Nuances of Gift Tax Returns
Proper gift tax reporting is essential to start the statute of limitations, allocate GST exemption, and utilize annual exclusions on reported gifts. Although Form 709 is relatively short, it has many nuances related to skip and non-skip persons, present and future interests, and trusts as recipients to name a few.
Many clients have made gifts in the uncertainty of the estate tax environment in 2021. This is a great time to review the details of proper reporting. Come with your questions and experiences so we can all learn more together.
Ronda Gardner, Gardner Estate & Trust CPA LLC
Ronda Gardner is a Certified Public Accountant with over 30 years of experience in accounting and taxation. She has worked for small and mid-sized accounting firms and previously had her own CPA firm in Orem, UT. She now owns Gardner Estate & Trust CPA LLC, a firm in Cedar City, UT, specializing in estate and trust taxation, accounting, and administration. She has spoken about trusts at various Estate Planning Council meetings and CPA meetings in Utah.
Ronda graduated Cum Laude and Phi Kappa Phi from Brigham Young University with a BS in Accounting. She is the past president of the Southern Utah Estate Planning Council and past treasurer of the Utah Valley Estate Planning Council. She is the widowed mother of six children and step-mother of seven more. (The Brady Bunch had it easy!) She and her husband, Dean, have 35 grandchildren.
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