Home
0
Home
Use Landscape to see Search/Filter
Item Types:
Field of Study:
Authors:
CPE Hours:
Keyword:
Hide left panel Collapse Menu
Show left panel
Recent Searches
No recent searches found.
A~B
Similar Courses
A/B
Suggested Courses
Recent Searches
No recent searches found.
Similar Courses
Suggested Courses
Course Details

Assets, Income and Cash from a Tax Perspective (Course Id 100)

Updated / QAS / Registry / EA
  Add to Cart 
Author : Danny C Santucci, JD
Course Length : Pages: 146 ||| Review Questions: 90 ||| Final Exam Questions: 80
CPE Credits : 16.0
IRS Credits : 16
Price : $125.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents
Technical Designation: Technical
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 100

Description :

This presentation integrates federal taxation with overall financial planning. The course will explore financial tax strategies relating to the central tactics of wealth building, capital preservation, and estate distribution. The result is a unified explanation of tax economics that will permit the tax professional to locate, analyze, and solve financial concerns. Designed to improve the quality of services to clients and the profitability of engagements, this program projects the accountant into the world of financial planning. This course will give the participant practice in analyzing problems, developing solutions, and presenting final personal financial plans to clients. The emphasis is on practical simplicity in dealing with the self-employed and highly compensated individual. 

Usage Rank : 15000
Release : 2023
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 12-Oct-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 100

Keywords : Taxes, Assets, Income, Cash, from, Tax, Perspective, cpe, cpa, online course
Learning Objectives :

As a result of studying each assignment, you should be able to meet the objectives listed below each assignment.

ASSIGNMENT       SUBJECT
Chapter 1                Financial Tax Planning

       At the start of Chapter 1, participants should identify the following topics for study:

    * Goals v. purposes
    * Investment purposes
    * Myths of retirement
    * Investment goals
    * Investment needs of five critical decades
    * Investment vehicles & entities
    * Retirement - the ultimate objective
    * Retirement costs & income needs
    * Retirement plan development
    * Basic planning elements
Learning Objectives:

       After reading Chapter 1, participants will be able to:
    1. Identify short-term financial goals and investment purposes, recognize the importance of defining, listing, and prioritizing realistic goals specifying how investing allocation changes with age.
    2. Determine the tax consequences of title holding methods by:
      a. Specifying ways to hold title to assets starting with the simplest and most direct way to hold property;
      b. Cite the tax benefits and drawbacks of co-tenancies, corporations (both C & S), partnerships, qualified retirement plans, and trusts particularly as they relate to a client's after-tax investment return; and
      c. Identifying custodianship under the uniform acts and determining how an estate can be tax beneficial to taxpayers.
    3. Recognize the impact of retirement planning postponement identifying the importance of early planning using the author's suggested step process, specify a balance sheet method to plan retirement, determine how to diversify portfolios by balancing liquid and nonliquid assets, and identify the purpose of savings and strategies to save.
ASSIGNMENT       SUBJECT
Chapter 2                Building an Estate

       At the start of Chapter 2, participants should identify the following topics for study:

    * Types of income
    * Information reporting on taxable income
    * Rules of budgeting
    * Cash
    * Acquisition
    * Assets
    * Rules of management
    * Managing risk
    * Taxes
    * Leverage
Learning Objectives:

       After reading Chapter 2, participants will be able to:
    1. Identify money management specifying income types, recognize causes of increased taxable income for itemizing taxpayers, and specify taxable income types and their proper reporting.
    2. Determine the distinctions between tax-free municipal bonds from fringe benefits in generating tax-free income, cite the benefits of tax deferral, and identify tax-deferred investments.
    3. Specify ways to shelter income stating how income sheltering amplifies investment return.
    4. Recognize the budgeting of income into cash by containing expenditures with the author's step process and discretionary income development, identify a client’s negative outlook on budgeting and counter strategies, determine how to convert income into assets by purchasing investments, and specify asset acquisition rules.
    5. Specify tax-advantaged investments citing management rules, and determine the economic impact of accelerating deductions, postponing tax liability, and leveraging.
ASSIGNMENT       SUBJECT
Chapter 3                Preservation of Wealth

