Selected Legal Issues with Tax Analysis 2023 - 2 CPE
Mini-Course Description & Study Guide
How can you help your clients protect their assets? What is the best way for your client to “go bankrupt”? How can you help your client avoid the tax trap when going through a divorce? This course addresses all of these and many other, critical legal issues for the tax practitioner in a quick and effective pot-pourri of legal topics and their tax impact.
TEXAS COMPLIANCE PENDING:
Texas requires a class be reviewed by enough students to assign earned CPE credits. This course is still new enough that we are obtaining the reviews needed. We recommend Texas CPAs check back soon. This process is usually finished within a few weeks.
Selected Legal Issues with Tax Analysis
Mini-Course Description & Study Guide
How can you help your clients protect their assets? What is the best way for your client to “go bankrupt”? How can you help your client avoid the tax trap when going through a divorce? This course addresses all of these and many other, critical legal issues for the tax practitioner in a quick and effective pot-pourri of legal topics and their tax impact. The emphasis is on the tax conse-quences of common legal issues in today's litigious society. From the Americans with Disabilities Act to Social Security taxes, a generous sampling of key areas is examined and explored. Tax practitioners will be quickly surprised to find how often the "tax tail" can wag the legal dog.
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.
At the start of the materials, participants should identify the following topics for study:
* Asset protection
* COBRA coverage
* Divorce settlements & divisions
* Employment & Social Security
* Americans with Disabilities Act
* Entities and title
* Insurance & foreclosure
* Involuntary conversions
* Torts and personal injuries
After reading the materials, participants will be able to:
1. Recognize the business law concepts of asset protection, bankrupt-cy, condemnation, and damages specifying their tax, economic, and le-gal impact on small business planning.
2. Determine the business relationships of principal, employee, and independent contractor including the legal and tax consequences of their relationship to a business, specified business and legal risks posed by these parties, including co-ownership, employment, Work-er's Compensation, COBRA and Disability Act provisions and identify proactive techniques such as buy-sell agreements and regulatory compliance procedures.
3. Recognize the variety of personal tax and legal issues such as di-vorce, foreclosure, legal title, and income needs that can directly im-pact a client’s business and determine how investment, insurance, and government benefit planning can address these issues.
After studying the materials, answer exam questions 1 to 10.
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.