Children of All Ages: Comprehensive Planning Techniques

Course Details

Date

Saturday, July 25, 2020

11:00am – 12:52pm

Field of Study

Taxation

Course Number

AC0163

CPE Credit

2.2 hours CPE credit

Level of Knowledge

Intermediate

Vendor

ACPEN

Prerequisites

None

Description

In light of the new Tax Cuts and Jobs Act, this course offers practitioners new planning techniques with regards to children. Many clients who are parents are unsure of how to navigate dependency exemptions due to foreseen and unforeseen changes in their lives. What are clients’ options when they marry a person who has children from a prior relationship? What happens should those parents then divorce? Can the stepparent still claim the children as dependents? And if not, what options are available to the stepparent instead?

 

This course provides practitioners with the latest and most up-to-date rules to assist clients in navigating the entities that affect child dependency, the factors that influence those entities, and planning techniques so each parent is prepared for tax season.

 

**Please Note:  If you need credit reported to the IRS for this IRS approved program (2 hours only), please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Highlights

  • Learning tax rules as they pertain to claiming children as dependents in varying degrees of life circumstances i.e., birth children, adopted children, and stepchildren
  • Learning the factors that affect dependency such as divorce and issues of custody
    • Dependency Exemption
    • Head of Household Status
    • Earned Income Credit
    • Child Tax Credit
    • Child Dependent Care Credit
  • Navigating options to which parents are entitled when they are unable to continue claiming children as dependents as a result of divorce
    • Form 8332
  • Understanding the definition of a qualified child and learning the 5 tests of qualifications
    • Child’s relation to taxpayer
    • Age
    • Child’s location and length of residency with taxpayer
    • Child support
    • Joint return restriction

Objectives

  • List new tax guidelines and identify the related factors as they pertain to child dependency laws
  • Discuss options parents have regarding claiming dependents
  • Explain the most beneficial courses of action when filing

Designed For

CPAs, EAs, and other financial professionals

Registration for this course has passed.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$79.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$109.00
Your Price $109.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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