       At the start of Chapter 3, participants should identify the following topics for study:

    * Obstacles to preservation
    * Tracking spending
    * Building savings
    * Designing a budget
    * Determining worth
    * Analyzing net worth
    * Ignorance
    * Inflation
    * Taxes
    * Tax planning tactics
Learning Objectives:

       After reading Chapter 3, participants will be able to:
    1. Identify spending habits stating how to design a budget to increase discretionary income, determine net worth using a balance sheet, and select assets and liabilities for an inventory on which to base financial goals.
    2. Specify why individuals should take primary responsibility for investment planning including necessary self-education, determine the allocation of financial resources among investments to maximize return, and recognize the impact of inflation, risk versus return, and basic income tax planning tactics.
ASSIGNMENT       SUBJECT
Chapter 4                Deferral

       At the start of Chapter 4, participants should identify the following topics for study:

    * Elements of like-kind exchanges
    * Related party exchanges
    * Personal & multiple property regulations
    * Delayed (deferred) exchange regulations
    * Actual & constructive receipt rule
    * Qualified contribution plans
    * Tax-deferred annuities
    * Installment sales
    * At-risk rule
    * Deferred compensation and options
Learning Objectives:

       After reading Chapter 4, participants will be able to:
    1. Identify the benefits of tax deferral, recall the former use of tax deferral under §1034, and cite the tax deferral advantage under §1031 listing its elements.
    2. Specify the related party §1031 restrictions identifying prohibited parties or entities and permissible disposition exceptions, cite recommendations for the protection of exchange participants, and recognize the history of the multiple property regulations stating the unique netting requirements for multiple asset exchanges.
    3. Recall the evolution of delayed exchanges naming allowable transfers, determine how to select qualified replacement property, specify constructive receipt safe harbors & methods to secure exchange party performance, cite the §1031 partnership underlying asset rule, identify retirement plan design, identify popular methods for providing for retirement, and select near retirement investments.
    4. Specify the requirements for an installment sale, determine how to elect out of the installment method, identify the variables affecting §453 availability, and determine how to use a property option to receive income and postpone tax.
ASSIGNMENT       SUBJECT
Chapter 5                Reduction

       At the start of Chapter 5, participants should identify the following topics for study:

    * Work Opportunity Credit & Rehabilitation Credit
    * Low Income Housing Credit & Child & Dependent Care Credit
    * Estimated taxes
    * Interest
    * Automobile deductions
    * Business entertainment deductions
    * Depreciation & cost recovery
    * Net operating losses
    * Tax breaks for nonitemizers
    * Amended returns
Learning Objectives:

       After reading Chapter 5, participants will be able to:
    1. Identify tax credits specifying qualified computational expenses, limitations, and restrictions.
    2. Recognize the estimated tax rules and procedures including payment deadlines, underpayment penalties, and the economics of overpaying estimated taxes, and specify the nondeductible interest types.
    3. Determine the deductibility of investment interest, prepaid interest, points, and prepayment penalties recognizing the offset of passive income with rental property mortgage interest.
    4. Identify business vehicle operating costs using (or switching between) the actual cost method or the standard mileage rate, recognize the importance of expense and mileage records, and specify depreciation traps when purchasing a vehicle.
    5. Recall the requirements for business expenses to meet the directly related test, cite the elements of the associated test, identify the business expense statutory exceptions, and recognize the application of R.R. 90-23 and R.R. 99-7 to the deduction of transportation costs to a temporary work location.
    6. Determine business asset depreciation using both ACRS and MACRS recovery classes, identify sources of §172 net operating losses (NOLs) recognizing carryback and carryover rules, specify tax breaks for nonitemizing taxpayers, recognize the advisability of filing an amended return, determine how to avoid audits by claiming refunds for provable items stating which return amendments are safest.
ASSIGNMENT       SUBJECT
Chapter 6                Income Splitting

       At the start of Chapter 6, participants should identify the following topics for study:

    * Using progressive tax rates
    * Deductible business expenses
    * Home-office deduction
    * C or regular corporations
    * S corporations
    * Family partnerships
    * Kiddie tax trap
    * Childcare & education
    * Gifts
    * Interest-free loans
Learning Objectives:

