Cart empty

Fast, Easy and Affordable Continuing Education for Accountants!

Our Amazing Sales & Support: 888-398-8540

Making the Best of Bad Situations 2023 - 2 CPE

Email
This mini-course will teach participants how to apply, implement, and evaluate the strategic tax aspects of marital and financial setbacks. Property transfers, asset divisions, alimony, filing status, exemptions, and child support are exam-ined.
The cancellation of indebtedness income inclusion rules are discussed in the context of debt forgiveness and property foreclosure.
No image set
$13.95
Download

Making the Best of Bad Situations 2023- 2 CPE

making_the_best_of_bad_situations_2023_2_cpe_fe_na.pdf
Price: No additional charge

Manufacturer: Santucci

This mini-course will teach participants how to apply, implement, and evaluate the strategic tax aspects of marital and financial setbacks. Property transfers, asset divisions, alimony, filing status, exemptions, and child support are exam-ined.
The cancellation of indebtedness income inclusion rules are discussed in the context of debt forgiveness and property foreclosure. Emphasis is given to the exceptions from income inclusion contained in §108. The tax treatment of prop-erty repossession under §1038 and bad debt treatment under §166 is reviewed.
Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless oth-erwise indicated, no correct or incorrect feedback for any exam question will be provided.
Course Level: Overview. This program is appropriate for professionals at all organizational levels.
Field of Study: Taxes
Prerequisite: General understanding of federal income taxation.
Advanced Preparation: None
Learning Assignment & 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 tax liability
* Transfers incident to divorce
* Alimony & child support
2
* Debt cancellation & income inclusion rule
* Reduction of tax benefits
* Foreclosure
* Repossession of personal property
* Repossession of real property
* Non-business bad debts
* Business bad debts
Learning Objectives
After reading the materials, participants will be able to:
1. Recognize tax considerations and tax guidance for marital break-downs and, identify marital status specifying the effect marital status has on filing status and federal income tax obligations.
2. Identify state marital property provisions, cite the elements of §1041 identifying at least two tax traps for the unaware, and specify variables that determine whether a payment is alimony.
3. Determine the exceptions to the general income inclusion rule spec-ifying their tax impact, and recognize the various issues related to cal-culating gain or loss resulting from foreclosure or repossession in-cluding the differences between personal and real property reposses-sion, amount realized on sale, or other distribution of property in a foreclosure, and basis calculation on repossession of property.
4. Identify nonbusiness and business bad debts under §166 determin-ing their differences in Code requirements and amount allowed.
After studying the materials, answer exam questions 1 to 10.
Notice
This course and test have been adapted from materials and information contained in the above text and any supplemental material provided. This course is sold with the understand-ing that the publisher is not engaged in rendering legal, accounting, or other professional ad-vice and assumes no liability whatsoever in connection with its use. Since laws are constantly changing, and are subject to differing interpretations, we urge you to do additional research and consult appropriate experts before relying on the information contained in this course to render professional advice.

Reviews

There are yet no reviews for this product.
The 7 Irrefutable Rules of Small Business Growth - 20 CPE Credit Hours
$59.95
NOT AN ONLINE COURSE! NOT TEXAS COMPLIANT. PLEASE SEE DETAILS. Starting a small business and making it a success isn’t easy. In fact, most small business owners don’t get rich and many fail. This book presents the straight truth on small business success.
Social Security Medicare & Government Pensions - 20 CPE Credit Hours
$59.95
NOT AN ONLINE COURSE! NOT TEXAS COMPLIANT. PLEASE SEE DETAILS. Everyone wants to get the highest possible retirement and pension income – not to mention the best medical coverage. Turn to the completely updated 17th edition of Social Security, Medicare & Government Pensions to discover the benefits you're entitled to
Fraud 101 - 20 CPE Credit Hours
$59.95
NOT AN ONLINE COURSE! NOT TEXAS COMPLIANT. PLEASE SEE DETAILS. Fraud 101, Third Edition serves as an enlightening tool for you, whether you are a business owner or manager, an accountant, auditor or college student who needs to learn about the nature of fraud. In this invaluable guide, you will discover and better un
Bookkeeping for Nonprofits - 20 CPE Credit Hours
$59.95
NOT AN ONLINE COURSE! NOT TEXAS COMPLIANT. PLEASE SEE DETAILS. Bookkeeping for Nonprofits is a hands-on guide that offers nonprofit leaders, managers, and staff the tools they need to create and maintain a complete and accurate set of accounting records. This much-needed resource provides those with little or no book
$99 Unlimited CPE Subscription
$99.00
Our $99 Unlimited CPE Subscription includes 365 Days of Online access to all of the Accounting CPE Credits you need. Subscribers can access discounted Ethics for less than $10/course!

Our CPE Is Accepted In:

 
Our CPE is currently accepted in: AL, AK, AZ, CA, CO, CT, DE, GA, ID, IN, IA, KY, ME, MD, MA, MI, MO, MT, NV, NH, NM, ND, PA, RI, TX, UT, VT, VA, WA, WI, WY

Testimonials

 
That was a quick and complete response to my inquiry!!!!! Thank you.
Roger CPA
 
 
Thank you again for responding to me on a Sunday.
Paul CPA
 
 
Thank you. I finish a test when I am in a flight for a business trip so when I log in to your website, I can enter all answers.
Mike CPA
 

Login Form

If you see "invalid token" please press ctrl+shift+R and then login again. (you can Click Here for an explanation)