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Divorce Tax Planning

 Divorce Tax Planning
CPE Credit

Program Type: Recorded Webinar (Audio, PPT)
Program Level: Overview
Prerequisites: None
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: Two (2) Hours
Fields of Study: Accounting
Item Number: 14PFF0522
Shipping Weight: 0lbs. 0oz.
Price: $110.00
Program Description

This webinar examines specific strategic tax issues in divorce and how to implement them as well as issues involving filing status and exemptions. Some of the topics that will covered in this webinar include property transfers, settlements, and asset divisions; issues involving the family residence; calculation of income for alimony and child support; division of business interests and retirement plans; plus other basis allocations.

The webinar examines some strategic tax issues in divorce and how to implement them. Selected topics include:

- Property transfers, settlements, and asset divisions
- Calculation of income for alimony and child support
- Filing status, and exemptions
- Division of business interests
- Basis allocations
- Division of Retirement Plans
- Issues involving the family residence

Learning Objectives

After completing this webinar, attendees will be able to:

- List critical tax implications to review and consider when going through a divorce
- Identify key issues of MFS vs. MFJ vs. HOH filing status, what items to report, what possible penalties and result
- Define what is a "qualified child" for the IRS
- Name the three requirements that must be met for the noncustodial parent
- Name three forms of property identifying their likely division in marital property settlement
- Identify the requirements for Sec. 1041 and how to apply it to property transfers where the transferee has liabilities
- Determine property basis and potential tax liabilities under Sec. 1041
- Describe the home sale exclusion requirements and common disposition methods
- Determine effects of purchasing property interest used in a business or held for investment and potential recapture
- Determine the tax treatment of installment sales in divorce
- Describe methods for dividing retirements, including qualified domestic relations orders (QDROs)
- Describe pension benefits that may be available to a former spouse
- List tax strategies for retirement planning after divorce
- Define Alimony under Sec. 71, including alimony recapture
- Distinguish child support from alimony
- Determine income for alimony and child support
- Describe techniques used to recharacterize deductible alimony as nondeductible
- Analyze alimony trusts to determine tax advantages

Who Should Attend

CPAs, practitioners, attorneys


Elizabeth Carlson, CPA, CFP, CVA, CFF
Ms. Elizabeth "Liz" Carlson is a full time faculty member at USF Sarasota-Manatee. She also has a consulting practice in Sarasota, Florida, providing tax and forensic accounting services to both individuals and businesses. Her specialty is litigation support, primarily in divorce.

Ms. Carlson received her bachelor and master of Accounting degree from the University of Florida, School of Accounting. She has been in public practice for 33 years.

She is a Certified Public Accountant, Certified Financial Planner™, Certified in Financial Forensics, and a Certified Valuation Analyst. She has worked for Hill, Barth & King; Mauldin & Jenkins; Ernst & Young; and Arthur Andersen.

Liz teaches various accounting topics as a professor at USF and taught tax topics with Arthur Andersen's International Specialty Tax School in St. Charles, Missouri. She has authored several papers and presented numerous speaking engagements for various organizations.

She is a member of the American and Florida Institute of CPAs, National Association of Valuators and Analysts, and is active in her community.