Course Description:
This course is for 2 hours. It is a common misconception that estate planning is only for wealthy individuals with high-value assets. However, nearly all people have some sort of estate when they pass. This makes it crucial for a tax preparer to have basic knowledge of estate planning. Further, estate planning and tax planning go hand in hand. The best plan is formulated by a team of professionals working together, including attorneys, financial advisors, and accountants. Unfortunately, the average person does not have a team of professionals at their disposal. Tax-saving strategies can easily be overlooked when a professional is not educated in all areas. This presentation will cover the basic estate planning concepts for tax preparers so they may better approach estate planning situations as they arise.
The learning objectives for this course are:
- Grasp the basic concepts of estate planning.
- Utilize knowledge of federal estate and gift tax issues to strategize with their clients.
- Approach Form 1041 with ease.
- Give reasonable future expectations for one’s estate.
This course counts for 2 hours of IRS CE under Federal Tax Law Related Matters.
About the Presenter:
Roman Basi is the current President of The Center for Financial, Legal & Tax Planning, Inc. Roman is an Attorney, a CPA, Managing Real Estate Broker, Title Insurance Agent, and an instrument-rated private pilot. Roman is also one of the Tax Course Instructors for the Internal Revenue Service’s Annual Filing Season Program for Tax Return Preparers throughout the United States. Roman is admitted to practice in Illinois, Florida, Arizona, Missouri, the Federal District Court of Illinois Southern District, the United State Court of Appeals for the 7th Circuit, and Roman is also admitted to practice in the United States Supreme Court being sworn into the highest court in the summer of 2015 in front of all nine Supreme Court justices.
