Tax Basis 101 for Estate Planning Paralegals
Credits Available
| Credit | Status | Total |
|---|---|---|
| California MCLE Paralegal |
|
1 Total |
| Delaware Certified Paralegal Program |
|
1 Total |
| Florida Registered Paralegal |
|
1 Total |
| Indiana Paralegal CLE |
|
1 Total |
| NALA |
|
1 Total |
| Montana CLE Credit for Paralegals |
|
1 Total |
| North Carolina Continuing Paralegal Education |
|
1 Total |
| New Mexico Paralegal Division, State Bar of |
|
1 Total |
| Ohio Certified Paralegals |
|
1 Total |
| NFPA |
|
1 Total |
| Texas State Bar of Paralegal Division |
|
1 Total |
| Washington Paralegal Association |
|
1 Total |
Register For Course
Live Webinar Registration
OnDemand Video
Video Download
Course Book Download
or
Overview
Build Tax Basis Skills That Keep Estate Plans Accurate and Audit Ready
Understanding tax basis is critical to planning asset disposition, minimizing tax burdens, and ensuring compliance in estate planning and administration. Do you know how it works? This practical course provides essential knowledge of tax basis concepts, focusing on the critical tasks paralegals perform to support attorneys and CPAs. Learn how to identify, gather, calculate, and document tax basis information for estate assets, as well as how to assist in preparing required tax forms and schedules. Emphasis is placed on real-world applications, efficient recordkeeping, and best practices for collaboration within the estate planning team. Learn the ropes - register today!
- Ensure accuracy of client and property information to support basis calculations and tax compliance.
- Assist in determining correct tax basis in gifted and inherited assets.
- Adopt best practices for tracking original costs, improvements, and sales.
- Improve communication and workflow with attorneys and CPAs to facilitate seamless estate plan execution.
Abbreviated Agenda
- What Is Tax Basis? Key Concepts and Terminology, Property Types
- Obtaining Basis Information: Client Intake Forms, Requesting Supporting Documents
- Calculating Basis: Acquired vs. Inherited Property, Fair Market Value (FMV), Adjustments
- Estate Planning Effects on Basis (Trusts, Marital Deduction Planning, Sale of Assets, etc.)
- Recordkeeping and Reporting Beneficiary Information (Form 8971)
- Preparing Supporting Schedules for Tax Returns (e.g. Schedule D for Capital Gains/Losses)
- Collaborating With Attorneys and CPAs
Credit Details
Credits Available
| Credit | Status | Total |
|---|---|---|
| California MCLE Paralegal |
|
1 Total |
| Delaware Certified Paralegal Program |
|
1 Total |
| Florida Registered Paralegal |
|
1 Total |
| Indiana Paralegal CLE |
|
1 Total |
| NALA |
|
1 Total |
| Montana CLE Credit for Paralegals |
|
1 Total |
| North Carolina Continuing Paralegal Education |
|
1 Total |
| New Mexico Paralegal Division, State Bar of |
|
1 Total |
| Ohio Certified Paralegals |
|
1 Total |
| NFPA |
|
1 Total |
| Texas State Bar of Paralegal Division |
|
1 Total |
| Washington Paralegal Association |
|
1 Total |
Select Jurisdiction
Paralegal
Agenda
-
Tax Basis 101 for Estate Planning Paralegals
- What Is Tax Basis? Key Concepts and Terminology, Property Types
- Obtaining Basis Information: Client Intake Forms, Requesting Supporting Documents
- Calculating Basis: Acquired vs. Inherited Property, Fair Market Value (FMV), Adjustments
- Estate Planning Effects on Basis (Trusts, Marital Deduction Planning, Sale of Assets, etc.)
- Recordkeeping and Reporting Beneficiary Information (Form 8971)
- Preparing Supporting Schedules for Tax Returns (e.g. Schedule D for Capital Gains/Losses)
- Collaborating With Attorneys and CPAs
Who Should Attend
This basic level course will teach attendees how to effectively handle the paralegal duties associated with taxation of trusts and estates. Those who should attend include:
- Paralegals
- Legal Technicians
- Legal Assistants
- Legal Support Staff
Speakers
Speaker bio
Lia Smietanski
is an attorney at Levenfeld Pearlstein, LLC. She assists clients with the implementation of estate planning strategies, including drafting wills, revocable trusts, powers of attorney for healthcare and property, living wills, real property deeds, and opening and closing pleadings. Ms. Smietanski earned her Tax Certificate and J.D. degree, magna cum laude, from Loyola University Chicago School of Law and her B.A. degree, summa cum laude, from Loyola University. During law school, she served low-income taxpayers at the Loyola Federal Income Tax Clinic.
Top FAQs
When you enroll prior to the live event date you will receive access to the live-streaming webinar which will allow you to interact with faculty in real-time.
With each course, you will receive access to the content via OnDemand Streaming and the Video Download.
Course reference materials are included with each course purchase in a downloadable PDF format.
Courses are available within your account. Simply login to your account and click on My Courses. If you require additional assistance please call our Customer Service Department at 800-793-5274.
Closed captioning is available for all online live courses. Attendees may enable the closed captioning functionality within the event room once they have accessed the event by simply clicking the "cc" button in the lower right of the event room.
Yes, the more people you bring from your organization, the more you save. Please call out Customer Service Department to inquire about savings for your team at 800-793-5274.
The OnDemand Video will be available to stream within 14 days of live broadcast date. You will have access to the content for 6 months in your account.
If you're a subscriber, you'll have access to your course recordings until 7 days after the expiration date of the subscription.
Have more questions? Please Contact Us