“Gift Tax Strategies”:
- You are a CPA and a wealthy couple engaged you to minimize their estate value. Evaluate the rules regarding gift taxes and recommend a strategy for your client to minimize current and future tax obligations. Support your recommendation with examples.
- Take a position on the fairness of the current gift tax laws and recommend changes you would propose to the law to make gift taxes fairer and/or a rationale for eliminating gift taxes. Provide support for your rationale.
Week 8 Discussion 2
“Gift Tax Advice”:
- You are a CPA and a client engages you to determine how to provide a low-cost loan to their children and avoid paying taxes and mitigate the risk of an IRS audit. Analyze the rules regarding loans and propose a strategy that complies with current tax laws and mitigates the risk of an IRS audit. Support your recommendation with examples.
- The current tax law allows a marital deduction under certain circumstances. Analyze the rules regarding the marital deduction. Based on your analysis, propose what circumstances could cause a marital transfer of assets to be a taxable event. Support your proposal with examples.