Learn to navigate tax ramifications in divorce cases, avoid pitfalls, and analyze assets to protect clients during distribution and settlements.
Most divorce cases have significant tax ramifications to your client. This topic provides the skills to identify them before they create a problem for you and your client at settlement. We will begin with the recent changes to the tax law and provide a key road map in navigating the numerous pitfalls that may appear in your case. Whether it is when your client may qualify for innocent spouse relief or how to identify the potential for alimony recapture we will teach you analytical thinking as it relates to equitable distribution and identify the potential taxation of certain property as well as an overview of how to identify which assets need further analysis.
Learning Objectives
- You will be able to review dependency deductions and credits.
- You will be able to discuss signing vs. non-signing of joint tax returns.
- You will be able to explain IRAs and retirement accounts.
- You will be able to identify business valuations.
Agenda
Critical Topics in Taxation for Family Law
- Taxation of Support
- Lump Sum Alimony and Equitable Distribution
- Taxability of Undifferentiated Support
- Taxation of Alimony and Child Support (Recapture?)
- Dependency Deductions and Credits
- Filing Status - Divorced or Separated Individuals (Head of Household); Same-Sex Marriage
- Signing vs. Nonsigning of Joint Tax Returns
- Deductibility of Interest on Debt in Equitable Distribution
Assets and Liabilities
- Valuation Dates
- Income vs. Cash Flow
- IRAs and Retirement Accounts
- Defined Benefit
- Defined Contribution
- Cash Surrender Value Life Insurance
- Loans and Notes Receivable
- Stock Options
- Litigation Loans
- Income Tax Refunds/Balance Due
- Business Valuations
- Standard of Value
- Valuation Methodology
- Market Approach
- Income Approach
- Asset Approach
Speakers
Elgin F. Polo, CPA, ABV, CVA,
Forensic Partners USA, LLC- Founding member of Forensic Partners USA, LLC
- Practice emphasizes all aspects of forensic and valuation services
- Court appointed to assist in resolving some of the most complex issues in divorce cases
- Serves as an expert witness in business valuations and forensic accounting and has testified in various courts in South Florida
- Adjunct professor in accounting at Florida International University and frequent lecturer at various institutions and universities.
- Florida licensed certified public accountant
- Certified as a valuation analyst by the National Association of Certified Valuation Analysts as well as holding the accreditation in business valuations from the American Institute of Certified Public Accountants
- M.B.A. Degree, with a concentration in taxation, University of Miami; B.S. Degree in accounting, Binghamton University
Who Should Attend
This live webinar is designed for accountants, CPAs, controllers, attorneys, presidents, vice presidents, business owners and managers, CFOs, tax managers, estate and financial planners, bookkeepers, and tax preparers.
