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Seminar

Individual Tax Planning (707)

Register for this course:

The meeting times for this class are in the past. Please check here for additional meeting times.

Meeting Times:

Tuesday, July 07, 2020 8:30 AM - Tuesday, July 07, 2020 4:30 PM
The meeting time above is expressed in MOUNTAIN TIME, which is:
Eastern Time:
10:30 AM - 6:30 PM
Central Time:
9:30 AM - 5:30 PM
Pacific Time:
7:30 AM - 3:30 PM

Price:

This course is in the past and can no longer be purchased.

Location:

Internet Course - Live Streamed

Delivery Method:

Group Internet Based

Credit Hours:

5.0 IRS Federal Tax Law MF2AY-T-00877-20-O
3.0 IRS Federal Tax Update MF2AY-U-00878-20-O

Field of Study:

Taxes - Technical (Individual Income Taxation)

Course Level:

Intermediate

Prerequisites:

Understanding of individual taxation

General Description:

Participants will be provided with various tax planning opportunities and problem areas applicable to individual taxpayers and family units.

Learning Objectives:

After completing this course the participant will be able to:

  • Describe the latest tax changes and legislative developments affecting individuals.
  • Determine when to defer and/or accelerate income and deductions.
  • Describe strategies to minimize or avoid the 3.8% and 0.9% Medicare tax.
  • Describe the tax benefits of retirement plan contributions, including contributions to an IRA, borrowing from an IRA, and using rollovers (ROBS) to fund a new business.
  • Describe planning ideas and strategies to avoid Kiddie Tax problems.
  • Apply the Starker and reverse-Starker rules to like-kind exchanges.
  • Explain strategies to maximize the tax benefits of a vacation home or home office and allow commuting expenses to be deducted.
  • Illustrate the benefits of year-end gifts to family members and using living trusts and intentionally defective grantor trusts.
  • Describe the use of an IRA to maximize a charitable contribution.
  • Describe strategies for maximizing the deduction for travel and entertainment expenses.
  • Differentiate the tax effects of leasing or purchasing a business automobile.
  • Describe the benefits of using Solo §401(k) plans, IRAs, Roth IRAs, Roth §401(k) plans, nondeductible IRAs, and HSAs.
  • Calculate the deduction for qualified business income under ยง199A as a way to reduce tax liability and when a self-employed person might reconsider making an S election.
  • Discuss strategies for payment of tax liability and avoiding alternative minimum tax.
  • Explain the rules that apply to capitalization of tangibles and whether an expenditure is a deductible repair or required to be capitalized.
  • Discuss the options for distributions from IRAs and qualified plans, including minimum distribution rules and inherited IRAs.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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