consequences of failing to claim DSUE.
Explore the key elements of Form 706.
Identify what constitutes a taxable estate.
Review the deductions available for estate tax purposes.
Credits and Other information:
Recommended CPE credit – 1.5
Recommended field of study – Taxes
Session Prerequisites and preparation: None
Session learning level: Basic
Location: Virtual/Online
Delivery method: Group Internet Based
Attendance Requirement: Yes
Session Duration: 90 Minutes
Who Will Benefit:
CPA
Enrolled Agents (EAs)
Tax Professionals
Attorneys
Other Tax Preparers
Finance professionals
Financial planners
About Our Speaker
Michael Miranda
Bringing 47 years of experience with tax consulting, estate planning, and employee benefits to his work as an independent consultant, Michael is the owner of MIRANDA CPA & Consulting LLC in Sioux Falls, SD. His tax practice focuses on corporate, individual, estate and gift, and tax accounting. He also provides employee benefit planning and consultation services for qualified, non-qualified, and health and welfare benefit plans. As part of his IRS representation practice, Michael has worked with the National Office to obtain private letter rulings and exempt organization determination letters for clients, in addition to numerous EPCRS submissions and audits. As a nationally recognized tax speaker, he maintains an active schedule presenting webinars and seminars on tax law, employee benefit planning, and estate planning.
