Assets Income and Cash 2025 - 2.5 CPE

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.

Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise 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:

* Comparing goals and purposes

* Investment goals and retirement planning

* Building an estate

* Section 1031 “like-kind” exchanges

* Retirement plans

* Tax credits and estimated taxes

* Basic deductions

* Income splitting

* Elimination

* Fringe benefits

Learning Objectives:

After reading the materials, participants will be able to:

1. Identify planning misconceptions such as length of retirement and annual income needed.

2. 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.

3. Recognize the means of achieving tax deferral through like-kind exchanges and retirement plans.

4. Determine how to use tax credits, estimated taxes, and basic deductions including limits imposed by §469.

5. 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.

6. Identify the impact of divorce and separation settlements on retirement and recognize the availability of Social Security benefits.

After studying the materials, answer exam questions 1 to 15.

Customer Reviews: