|Author :||Danny C Santucci, JD|
|CPE Credits :||3.0|
|IRS Credits :||3|
|Passing Score :||70%|
|Primary Subject-Field Of Study:||
Taxes - Taxes for Course Id 141
This course explores many tax issues that arise from filing for bankruptcy. Also addressed are asset protection for the tax practitioner and medical costs covered under §213. There is an examination of property settlements and other transfers incident to divorce. A tax surprise for many taxpayers is the taxability of debt cancellation and repossessing property sold on the installment method can also be taxable. Finally, practitioners are brought up-to-date information on tax issues affecting estate planning and business issues.
|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 :||12-Jan-2019|
|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 - 141
|Keywords :||Taxes, Tax, Bankruptcy, Financial, Problems, 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 property settlements - §1041
* Asset protection
* Medical costs -§213
* Casualty & theft losses - §165
* Debt cancellation & foreclosure, repossession & bad debts
* Elderly & disabled planning
* Catastrophic illness & healthcare decisions
* Supplemental security income & disability benefits
* Estate planning & primary dispositive plans
After reading the materials, participants will be able to:
2. Specify marital property transfers and asset protection strategies including insurance and organization structures to achieve protection and access objectives while avoiding fraudulent transfers.
3. Recognize medical costs and casualty and theft losses that may be deductible.
4. Identify debt cancellation, foreclosure and the deductibility and reporting of bad debts.
5. Recognize elderly, disability and estate planning programs and provisions to be considered for catastrophic and death planning purposes.
|Course Contents :||
Chapter 1 - Tax, Bankruptcy and Financial Problems