Chapter 6: Transfers During Life – Gift Taxation & Strategy

In this section

• Unified Transfer Tax System & Unified Credit Limits
  Gain an in-depth understanding of how the unified transfer tax system seamlessly integrates gift and estate taxes, including current annual and lifetime exclusions, practical examples, best practices, and key strategies for CPA exam success.
• Valuation Techniques & Discounts (Minority, Marketability)
  Explore key valuation methodologies, understand minority and marketability discounts, and learn how these concepts are applied in gift taxation and estate planning.
• Lifetime Gifting Strategies: Grantor Retained Annuity Trusts (GRATs), Crummey Powers
  A comprehensive overview of Grantor Retained Annuity Trusts (GRATs) and Crummey Powers, their mechanics, tax implications, and strategies for effectively transferring wealth—including family business interests—under the U.S. gift tax framework.
• Compliance: Completing Form 709 & Record-Keeping
  Master the intricacies of Form 709, gift tax filings, and thorough documentation procedures to ensure seamless future estate calculations and compliance in the Unified Credit system.