       After reading Chapter 6, participants will be able to:
    1. Recognize formats for income splitting, determine the tax treatment of employee and self-employed business expenses particularly home-office expenses stating the two non-exclusive use exceptions and the income limitation, cite changes made to home office deduction under TRA ’97, and recognize the ability of self-employeds to make annual deductible contributions to a Keogh plan.
    2. Identify the tax opportunities available to an unincorporated business including retirement plans, the hiring of family members, travel expenses, casualty losses, bad debts, and self-employment tax.
    3. Determine the uses and tax characteristics of regular and S corporations by:
      a. Citing circumstances when incorporation is desirable,
      b. Recognizing the taxation of these entities including their ability to split income; and
      c. Specifying initial §351 formation and capitalization issues and identifying appropriate tax form filings for each entity.
    4. Recognize the use of partnerships to split income among partners including the use of §704(e) family partnerships and the consequences of gifting a partnership interest to a child or to another family member.
    5. Identify the use of a custodianship to split income specifying planning considerations and good investments for children, recognize deductions and credits for childcare, education, children, and §7872 loans, and specify the income and later estate tax benefits of gifts.
ASSIGNMENT       SUBJECT
Chapter 7                Elimination

       At the start of Chapter 7, participants should identify the following topics for study:

    * $500,000 home sale exclusion
    * Municipal bonds
    * Divorce & separation settlements
    * Gifts & inheritances
    * Life insurance
    * Fringe benefits
    * Taxation & valuation of benefits
    * Employee expense reimbursement & reporting
    * Social security
Learning Objectives:

       After reading Chapter 7, participants will be able to:
    1. Identify tax elimination techniques by:
      a. Recognizing the current §121 home sale exclusion citing its differences with prior tax law;
      b. Determining qualifications for tax-free state or local obligations including private activity bonds; and
      c. Specifying the tax elimination aspects of family transactions such as gifts, bequests, inheritances, life insurance, and even divorce.
    2. Recognize employer deductions as a means to increase tax-free incentive-based compensation for employees by:
      a. Specifying rules for excluding fringe benefits under §132 and their proper reporting on the W-2; and
      b. Identifying popular employee fringe benefits including employer-paid accident & health coverage, meals or lodging, cafeteria plan benefits, §127 education assistance, achievement awards, group life insurance, and dependent care assistance.
    3. Determine how to value fringe benefits according to IRS regulations, identify how to comply with ERISA requirements, specify the proper reporting of reimbursed and unreimbursed business expenses under accountable and nonaccountable plans, determine the substantiation of auto expenses using a fixed and variable rate, and specify eligible retirement benefits exempt from social security taxes.
ASSIGNMENT       SUBJECT
Chapter 8                Estate Planning

       At the start of Chapter 8, participants should identify the following topics for study:

    * Unlimited marital deduction
    * Applicable exclusion amount
    * Stepped-up basis
    * Basic estate planning goals
    * Simple will
    * Types of trusts
    * Charitable trusts
    * Insurance trusts
    * Family documents
    * Private annuities
Learning Objectives:

       After reading Chapter 8, participants will be able to:
    1. Identify estate planning for business clients by:
      a. Selecting elements of estate tax planning that have remained unchanged by recent legislation;
      b. Recognizing the unlimited marital deduction and its effect on the gross estate of the value of property; and
      c. Specifying the applicable exclusion amounts for various years of death.
    2. Determine the differences between “stepped-up basis” and repealed “modified carryover basis” for estate tax purposes.
    3. Specify estate planning goals and the benefits and drawbacks of the primary dispositive plans.
    4. Identify the various types of trusts, specify family documents that every taxpayer should consider, and determine the advantages and disadvantages of the former private annuity format.
Course Contents :

