Major Topics
Learning Objectives
- Identify investment purposes and retirement misconceptions, the multi-step retirement process, and the elements of investment planning.
- Determine income types, from a tax perspective, to be budgeted into cash so that income-producing assets can be acquired and managed for an effective investment plan.
- Recognize the means of achieving tax deferral through like-kind exchanges, retirement plans, and installment sales, and specify the double financial benefit of exchanging through tax postponement and possible tax elimination.
- Determine how to use tax credits, estimated taxes, and basic deductions to effectively reduce federal income tax and thereby increase discretionary income for investment purposes.
- Specify formats for income splitting that can benefit taxpayers by lowering overall taxes as a unit and permitting wealth and tax allocation among individuals or entities.
- Identify the tax benefits of the $500,000 home sales exclusion, municipal bonds, divorce and separation settlements, gifts and inheritances, life insurance, fringe benefits, and Social Security to eliminate tax on realized gain and ordinary income.
Course Description
This mini-course integrates federal taxation with overall financial planning. The course explores tax strategies relating to the central financial tactics of wealth building, capital preservation, and estate distribution. The result is a unified explanation of tax-economics that will permit the tax professional to locate, analyze, and solve financial concerns. Designed to improve the quality of services to clients and the profitability of engagements, this program projects the accountant into the world of financial planning.
Compliance Information
Advanced Preparation
None
Field of Study
Taxes
Credits
2.5 Credits
Published Date
February 1, 2023
Revision Date
February 14, 2024Course Authors
Danny Santucci
All of our self-study courses are NASBA approved (through our partners at K2 Enterprises) the revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs (Standards).
Your Registration Includes:
- Course materials (video & PDF version)
- Unlimited attempts to complete exam
- Course materials (PDF & Sample Materials)
- Instant grading & certificate of completion
- One year access to complete your CPE
- Completion certificate
