Tax Law

1. Special Topics in Tax Law
   1. Estate and Gift Taxation
      1. Concepts and Definitions
         1. Definition of estate tax
         2. Definition of gift tax
         3. Distinction between estate tax and inheritance tax
      2. Estate Planning Techniques
         1. Trusts and their tax implications
            1. Revocable trusts
            2. Irrevocable trusts
         2. Lifetime gifting strategies
         3. Valuation methods
            1. Fair market value assessment
            2. Discount valuation techniques
         4. Portability of unused exemptions
      3. Regulations and Compliance
         1. Filing requirements
         2. Exemptions and exclusions
            1. Unified credit
            2. Annual gift tax exclusion
         3. Reporting and documentation obligations
      4. Generation-Skipping Transfer Tax
         1. Purpose and applicability
         2. Impact on family wealth transfer
         3. Exemptions and exclusions specific to GSTT
   2. Sin Taxes and Green Taxes
      1. Environmental Taxes
         1. Carbon taxes
         2. Taxes on plastic and waste management
         3. Incentives for renewable energy adoption
      2. Taxes on Alcohol and Tobacco
         1. Rate structures and regulatory frameworks
         2. Public health objectives and outcomes
         3. Economic impacts on affected industries
      3. Other Sin Taxes
         1. Taxes on recreational drugs
         2. Gaming and gambling taxation
   3. Social Welfare and Tax Credits
      1. Earned Income Credit
         1. Eligibility criteria
         2. Calculation and phased reduction
         3. Impact on low-income taxpayers
      2. Child Tax Credits
         1. Qualified child definition
         2. Credit amounts and phase-out thresholds
         3. Advanced payment options and reconciliation
      3. Education and Childcare Credits
         1. Education-related credits
            1. American Opportunity Credit
            2. Lifetime Learning Credit
         2. Child and dependent care credits
   4. Taxation of Nonprofit and Charitable Organizations
      1. Tax-Exempt Status Criteria
         1. 501(c) categories
         2. Application process and compliance
      2. Unrelated Business Income Tax (UBIT)
         1. Definition and examples of unrelated business activities
         2. Exceptions and exclusions
         3. Reporting requirements and penalties
      3. Charitable Contribution Deductions
         1. Donor eligibility and limitations
         2. Valuation of non-cash contributions
         3. Record-keeping and documentation requirements
      4. Impact of Donations on Tax Planning
         1. Deduction strategies for high-net-worth individuals
         2. Planned giving mechanisms (e.g., charitable remainder trusts)