This course is a great opportunity to:

• Clarify when and how the new family-owned business exemption is used
• Be sure you’ve picked up every deduction and credit available to you
• Get practical tips about what documentation you should be attaching to your returns and the reasons it matters
• Be updated on all that’s new – safe deposit box policies, farming exception, valuing oil and gas interests, extended period for deferring the reporting of the sale of a house and more.
• Brush up on what is and what is not subject to tax
• Learn ways to avoid getting tripped up on remainder returns and future interest compromises
• Get tips for handling trusts, annuities, mutual funds & other nonprobate assets
• Understand how Schedule O raises potential personal liability implications for executors

 Walk through sample filled-in tax returns

After starting off with a refresher on Pennsylvania inheritance tax law, you’ll walk through a series of examples of inheritance tax returns, from the simple estate to the more complex one. The experienced faculty will guide you through these sample estates highlighting the commonly mishandled items and other issues that can be particularly troublesome.

• No Taxable Asset Estate
• Simple Testate Estate
• Intestate Estate
• Original Return for a Testate Estate with a Suspended
• Asset & Supplemental Return for a Testate Estate for the Supplement Asset
• Complex Testate Estate
• Original Return for a Testate Estate with Partial
• Election
• Litigation Return for Wrongful Death/Survival Action
• Testate Estate with Marital & Residuary Trust