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As a tax practitioner, you may have contemplated adding personal financial planning services to your practice. There is a natural progression to go from being your client's most trusted tax advisor to also being their most trusted personal financial advisor. But you have questions: will it be profitable? How do I get started? What are other CPA firms doing? All of these questions are addressed in a new research study published by the AICPA's PFP Section that can show you how to expand your services into this lucrative niche area that is a great compliment to your tax practice.

The Personal Financial Planning Section of AICPA and Moss Adams LLP are pleased to announce the results of their first joint study of CPA financial planning and advisory practices- AICPA/Moss Adams CPA Financial Planning Practice Study.

Click here for more information

 
Tax Home > Resources > Trust, Estate and Gift > Generation Skipping Tax

Generation Skipping Tax

This section includes guidance on the generation skipping tax.

AICPA Asks for Simplified Extension Procedure to Elect Out of Automatic GST Allocation

June 26, 2007. This letter requests IRS provide a simplified procedure to obtain extension of time to elect out of the automatic allocation of GST exemption to indirect skips, similar to Rev. Proc. 2004-46. Learn More>>

 

AICPA Asks for Guidance on GST Allocation at the End of the ETIP

June 26, 2007. This letter requests IRS guidance on the allocation of GST exemption to a trust at the end of the estate tax inclusion period (ETIP) or electing out of the automatic allocation rules at the end of the ETIP. Learn More>>

Sample Notice of Late Allocation of GST Exemption and Sample  GST Exemption Allocation

These tools provide a sample transmittal letter for timely or late allocations, sample notice of late allocation of GST exemption, and sample GST exemption allocation language. They should provide a basic framework for communication with your clients and IRS. Learn More>>  

Generation-Skipping Transfer Tax Supplement

Used in conjunction with the Form 706 and Form 709 Checklists, this supplemental guide includes a sample transmittal letter (for timely or late allocation), a sample notice of late allocation of GST exemption, and a sample GST exemption allocation language meant to provide a basic framework for communicating with your client and the IRS. Learn More>>  

Generation-Skipping Transfer Tax

This presentation on generation-skipping transfer tax is from the National Conference on Federal Taxes, which was held on November 11, 2003. Learn More>>