|Author :||Danny C Santucci, JD|
|CPE Credits :||3.0|
|IRS Credits :||3|
|Passing Score :||70%|
|Course Type:||NASBA QAS - Text - Technical - NASBA Registry - IRS Enrolled Agents|
|Primary Subject-Field Of Study:||
Taxes - Taxes for Course Id 238
This mini-course integrates federal taxation with overall financial planning. The course explores tax strategies relating to the central financial tactics of wealth build-ing, 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.
|Usage Rank :||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 :||Self-Study|
|Intended Participants :||Anyone needing Continuing Professional Education (CPE).|
|Revision Date :||30-May-2021|
|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 - Technical - NASBA Registry - IRS Enrolled Agents - 238
|Keywords :||Taxes, Assets, Income, Cash, Tax, Mini, Course, cpe, cpa, online course|
|Learning Objectives :||
As a result of studying the assigned materials, you should be able to meet the objectives listed below.ASSIGNMENT
* Investment goals and retirement planning
* Building an estate
* Section 1031 “like-kind” exchanges
* Retirement plans
* Tax credits and estimated taxes
* Basic deductions
* Income splitting
* Fringe benefits
2. Determine income types, from a tax perspective, to be budgeted into cash so that income-producing assets can be acquired and managed for an effective investment plan.
3. Recognize the means of achieving tax deferral recognizing like-kind exchanges, retirement plans, and installment sales, and specify the double financial benefit of exchanging through tax postponement and possible tax elimination.
4. Determine how to use tax credits, estimated taxes, and basic deductions to effectively reduce federal income tax and thereby increase discretionary income for investment purposes.
5. Specify formats for income splitting that can benefit taxpayers by lowering overall taxes as a unit and permitting wealth and tax allocation among individuals or entities.
6. Identify the tax benefits of the $500,000 home sales exclusion, municipal bonds, divorce and separation settlements, gifts and inheritances, life insurance, fringe benefits, and Social Security to eliminate tax on realized gain and ordinary income.
|Course Contents :||
Chapter 1 - Assets, Income and Cash
Building an Estate