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Course Details

Entities & Title - Tax Mini Course (Course Id 375)

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%
Primary Subject-Field Of Study:

Taxes - Taxation for Course Id 375

Description :

Before launching into an estate planning program, its important to know who owns what and exactly for whom you are planning. This requires that methods of holding title must be analyzed, considered, and selected. Sole proprietorships, S corporations, C corporations, partnerships, and limited liability companies are analyzed as to formation, operation, and ultimate disposition. Since who or what holds title imposes its own unique tax and legal consequences on the estate plan, emphasis is given to the maximization of tax benefits in each business format. While each has its own separate characteristics, several may be used together in more sophisticated planning.

Usage Rank : 0
Release : 2016
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 : 12-Feb-2016
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 - 375

Keywords : Taxes, Entities, Title, 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

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

    * Individual ownership & sole proprietorships
    * Corporations
    * Trusts & co-tenancies
    * Co-tenancy taxation, percentage interests & partition
    * Partnership taxation & recapitalization
    * Family partnerships
    * Limited liability companies
    * Retirement plans
    * Custodianship
    * Estate
Learning Objectives:

After reading the materials, participants will be able to:
    1. Specify the various types of corporations, identify S corporation rules and their tax advantages and disadvantages, cite the advantages and disadvantages of corporations relative to other types of entities, and determine how leasebacks to corporations work;
    2. Identify the different types of joint ownership and how to use the benefits of partnerships, trusts and limited liability companies to hold property;
    3. Recognize the various retirement plans noting how they can be used to provide substantial lifetime benefits to a business owner and to employees.
Course Contents :

Chapter 1 - Entities & Title

 

Ownership Vehicles & Entities

Individual & Sole Proprietorship

Marital Property

Timing & Domicile

Corporate

Categories of C Corporations

Personal Holding Company - 541

Attribution Rules

Penalty Tax

Regular C Corporation

No Pass Through

Getting Money Out of the C Corporation

Passive Loss Restrictions

Partnership vs. Corporation

Personal Service Corporation - 269A

S Corporation - 1361

Minors as Shareholders

Bequests & Estate Ownership

Trusts as Shareholders

S Corporation Assets

Built-In Gains Tax - 1374

Incorporation of a Farm

Land Partnership Advantage

Leasebacks

Trusts

Title Holding

Business Trusts

Co-Tenancy

Taxation

Percentage Interests

Partition

Partnership

Partnership Taxation

Allocation of Income & Deduction

Partnership Recapitalization

Two Class Format

Valuation

Guaranteed Payment

Control & Management

Estate Issues

Family Partnerships

Estate Savings

Income Tax Savings

Family Partnership Requirements

Recognizing a Partner

Control

Transferability

Donee as a Partner

Trusts as Partners

Minor as a Partner

Purchased Interests

Capital Interest in the Partnership

Capital as a Material Income-Producing Item

Source of Capital

Family Partnerships Not Within 704(e)

Real Estate Family Partnerships

Business Family Partnerships

Structuring the Family Partnership

Limited Liability Company

Outside Basis & Debt Share Advantage

Substantial Economic Effect Rules

Discharge of Indebtedness Income

Suggested Uses

Professional Firms

Joint Ventures

Substitute for Family Limited Partnership

Retirement Plan

Employer Costs

Profit Sharing Plan

Money Purchase Pension Plan

Defined Benefit Pension Plan

Custodianship

Estate

 

Glossary

Taxes Course 375 Home: https://www.cpethink.com/tax-cpa-courses
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