Chapter 1 - Financial Tax Planning

Comparing Goals & Purposes

Investment Purposes

Purpose #1 - Comfortable Retirement

Myths of Retirement

Plan For 10 to 15 Retirement Years

Stay With One Company to Retire With the Best Benefits

Preserve Capital

Retirees Are Taxed Less

Housing Costs Are Less

Just the Spouse and Me

Medicare Will Cover Medical Bills

Retirees End Up In a Nursing Home

Purpose #2 - Education

Purpose #3 - Family & Personal Stability

Purpose #4 - Enjoyment of Life

Purpose #5 - Commitment

Investment Goals

Find Your Place in Time

“Know Thy Investment Self”

Investment Vehicles & Entities

Individual

Corporate

Trusts

Co-Tenancy

Partnership

Retirement Plan

Custodianship

Estate

Retirement Now - The Ultimate Objective

Defining Retirement

When Do I Want To Retire?

What Kind Of Lifestyle Do I Want?

Do I Want To Move?

Determining Retirement Costs & Income Needs

Developing a Plan

Savings - The 10% Rule

Selected Strategies for Savings

Basic Planning Elements

Chapter 2 - Building an Estate

Assets, Income & Cash

Income

Type #1 - Taxable

Information Reporting on Taxable Income

Payments

Salary & Wages

Interest Income

Dividends

Tax-refunds

Gambling Winnings

Other Income Known to the IRS

Real Estate Transactions

Type #2 - Tax-free

Type #3 - Tax-Deferred

Type #4 - Tax-sheltered

Gifts

Borrowed Money

Gain on Home Sales

IRA Rollovers

Inheritances

Life Insurance Proceeds

Property Settlements

Child Support Payments

Money Recovered For Personal Injuries

Workers Compensation Payments

Disability Payments

Tax Refunds

Municipal Bond Interest

Vacation Home Rental

Children’s Wages

Children’s Investment Income

Scholarships

Budgeting

Rule #1: Expenses - 60%

Rule #2: Taxes - 20%

Rule #3: Savings - 10%

Rule #4: Education - 10%

Rule #5: Keep Your Benefits

Cash

Lifestyle

Emergency Funds

Savings as Deferred Investing

How To Save

Programmed Savings

Tax Savings

Joint vs. Separate Returns

Purchase of Assets

Acquisition

Stay Liquid - Be Able To Get Your Money Back

Grow - Make Money on Your Money

Shelter - Get Tax Benefits

Build - Don’t Spend Your Benefits

Avoid Linking - Each Investment Must Stand On Its Own

Analyze - Investigate the Investment

Assets

Management

Rule #1 - Develop Cash Flow

Rule #2 - Learn To Negotiate

Rule #3 - Manage Risk

Investment Loss

Liability

Poor Health

Premature Death

Rule #4 - Diversify

Rule #5 - Monitor Assets

Rule #6 - Use Systems

Taxes & Investment Economics

Deductions Now, Taxes Later, or Maybe Never

Accelerate Deductions

Taxes

Charitable Contributions

Medical Expenses

Miscellaneous Expenses

Business Expenses

Leverage

Chapter 3 - Preservation of Wealth

Four Obstacles to Preservation

Spending Habits

Track Your Spending

Income

Expenditures

Living Expenses

Fixed

Variable

Credit Card Payments

The Bottom Line

Converting a Minus Into a Plus

Build in Savings

Adjustments

Designing a Budget

What Are You Worth?

