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Law
Tax Law
Special Topics in Tax Law
Estate and Gift Taxation
Concepts and Definitions
Definition of estate tax
Definition of gift tax
Distinction between estate tax and inheritance tax
Estate Planning Techniques
Trusts and their tax implications
Revocable trusts
Irrevocable trusts
Lifetime gifting strategies
Valuation methods
Fair market value assessment
Discount valuation techniques
Portability of unused exemptions
Regulations and Compliance
Filing requirements
Exemptions and exclusions
Unified credit
Annual gift tax exclusion
Reporting and documentation obligations
Generation-Skipping Transfer Tax
Purpose and applicability
Impact on family wealth transfer
Exemptions and exclusions specific to GSTT
Sin Taxes and Green Taxes
Environmental Taxes
Carbon taxes
Taxes on plastic and waste management
Incentives for renewable energy adoption
Taxes on Alcohol and Tobacco
Rate structures and regulatory frameworks
Public health objectives and outcomes
Economic impacts on affected industries
Other Sin Taxes
Taxes on recreational drugs
Gaming and gambling taxation
Social Welfare and Tax Credits
Earned Income Credit
Eligibility criteria
Calculation and phased reduction
Impact on low-income taxpayers
Child Tax Credits
Qualified child definition
Credit amounts and phase-out thresholds
Advanced payment options and reconciliation
Education and Childcare Credits
Education-related credits
American Opportunity Credit
Lifetime Learning Credit
Child and dependent care credits
Taxation of Nonprofit and Charitable Organizations
Tax-Exempt Status Criteria
501(c) categories
Application process and compliance
Unrelated Business Income Tax (UBIT)
Definition and examples of unrelated business activities
Exceptions and exclusions
Reporting requirements and penalties
Charitable Contribution Deductions
Donor eligibility and limitations
Valuation of non-cash contributions
Record-keeping and documentation requirements
Impact of Donations on Tax Planning
Deduction strategies for high-net-worth individuals
Planned giving mechanisms (e.g., charitable remainder trusts)
6. Changes and Trends in Tax Law
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8. Professional Roles in Tax Law