Not everyone who gets married stays married. There is even an increasing trend in divorces occurring after age 60. Often, the tax advisor is in the thick of settlement negotiations and the aftermath of complex and tense decisions. This program provides comprehensive coverage of those issues a tax advisor must know in order to serve clients who are terminating (or planning to terminate) marriage relationships. Participants will learn how to work with clients and their attorneys to maximize after-tax cash available for allocation to assure appropriate recognition of value in marital assets, draft convincing settlement proposals and present information to mediators and judges.
• Identify opportunities for tax savings in divorce settlements
• Analyze accounting and tax issues in divorce proceedings
• Avoid common errors that have adverse tax consequences both during and after divorce proceedings
• Determine the rights of divorcing spouses in benefit plans
• Prepare exhibits for settlement negotiations
• Explain federal income tax rules on alimony, child support, and property settlements clearly to mediators, judges, and occasionally attorneys
• Apportion joint items to separate returns
• Lawyer’s concept of advocacy versus cooperation on tax issues
• Identification of marital assets
• Valuation of closely-held business interests
• Typical pre-divorce tactics by people trying to obscure the facts or hide assets
• “Hidden” after-tax asset values
• Marital home and the Section 121 exclusion
• Tax treatment of alimony, child support, property division, and transfers
• Qualified Domestic Relations Orders (QDRO)—allocations of qualified plan benefits and/or assets
Tax practitioners who want to provide valuable services as advisors and expert witnesses in divorce proceedings. May also be suitable for public practice.
General tax knowledge.
This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.