Inventory Assets

Cash

Personal Property

Investments

List Liabilities

Analyze Net Worth

Wasting Assets

Liquidity

Diversification

Cash Reserve

Ignorance

Taking Control

Planning Responsibility

Delegation

Asset Allocation - Risk & Return

Inflation

Taxes

Tax Planning Tactics

Chapter 4 - Deferral

Former §1034 - Repealed

Section 1031 “Like-Kind” Exchanges

Exchange Advantage

Importance of Deferral

Three Elements

Exchange Requirement

Two-Party Exchanges

Multi-Party Exchanges

Alderson

Baird

Delayed Exchanges

Qualified Property Requirement

Like-Kind Requirement

Rules of Boot

Related Party Exchanges

Definition of Related Party

Exceptions to the Two-Year Rule

Contractual Protection

Transactions Between A Partner & Partnership

Foreign Real Property Exchanges

Qualified §1031 Exchange of Personal Property Repealed

Requirements for Personal Property - Prior to 2018

Like-Kind or Like-Class

Like-Kind Personal Property - Identical

Like Class Personal Property - General Asset or Product Class

Five, Four, Then Six Digit Product Classes

Other Personal Property

Multiple Asset Exchanges

Exchange Groups

Aggregation & Allocation

Delayed (Deferred) Exchange Regulations

Deferred (Delayed) Exchange Definition

Identification Requirements

Identification & Exchange Periods

Application of §7503

Method of Identification

Property Description

Incidental Property - 15% Rule

Revocation

Substantial Receipt

Multiple Replacement Properties

Actual & Constructive Receipt Rule

Four Safe Harbors

Safe Harbor #1 - Security

Safe Harbor #2 - Escrow Accounts & Trusts

Disqualified Person

Who Is An Agent?

Safe Harbor #3 - Qualified Intermediary

Who Is A Qualified Intermediary?

Direct Deeding

Assignment

Simultaneous Exchanges

Safe Harbor #4 - Interest

Interest Reporting - §468B(g)

Restrictions On Rights to Money & Other Property - “g(6)” Limitations

Outside Transfers of Money or Other Property

Exchanges of Partnership Interests

Effective Date of Partnership Provisions

Retirement Plans

Designing Your Retirement

Sources of Retirement Income

Qualified Corporate Programs

Defined Contribution Plans

Profit-Sharing Plan

Money Purchase Pension Plan

Stock Bonus Plan

Employee Stock Ownership Plan

401(k) Plan

Defined Benefit

Defined Benefit Pension

Annuity Plan

SIMPLE Plans

Self-Employed Plans

Individual Retirement Accounts

Penalty-Free Withdrawals

Roth IRA - §408A

Tax-Deferred Annuities

Mechanics

Types of Deferred Annuity

Fixed Annuity

Variable Annuity

Minimum Investment & Charges

Simplified Employee Pension (SEP) Plan

Investment Assets

Matching Income to Expenditures

Participant Loan Regulations

Additional Loan Requirements

DOL Regulations

Installment Sales

Requirements

Late Election Out of Installment Method

Formula

Mortgage in Excess of Basis

Recapture

Dealers

At-Risk Rule

Application

Nonrecourse Financing

Qualified Nonrecourse Financing

Qualified Persons

Deferred Compensation

Options

Chapter 5 - Reduction

Tax Credits

Work Opportunity Tax Credit (WOTC) – §51

Computation

Welfare-to-Work & Work Opportunity Credits Merged

Certification Trap

Research Tax Credit - §41

Alternative Simplified Credit

Relation to §174 - Repealed

Rehabilitation Tax Credit - §47

Credit Rates

Residential vs. Nonresidential

External Wall Requirement

Basis Reduction

Low Income Housing Credit - §42

Amount of Expenditure

Set Aside Requirement

Qualifying Units

Gross Rent Limitation - 30%

Section 8 Assistance Exclusion

Recapture of Credit

30-Year Rule

State Credit Ceiling

AGI Limitation

Child & Dependent Care Credit - §21

Eligibility

Employment Related Expenses

Qualifying Out-of-the-home Expenses

Payments to Relatives

Allowable Amount

Identification of Provider

Estimated Taxes

General Rule

Annualized Method

Cash-Saving Strategies

Underpayment Cautions

Tax Refund Trap

Basic Deductions

Interest

Personal Interest – Repealed (Gone Long Ago)

Investment Interest

Prepaid Interest

Points

Huntsman Case

Prepayment Penalty

Interest on Real Estate

Rental Property

Home Owners

Automobile Deductions

Employee Automobile Deductions

Business/Personal Proration

Actual Cost Method

Standard Mileage Rate

Limitations on Standard Mileage Method

Must Be an Individual

Switching Methods

Claiming Deductions

Records

Mileage Records

Depreciation Traps

Percentage Test

Depreciation “Recapture”

Depreciation Limits for Autos

Leasing Restrictions

Mileage Allowance for Leased Autos

First-year Expensing - §179

Commuting - Local Business Transportation

Revenue Ruling 90-23 - Superseded

Temporary Work Site Definition

Reserve Units

Reimbursements

Revenue Ruling 99-7

Business Entertainment

Prior to 2018

Former Directly Related Test

Former Associated Test

Statutory Exceptions - §274(e)

