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Audio & Reference Manual

Advanced Tax Considerations in Divorce

Discover 8 advanced divorce taxation tips that will help prevent potential tax issues that can occur during a divorce.

Many divorce attorneys and forensic accountants who are involved in marital settlement agreements and complex litigation are not familiar with how to convert interest on an equitable distribution payment to alimony and are not familiar with the rules related to innocent spouse and other tax related issues to be considered in marital settlement agreements. This topic will help you with tax planning ideas related to marital settlement agreements and complex litigation. Converting interest into alimony, determining the time to file for innocent spouse relief and assist in negotiating complex tax issues in marital settlement agreements will also be discussed.

Runtime: 93 minutes
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Divorce Statistics

Tax Tip #1 - How to Allocate Capital Gains on Sale of Real Estate

  • IRC Section 1041
  • Sale of Real Estate Owned by a Partnership, LLC or S Corporation
  • Sale of Principal Residence

Tax Tip #2 - How to Convert Interest to Alimony on Equitable Distribution Payments Between Spouses

  • Internal Revenue Code 71 /Alimony (Deductibility) Basics
  • Payments to Support Children
  • What If Tax Returns Don't Match?
  • Front Loading Rules
  • Temporary Support
  • Unallocated Support
  • Lump Sum Alimony
  • Steps to Treat Interest as Alimony
  • Issues Related to Interest as Alimony

Tax Tip #3 - Injured Spouse vs. Innocent Spouse

  • Is Your Client an Injured Spouse?
  • Is Your Client an Innocent Spouse?

Tax Tip #4 - Reminder on Filing Status

Tax Tip #5 - You Can Amend Tax Return to Married Filing Jointly

Tax Tip #6 - the Dependency Exemption

  • Dependency Exemption
  • Tax Savings
  • Head of Household
  • Child Tax Credit
  • Dependent Care Credit

Tax Tip #7 - Transfers of Retirement Accounts

  • Distributions From Qualified Retirement Plans
  • QDRO
  • IRA Transfers

Tax Tip #8 - Income Tax Indemnification

  • Without Prejudice
  • Agreement to File Jointly - Cross Indemnification
  • Agreement to File Jointly - One Party Indemnifies Other Party
  • Other Issues
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on February 15, 2016.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • CAC 0.5
     
  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.7
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.75
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Philip J. Shechter, CPA/ABV, CVA

Philip J. Shechter, CPA/ABV, CVA

Cherry Bekaert

  • Litigation support partner at Cherry Bekaert
  • Over 33 years of experience in audit, tax consulting, litigation support and business valuation services
  • Qualified as an expert and has provided expert testimony in excess of 750 times in state and federal courts related to commercial litigation and family law engagements, regularly appointed as receiver in state court
  • Conducts seminars to Miami-Dade County Family Law Judges and General Magistrates regarding his role as a forensic accountant
  • Written numerous articles including one recently for the AICPA regarding his role as a neutral forensic accountant
  • Licensed as a Certified Public Accountant in the state of Florida
  • Member of the AICPA, FICPA, NACVA, Institute of Business Appraisers, Association of Certified Fraud Examiners, Baker Tilly International (litigation support and consulting subcommittee) and the Family Inns of Court
  • B.S. degree in accounting, University of Florida
  • Can be contacted at 786-693-6300 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 396613
Published 2016
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