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Course Details

Basic Marital Tax Matters - Mini Course (Course Id 136)

Updated / QAS / Registry / EA   Add to Cart 
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 2.0
IRS Credits : 2
Price : $19.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 136

Description :

In this mini-course, initial marital tax matters such as living together, property rights, premarital agreements, filing status, exemptions, and dependents are explored. The detail support test for children of divorced or separated parents, the tax treatment of back child support, the deduction of divorce costs, and estimated tax payments are reviewed. Emphasis is given to marital property rules, married versus unmarried tax rate comparison, head of household status, and treatment of refunds and deficiencies.

Usage Rank : 0
Release : 2017
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 : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 01-Sep-2017
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 - NASBA Registry - IRS Enrolled Agents - 136

Keywords : Taxes, Basic, Marital, Tax, Matters, 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
    At the start of the materials, participants should identify the following topics for study:
      * Marital status
      * Joint return
      * Separate returns
      * Head of household
      * Exemptions
      * Divorce costs
      * Withholding & estimated tax
      * Community property states
      * Ending the community
      * Living together
Learning Objectives:
    After reading the materials, participants will be able to:
      1. Identify marital status and the effect marital status has on filing status, cite the tax advantages and disadvantages of a filing status and, specify the requirements for filing as head of household and the exemptions associated with spouses and dependents.
      2. Recognize the differences between custodial and non-custodial parents including how the status affects dependency, identify the application of special support rules, and specify the dependent child income standards.
      3. Determine common law and community property noting their affect on marital and divorce planning, and identify the circumstances when payments qualify as 71 alimony.
Course Contents :

Chapter 1 - Basic Marital Tax Matters

 

Filing Status

Marital Status

Unmarried

Abandoned Spouse Rule - 7703

Married

Same-Sex Marriage

Joint Return

Citizenship

Liability

Innocent Spouse Exception

Refund Offset Program - 6402

Injured Spouse - Form 8379

Separate Returns

Itemized Deductions

Medical Expenses

Property Tax & Interest

State Income Taxes

Casualty Loss

Separate vs. Joint Dilemma

Disadvantages of a Separate Return

Advantages of a Separate Return

Joint Return after Separate Returns

Head of Household

Requirements

Considered Unmarried

Keeping Up a Home

Qualifying Person

Nonresident Alien Spouse

Exemptions

Phaseout of Exemptions

Personal Exemptions

Spouses

Former Spouse

Dependency Exemptions Old & Current Rules

Five Pre-2005 Dependency Tests The Old Rules

Test #1 - Relationship

Household Member

Test #2 - Income

Dependent Child Income Exception

Definition of a Child

Definition of a Student

Test #3 - Citizen or Resident

Test #4 Married Person

Test #5 - Support

Regular Method

Joint Home Ownership

Special Support Method for Children of Divorced or Separated Parents

Custodial Parent

Noncustodial Parent

Back Child Support

Dependency Tests After 2004

Unified Definition of a Qualified Child

Four Dependency Tests

Test #1 - Residency (or Time) & Citizenship

Children of Divorced or Separated Parents

Test #2 - Relationship Test

Test #3 - Age Test

Test #4 - Joint Return Restriction

Medical Expenses

Child-Care Credit

Divorce Costs

Allocation of Costs & Fees

Tax Advice - 212(3)

Fees to Obtain Alimony or Protect Income - 212(1) & (2)

Fees to Obtain Property - 1012 & 1016

Nondeductible Expenses

Withholding & Estimated Tax

Joint Estimated Tax Payments

Refunds & Deficiencies

Nonresident Alien Spouse Withholding

Marital Property

Common Law Property

Equitable Distribution

Community Property

Community Property States

Transmutation

Commingling

Income Reporting

Spouses with Different Residency Statuses

Special Income Rules For Spouses Living Apart - 66(a) & 879

Mandatory Application

Earned Income

Social Security Benefits

Other Income

Denial of Community Property Reporting - 66(b)

Community Reporting Relief Provisions - 66(c)

Ending the Community

Annulment

Separation

Alimony vs. Community Income

Spousal Support - aka Alimony

Divorce or Separation Instrument

Alimony Rules

Requirements

Payment Must Be In Cash

Payments to a Third Party

Written Requests, Consents, or Ratifications

Voluntary Payments

Designating Payments as Not Alimony

Members of Different Households

Exception

Termination at Death

Child Support

Joint Return Prohibited

Deducting Alimony Paid

Reporting Alimony Received

Alimony as Compensation

Living Together

Married v. Unmarried Tax Rate Comparison

Sham Divorce

Dependency Exemptions

Attributable Income

Alimony & Property Divisions

 

Glossary

Taxes Course 136 Home: https://www.cpethink.com/tax-cpa-courses
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