Course Individually
Course Description
Gifts are a commonly used method to reduce the amount of estate taxes owed. The Tax Cuts and Jobs Act made changes the affect gift taxes. This course has been updated to reflect all current changes to tax law as practitioners prepare returns in 2024. This course will explore the topic of gift taxes. It will explain when gifts are free of tax liability and identify various scenarios where filing a gift tax return is required.
NOTE - This is a Video Self-Study Course
Learning Objectives
Upon successful completion of this course participant should be able to be complete the following objectives:
- Describe what financial transactions constitute a gift,
- Recognize when a gift transaction is completed,
- Identify the annual gift exclusion amount,
- Differentiate between present interest and future interest gifts,
- Recognize the types of gifts that are not subject to gift taxes,
- Recognize the benefits of gift splitting,
- Identify the form that is used for Gift Taxes and the due date for submitting it.
CPE Credits: 3 CPE for CPAs
Level: Intermediate
Instructional Method: Self-Study
NASBA Field of Study: Taxes
Program Prerequisites: None
Advanced Preparation: None
Revision Date: March 20, 2024
