Income Tax Planning


Income Tax Planning explains the steps in computing taxable income and the exceptions and rules for calculating each component of the computation. This course describes how certain expenses are used as deductions when arriving at taxable income, and how to compute the alternative minimum tax. It examines the tax considerations associated with capital gains and losses. This course also defines gross income and provides examples of exclusions from gross income. This course describes the benefits of gifting alternatives available to clients to shift income. It provides a definition of passive activity and how passive activity tax situations are treated. This course also explains the advantages of tax credits. This course explains how estimated tax is calculated and treated and the considerations regarding a decedent’s final tax return.


Audience: Trust officers with at least three years of personal trust experience who need a deeper understanding of technical trust concepts and how solutions work when applied to client needs.


Learning Objectives: After completing this course, students will be able

  • Explain the components associated with computing income tax
  • Define gross income
  • Describe gifting techniques used to avoid or minimize income tax
  • Identify the tax-saving planning options available for your clients