Food and Beverages for Employees

Expenses Treated as Compensation

Reimbursed Expenses

Recreational Expenses for Employees

Employee, Stockholder, and Business Meetings

Trade Association Meetings

Items Available to the Public

Entertainment Sold to Customers

Expenses Includible in Income of Non-employees

Depreciation & Cost Recovery - §167 & §168

Personal Property

ACRS - §168

Applicable Percentage

Straight-line Election

MACRS

Recovery Classes

MACRS Elections

Straight-line

150% Declining Balance

Bonus (or Additional First-year) Depreciation - §168(k)

Phase Down

Qualified Property - §168(k)(2)

Nonqualified Property - §168(k)(2)

MACRS Conventions

Mid-quarter Convention Exception

Election to Expense Assets - §179

Income Limitation

Carryover

Deduction Reduction

Employee Restriction

Recapture - §1245

Net Operating Losses - §172

Creation of an NOL

Individual NOLs

Carryovers

Farming

Corporate NOLs

Further Limitations

Tax Breaks for Nonitemizers

Adjustments

Credits

Amended Returns

Audit Avoidance

Safest Amendments

Not-So-Safe Amendments

Chapter 6 - Income Splitting

Using Progressive Tax Rates

Splitting Income Among Group Members

Wealth Allocation

Major Formats

Unincorporated Business

Deductible Business Expenses

Home-Office Deduction

Requirements - §280A

Non-Exclusive Use Exceptions

Income Limitation

Home Office Deduction Expansion

Analysis

Square Footage Safe Harbor - R.P. 2013-13

Retirement Plans

Hiring Your Children

Hiring Your Spouse

Travel Expenses

Casualty Losses

Bad Debts

Self-Employment Tax

Incorporation

“C” or Regular Corporation

Planning Considerations

When to Incorporate

Formation

Cash for Stock

Property for Stock

Stock for Services

Stock for Debt

Repeal of the “General Utilities” Doctrine

Corporate Assets

Leasing

Lessor

Gift & Leaseback

Sale & Leaseback

“S” Corporation

Single Taxation

S Corporation Return

Planning Considerations

Tax Advantages

Formation

Corporations That Qualify

Income-Splitting

Estimated Tax Payments

Family Partnership

Partner’s Distributive Share

Partnership Return

Schedule K-1 (Form 1065)

Family Partnerships

Family Members

Capital

Children as Partners

Earned Income

Gift of Capital Interest

Custodianship & Children

Taxation

Kiddie Tax - §1(g)

Income-Shifting Investments

US Savings Bonds

Municipal Bonds

Growth Stock

Real Estate

Child Care & Education

Nursery School & Day Care - §21

Special Schools

Credit Plus Special School Expenses

Employer Dependent Care Program - §129

Education Savings Bonds - §135

Notice 90-7

Interest on Education Loans - §221

Buying an Off-campus House

Status as Second Home

Status as Rental Property

Gifting Gain for Education Expenses

Gifts

Gifts by Check

Facts

Holding

Interest Free Loans

De Minimis Exception

Special Rule for Gift Loans

Chapter 7 - Elimination

Former Age 55 Exclusion - Repealed

$500,000 Home Sale Exclusion - §121

Two-Year Ownership & Use Requirements

Tacking of Prior Holding Period

Vacant Land

Mixed Business & Residence Use

Prorata Exception

Safe Harbor Regulations

Change in Place of Employment

Health

Unforeseen Circumstances

Use of Old §1034 & §121 - Gone Long Ago

Limitations on Exclusion

Renting to Parents

Parent’s Benefits

Children’s Benefits

Municipal Bonds

Tax-Exempt Interest on Qualified State or Local Obligations

Reporting

Private Activity Bonds

Divorce & Separation Settlements

Alimony

Child Support

Property Division

Dependency Exemption

Gifts & Inheritances

Basis of Gift

FMV Less Than Donor’s Adjusted Basis

FMV More Than Donor’s Adjusted Basis

Holding Period

Income from Property Given to a Child

Life Insurance

Proceeds Not Received in Installments

Proceeds Received in Installments

Fringe Benefits

Prizes & Awards - §74(b)

