BFS 773 - Tax Law and Tax Planning

This course covers an overview of current tax laws; individual income tax, including exclusions, deductions, net investment income, Alternative Minimum Tax (AMT) and the decedent’s final 1040; fiduciary income tax, including trust and estates as taxable entities, basis, gain and loss, income in respect of a decedent, and the effects of a distribution; income taxation of charitable entities, private foundations and split-interest trusts; federal estate and gift taxation, valuations, the marital deduction and tax liability; generation-skipping transfer tax, including computation and liability; effective planning for marital trust, Generation Skipping Tax (GST), retirement benefits and the closely-held business; and, ethics in preparation for the national Certified Financial Trust Advisor (CFTA) exam and certificate. 3 credits