Tax Planning Strategies for Family Groups (TAXF)

Claudia Hill, EA, Jeffrey Jacobs, Esq., Lance Weiss, CPA, CVA, Michael J. Tucker, CPA, LL.M.
  • 3
  • Basic
  • Taxes

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Overview

The Tax Cuts and Jobs Act made many changes to the Internal Revenue Code that impact families in a variety of ways. Because the new law enacted so many tax benefits for families, tax practitioners must understand and be able to apply these changes to effectively advise their clients. This program summarizes the major changes impacting families and minors. The panelists will discuss planning strategies families can implement to address these changes in the most effective way. 

Major Topics:

  • Increase in the child tax credit and additional child tax credit
  • Credit for other dependents
  • The increased standard deduction and loss of the personal and dependency exemptions
  • Changes to the kiddie tax
  • Section 529 plan changes
  • New strategies for disability and special needs planning with 529A ABLE accounts
  • Forgiveness of student loans
  • Repeal of the alimony deduction
  • Sale of life insurance and viatical settlements

Learning Objectives

Discuss with individual and family clients the Tax Cuts and Jobs Act changes that impact them

Tax practitioners who anticipate advising individual clients with respect to the family and individual tax changes brought about by the Tax Cuts and Jobs Act

A basic understanding of the tax rules relating to individual income tax

None

Yes

Yes

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