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Free cpece webinars
Income Tax Elections for Estates

INCOME TAX ELECTIONS FOR ESTATES

Cost Free
Presentation Length 1.0 hour

Recorded DateMarch 18, 2025
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Series: Estate Planning
Course Description

This webinar will explore underutilized elections, deductions, and strategic planning opportunities for estate income tax returns. Participants will examine various key topics, such as the choice of fiscal year analysis, the IRC 645 Election for qualified revocable trusts, and the nuances of IRC 663(b), IRC 643(e)(3) and IRC 691(c) elections. 

Attendees will analyze how to effectively utilize expenses on estate tax returns versus estate income tax returns. The session will also explore the often-missed complexities of income tax and portability planning. Join us for an overview and discussion on these essential tools, which can empower practitioners to better serve their clients in navigating estate income tax returns.

Learning Objectives:


  • Identify various tax planning elections available for estate income tax returns

  • Recognize the importance of discussing the portability election with executors

  • Describe the deduction for estate taxes paid on income in respect of a decedent (IRC 691(c))

  • Evaluate whether certain deductions should be applied to the estate tax return or the estate income tax return
     

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE

Martin Shenkman

Shenkman Law
Dual Practitioner, Financial Planner
[email protected]
(201) 845-8400

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Martin M. Shenkman, CPA, MBA, PFS, AEP (distinguished), JD, is an attorney in private practice in Fort Lee, New Jersey, and New York City, New York, with Shenkman Law. His practice focuses on estate and tax planning as well as planning for closely-held businesses and estate administration. Throughout his career, Mr. Shenkman received awards and acknowledgments from the New Jersey Bar Association, Worth Magazine, CPA Magazine, the American Cancer Society, and the AICPA. Mr. Shenkman holds a Bachelor of Science from the Wharton School at the University of Pennsylvania, an MBA from the University of Michigan, a law degree from Fordham University School of Law. He is admitted to the bar in New York, New Jersey, and Washington D.C.

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Christine G. Pronek is a Principal at WilkinGuttenplan. Christine specializes in estate planning and estate, trust and gift tax compliance. A Certified Public Accountant with over twenty-five years in public accounting and three years with the Internal Revenue Service, she has experience in all areas of taxation.

Christine is a member of the American Institute of Certified Public Accountants and New Jersey Society of Certified Public Accountants (NJSCPA). An accounting graduate of Quinnipiac University, Christine holds a Masters of Science in Taxation degree from Fairleigh Dickinson University.

About Our Presenter

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Shenkman Law is a boutique firm focused on the legal needs of high-net-worth individuals, professionals, close business owners, and real estate owners and developers. They provide creative legal solutions to help clients meet complex or seemingly contradictory personal, business, financial, and tax goals, and pride themselves on treating clients with thoughtful care—just like members of our own families.