Foundations of Tax - Course 2 (Canadian)

  • 14 Lessons

Instructors

Kirby Rosplock

Kirby Rosplock (Ph.D.)

Born into a very successful enterprising family, Kirby learned family wealth basics the way most affluent offspring do (or don’t) Read More

About Course

This course focuses on the taxes that specifically impact estates, trusts, and wealth transfers. The origins of these taxes are explored as well as their intentions. Read More

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Overview

  • Goals

Taxation and Trusts Overview

  • Wealth Transfer Taxation System

  • Origins of Wealth Transfer Taxes

  • The Burden on Heirs When Settling the Estate

Understanding Estate Taxes

  • Federal Estate Tax

  • Mini Case: Joe and Sandy Green’s Estate Tax Planning

  • State Estate and Inheritance Tax

Understanding Generation-Skipping Taxes

  • Generation-Skipping Transfer Tax

Understanding Gift Taxes

  • Federal Gift Tax

  • Gift Tax Payees, Rates, and Exclusions

  • Ways to Reduce Federal Estate Taxes

  • The Gift Tax and Trusts

Other Taxes on Trusts

  • Income Taxation of Grantor Trusts

Conclusion

  • Wrap Up

Test Your Knowledge

  • Quiz Locked

This course focuses on the taxes that specifically impact estates, trusts, and wealth transfers. The origins of these taxes are explored as well as their intentions. Taxes for beneficial owners are more complex than for most Americans. With an understanding of these taxes and one’s beneficial asset holdings, beneficiaries can work more productively with their trust advisory team. To this end, students will begin to learn about the tax landscape they face and how to take a more strategic approach through tax planning.

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