Assets, Income, and Cash (Mini-Course)
Field of Study:
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 account-ant into the world of financial planning.
After completing this course you will be able to:
- 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 recognizing 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.
General understanding of federal income taxation.
Type of Delivery Method:
Recommended CPE Credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and the final examination.
Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org