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Course Details

Matching Investments to Tax Savings Techniques (Course Id 233)

Updated / QAS / Registry / EA
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 16.0
IRS Credits : 16
Price : $127.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 233

Description :

Taxes are not taxes they are dollars in terms of the net return on investment. All tax professionals need to know the tax-economics of investing for themselves and their clients. This need is accentuated by the rapid rise of the Internet as a broad-based and effective investment tool.
The tax professional is in a special position to detect a clients need for financial planning. Preparing returns discloses assets, savings, business entities, and family members. Knowledge of the clients assets, activities and the tax characteristics of available entities permits investment matching for maximum after-tax return.
The basic tax characteristics of the primary tax entities are explored and analyzed. Their ability to defer, reduce, and eliminate tax is examined. Client goals, purposes and risk tolerances are determined and quanitated using the Sharp ratio. Investments and assets are then evaluated using a variety of tools found on the Internet. Finally, investments and entities are matched to produce the best after-tax return for the client.

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 : 26-Oct-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 - 233

Keywords : Taxes, Matching, Investments, Tax, Savings, Techniques, cpe, cpa, online course
Learning Objectives :
    To view Learning Objectives, please Click here.
Course Contents :

Chapter 1 - Introduction

The Internet

Investment Clubs

A Map for Financial Independence

Mapping Steps

Identifying Your Goals

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

Company Insurance & 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

Investment Goals

Find Your Place in Time

Know Thy Investment Self

Investment Vehicles & Entities

Developing a Financial Plan

Implementing the Plan

Cash Management

Inflation

Savings

Compounding

Strategies for Savings

Asset Types

Physical Assets

Liquidity

Real Estate

Residential Housing

Land

Commercial Real Estate

Financial Assets

Stocks

Stock Groupings

Cyclical Stocks

Defensive Stocks

High Growth Stocks

Interest-Sensitive Stocks

Small Companies

Preferred Stock

Bonds

Bond Ratings

Standard & Poor

Return & Maturity

Inflation

Callable Bonds

Convertible Bonds

Zero-Coupon Bonds

U.S. Government Bonds

Interest & Inflation Risk

Municipal Bonds

Mutual Funds

Open-End Versus Closed-End Funds

Load vs. No-Load

Index Funds

Life Insurance

Purpose

Types of Life Insurance

Term Insurance

Whole Life (Permanent) Insurance

Straight Life vs. Limited Payment

Modified vs. Preferred

Endowment Insurance

Universal Life

Charges

Premium Payment

Variable Life

Investment Accounts

Taxation

Survivor Life

Single Premium Whole Life

Tax Overview

Income Tax

Transfer for Value Rule

Social Security

Earnings Record

Payments Exempt from Social Security

Social Security Checkup

Form SSA-7004

Form SSA-7050

Commitment

Investment Selection & Evaluation Strategies

Active Strategies

Fundamental Analysis

Technical Analysis

Key Ratios Analysis

Price/Earnings (P/E) Multiple

Earnings Per Share

ROA & ROE

Debt to Equity

Current Ratio

Price-to-Book Value

Day Trading

Asset Value Investing

Contrarian Investing

Short-Term Market Timing

Long Term Trends

Dollar Cost Averaging

Passive Strategies

Dow Investing

Asset Allocation Re-Balancing

Chapter 2 - Entities & Title

Basic Entity Formats

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

Chapter 3 - 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

Personal & Multiple Property Regulations

Effective Date

General Rule for Netting Liabilities

Abandonment of Anticipatory (Re)Financing Proposal

Like-Kind Requirement for Personal Property

Like-Kind

Like Class

Five vs. Four Digits

Miscellaneous Category

SIC Replaced by NAICS System

Property Held for Investment

Class Priority

Other Personal Property

Goodwill Prohibition

Multiple Asset Exchanges

Definition

Exchange Groups

Aggregation & Allocation

Residual Group

Liabilities

Delayed (Deferred) Exchange Regulations

Effective Date

Deferred (Delayed) Exchange Definition

Reverse-Starker Transactions

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 4 - 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

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

Directly Related Test

Associated Test

Statutory Exceptions

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 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)

Initial 50% Additional First-year Depreciation

Temporary 100% Additional First-year Depreciation

Back to 50% Additional First-year Depreciation

PATH Act Extensions & Modifications

Qualified Property - 168(k)(2)

Nonqualified Property - 168(k)(2)

Coordination with 179

MACRS Conventions

Election to Expense Assets - 179

Income Limitation

Carryover

Deduction Reduction

Employee Restriction

Recapture - 1245

Net Operating Losses - 172

Creation of a NOL

Individual NOLs

Carrybacks & Carryovers

Temporary 5 Year Carryback - Expired

Further Limitations

Corporate NOLs

Tax Breaks for Nonitemizers

Adjustments

Credits

Amended Returns

Audit Avoidance

Safest Amendments

Not-So-Safe Amendments

Chapter 5 - 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

Partners 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 Trap

Planning Points

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 6 - 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

Parents Benefits

Childrens 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 Donors Adjusted Basis

FMV More Than Donors 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)

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

Family Support Act of 1988

Remaining Above-The-Line Deduction

Accountable Plans

Reasonable Period of Time

Fixed Date Safe Harbor

Period Statement Safe Harbor

Adequate Accounting

Per Diem Allowance Arrangements

Federal Per Diem Rate

Related Employer

Meal Break Out

Partial Days of Travel

Usage & Consistency

Unproven or Unspent Per Diem Allowances

Travel Advance

Reporting Per Diem Allowances

Reimbursement Not More Than Federal Rate

Reimbursement More Than Federal Rate

Nonaccountable Plans

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

 

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