MAA 706 Workshop Including Massachusetts M706

When:  Oct 24, 2017 from 09:00 AM to 05:00 PM (ET)

The estate tax laws continue to change so come and learn how to prepare estate and gift tax returns in this new environment.  We will begin by briefing you on a spectrum of topics from 2017 and beyond such as the changes to the applicable exemption amount for deaths occurring in 2016, 2017 and beyond; a closer look at the importance of a step up in basis in light of the new net investment income tax (NIIT) and how it works; the portability of the estate tax exemption; the adjustment of the generation-skipping tax (GST) to inflation; and the scheduled maximum rate for gifts, estates and GST.  We will also discuss the new basis reporting requirements and filing of Form 8971 as well as the recent changes to the Massachusetts estate tax filing system and releases of the estate tax lien.  Then, using a hypothetical example, we will walk you through schedule by schedule the preparation of a federal and Massachusetts estate tax return along with a brief explanation of the different estate planning documents you may encounter when preparing these returns such as revocable trust, irrevocable life insurance trusts, Medicaid income only trusts, limited liability companies and much more with special attention paid to a joint trust and the application of § 1014(e) to the trust and the possible double step up in basis. So sharpen your pencil and come to this hypothetical-packed session ready to “do the math”. 

CPE Credit Hours: 4

Location

John Carver Inn, Plymouth, MA

Contact

Massachusetts Association of Accountants
781-246-7788
info@maacct.org