Major Topics
Learning Objectives
- Specify marital property transfers and asset protection strategies including insurance and organization structures to achieve protection and access objectives while avoiding fraudulent transfers.
- Recognize medical costs and casualty and theft losses that may be deductible.
- Identify debt cancellation, foreclosure, and the deductibility and re-porting of bad debts.
- Recognize elderly, disability, and estate planning programs and provisions to be considered for catastrophic and death planning purposes.
- Identify common types of bankruptcy filings and related provisions that impact individual or business filings.
Course Description
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.
Compliance Information
Advanced Preparation
None
Field of Study
Taxes
Credits
3 Credits
Published Date
February 2, 2023
Revision Date
April 1, 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