Group Life Insurance Premiums - §79

Table I

Accident and Health Plans - §106 & §105

Meals & Lodging - §119

Cafeteria Plans - §125

Educational Assistance Program - §127

Dependent Care Assistance - §129

Reporting Requirements for Dependent Care Programs

Cash Reimbursement Plans

In-kind Assistance

Section 132

No Additional Cost Services - §132(a) & (b)

Qualified Employee Discounts - §132(c)

Services - §132(c)(1)

Property - §132(c)(2) & (4)

Working Condition Fringe Benefits - §132(d)

De Minimis Fringe Benefits - §132(e)

Spousal Insurance

Transportation Fringe Benefits - §132(f)

Moving Expense Reimbursements - §132(a)(6)

Retirement Planning Services - §132(a)(7)

On-premise Athletic Facilities - §132(j)

Nondiscrimination Under §132

Taxation & Valuation of Benefits

Valuation Provisions

Leased Cars

Purchased Cars

Fleet-Average Rule

Cents-Per-Mile Valuation

Commuting Valuation Rule

Chauffeur Services

Eating Facilities

Meal Subsidy Rule

ERISA Compliance

Welfare Plans

Additional Requirements

Employee Expense Reimbursement & Reporting

TRA '86 - Unreimbursed Expenses Become Itemized Deductions

Family Support Act - Reimbursement Without Accounting Is Income

Accountable Plans

Reasonable Period of Time

Fixed Date Safe Harbor - #1

Period Statement Safe Harbor - #2

Adequate Accounting

Per Diem Allowance Arrangements

Federal Per Diem Rate

Related Employer Restriction

Partial Days of Travel

Unproven or Unspent Per Diem Allowances

Reporting Per Diem Allowances

Reimbursement Not More Than Federal Rate

Reimbursement More Than Federal Rate

Nonaccountable Plans

Unreimbursed Employee Expenses

Fixed & Variable Rate (FAVR) Allowances - R.P. 90-34

Elements

Periodic Fixed Payment

Periodic Variable Payment

Limitations

Record keeping

Social Security

Earnings Record

Payments Exempt from Social Security

Social Security Checkup

Form SSA-7004

Form SSA-7050

Chapter 8 - Estate Planning

Unlimited Marital Deduction

Outright To Spouse

Marital Deduction Trust

Qualified Terminable Interest Property (QTIP) Trust

Applicable Exclusion Amount

Spousal Portability of Unused Exemption Amount - §2010(c)(2)

Stepped-up Basis - §1014

Former Modified Carryover Basis Rules - §1022

Property to Which the Former  Modified Carryover Basis Rules Applied

Limited Basis Increase for Certain Property

2010 Special Election

Basic Estate Planning Goals

Primary Dispositive Plans

Simple Will

Danger for Larger Estates

Probate

Assets Not Subject to a Will

Assets Subject to a Will

Trusts

Types of Trusts

Living Trusts

Testamentary Trusts

Revocable & Irrevocable

Living “A-B” Revocable Trust

Living “A-B-C” (QTIP) Trust

Impact of Spousal Portability on Trust B under TUIRJCA

Charitable Trusts

Charitable Remainder Trusts

Charitable Income Trusts

Insurance Trusts

Family Documents

Living Will

Property Agreement & Inventory

Durable Power Of Attorney

Power of Attorney for Health Care

Conservatorship

Funeral Arrangements

Anatomical Gifts

Private Annuity?

Advantages to the Transferor

Disadvantages to the Transferor

Advantages to the Transferee

Disadvantages to the Transferee

Regulations Restrict Private Annuity Income

 

Glossary

CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
Thank you for taking one of our free courses. We would like to be able to let you know when we add free courses or have special offers and will never spam you or share your address with anyone. If you are Ok with that please reply with "Ok" or if not please reply "No Thanks". Either way enjoy your free CPE course.
  
Exam completed on .

Do you want to add the course again?