Tax Planning for Marriage and Divorce (Completed)

This course will discuss the income, estate, and gift tax consequences of marriage and divorce—including the effects of pre-nuptial agreements on preexisting tax debt and the taxation of income from separate property assets. It also addresses tax traps that may be encountered in property settlements, the sale of the principal residence, and the payment of child support and alimony.

The course will also discuss the problems encountered in dividing closely held businesses, IRA and qualified plans, stock options, and deferred compensation in divorce. It will also cover the relief available from joint and liability for the filing of joint income tax returns.

Topics Covered

• Income, estate, and gift tax consequences of marriage and divorce
• Tax traps that may be encountered in property settlements, the sale of the principal residence, and the payment of child support and alimony
• Problems encountered in dividing closely held businesses, IRA and qualified plans, stock options, and deferred compensation in divorce
• Relief available from joint and liability for the filing of joint income tax returns

Learning Objectives

• Recognize how to explain effects of pre-nuptial liability on tax debts and taxation of income from separate property assets
• Identify income, estate, and gift tax consequences of divorce
• Recognize tax traps that may be encountered in property settlements
• Identify problems in dividing closely held businesses, IRA and qualified plans, stock options, and deferred compensation

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None