Source: https://www.cpethink.com/course/business-taxation
Timestamp: 2018-04-20 06:41:40
Document Index: 325454333

Matched Legal Cases: ['§465', '§469', '§263', '§1411', '§465', '§469', '§172', '§447', '§461', '§183', '§467', '§265', '§264', '§164', '§165', '§243', '§280', '§280', '§174', '§195', '§195', '§248', '§709', '§197', '§197', '§197', '§166', '§30', '§30', '§30', '§48', '§168', '§168', '§179', '§3111', '§3121', '§3302', '§132', '§132', '§132', '§132', '§74', '§274', '§79', '§105', '§127', '§61', '§132', '§7872', '§7872', '§132', '§67', '§212', '§67', '§212', '§67', '§212', '§132', '§409', '§164', '§179', '§132', '§79', '§264', '§2032', '§2032', '§303', '§303', '§302', '§318']

Business Taxation Course | Tax Preparation CPE | CPEThink.com
Business Taxation (Course Id 326)
IRS Credits : 24
Taxes - Taxes for Course Id 326
Americans who want to be their own boss are not entirely on their own. They have a rich uncle - Uncle Sam - who is there to help, as well as to make demands. The nations tax laws are intended to encourage people to start new businesses and are chock full of incentives and tax breaks, as well as sometimes onerous reporting requirements.
This course is a fast-paced and entertaining guide through tax issues affecting business entities and their owners. The focus of this class is on tax devices and techniques available to the small-business owner. Emphasis will be given to operational deductions, fringe benefits, compensation, family income splitting, retirement plans, and estate planning.
Business Taxes IRS gov
Revision Date : 23-Sep-2017
NASBA QAS - NASBA Registry - IRS Enrolled Agents - 326
Keywords : Taxes, Business, Taxation, cpe, cpa, online course
Chapter 1 - Structure, Reporting & Accounting<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Schedules C & C-EZ
General Tax Aspects
Passive Presumption
At Risk Rules - §465
Passive Loss Limitations - §469
Active/Passive Determination
Triggering Suspended Losses
Form 1120 - Corporate Income Tax Return
Limit on Deduction for Dividends
At-Risk Rules for Closely Held Corporations
Monitor the Progress of a Business
Changing a Business’s Method of Accounting
Uniform Capitalization Rules - §263A
Chapter 2 - Business Income, Credits & Assets
Individual Lessors
Uncollectible Loans
Interest on Insurance Dividends
Tax on Net Investment Income - §1411
Sale Or Exchange Of Depreciable Property
Partner’s Return
S Corporation Return
Shareholder’s Return
NOL Comparison
Disposition of Business Assets
Qualified Property Requirement
Goodwill Prohibition
Chapter 3 - Selected Business Expenses
Cost Recovery Depreciation
At-Risk Amounts - §465
Passive Losses - §469
Net Operating Loss - §172
Creation of a NOL
Individual NOLs
Corporate NOLs
Timing of Expense Deduction - §447
Economic Performance - §461
Expenses of Not-for-Profit Activities - §183
Presumption of Profit
Using The Presumption Later
More Than One Activity
Leveraged Leases Of Limited-Use Property
Leases over $250,000 - §467
Expenses to Obtain a Mortgage
Capital Gain Inclusion Election
Losses from Passive Activities
When to Deduct Investment Interest
Interest on a Market Discount Bond
Nondeductible Interest
Interest on Income Tax Owed
Commitment Fees & Service Charges
Traced Debt
Avoided Cost Debt
When Interest Is Paid or Incurred
Interest Related To Tax-Exempt Income - §265
Interest on Insurance Policy Loans - §264
Systematic Plan of Borrowing
Deductibility of Premiums & Interest on Life Insurance
Existing Interest on Purchase
Corporate Acquisition Interest
Interest Allocation Rules for Multi-Purpose Loans
Proceeds Not Disbursed To Borrower
Proceeds Deposited In Borrower's Account
Payments From Checking Accounts
Amounts Paid Within 30 Days
Optional Method For Determining Date Of Reallocation
Interest On A Separate Account
Accrued Interest Before Debt Proceeds Are Received
Continuous Borrowings
Special Rules for Partnerships & S Corporations
Debt-Financed Acquisitions
Deductible Taxes - §164
Change in Date of Tax Accrual
Real Estate Taxes on Purchase Or Sale
Choosing To Ratably Accrue
Separate Choices
States & Local Sales Tax for Individuals
Temporary Sales Tax Deduction for Qualified Vehicles (Expired)
Unemployment Fund Taxes
Casualty & Theft Losses - §165
Dividends Received Deduction - §243
80% Exception
Home-Office Deduction - §280A
Requirements - §280A
Non-Exclusive Use Exceptions
Home Office Deduction After 1998
Research & Experimental Costs - §174
When & How To Choose
Business Start-Up & Organizational Costs - §195
Reduced Corporate Deductions For Exploration Costs
Recapture Of Exploration Expenses
Circulation Costs
Retired Asset Removal Costs
Barrier Removal Costs
Other Barrier Removals
Deducting Amortization
Start-Up Costs - §195
Purchasing An Active Trade Or Business
Corporate Organizational Costs - §248
Nonqualifying Costs
Partnership Organizational Costs - §709
Costs of Obtaining a Lease
Cost Attributable To Other Property
Section 197 Intangibles Defined
Workforce In Place, Etc.
Business Books And Records, Etc.
Government-Granted License, Permit, Etc.
Franchise, Trademark, Or Trade Name
Contract For The Use Of, Or A Term Interest In, A §197 Intangible
Assets That Are Not §197 Intangibles
Rights Of Fixed Duration Or Amount
Disposition of §197 Intangibles
Nonrecognition Transfers
Research & Experimental Costs
Amortizable Costs
Basis For Depletion
Total Recoverable Units
Determining The Cost Depletion Deduction
Partner’s or Shareholder’s Adjusted Basis
Mines & Geothermal Deposits
Transportation Of More Than 50 Miles
Bonuses & Advanced Royalties
Business Bad Debts - §166
Cash Method Taxpayers
Debt Acquired from a Decedent
Methods of Treating Bad Debts
Partly Worthless Debts
Totally Worthless Debts
Property Received for a Debt
Nonaccrual-Experience Accounting Method
Refueling Property & Electric Vehicles
Alternative Fuel Refueling Property (Expired) - §30C
Plug-In Electric Drive Motor Vehicle Credit - §30
Plug-in Electric Motorcycles & 3-Wheeled Electric Vehicles - §30D(g)
Advanced Energy Investment Credit - §48C
Depreciation - §168
Bonus (or Additional First-year) Depreciation - §168(k)
Coordination with §179
Chapter 4 - Employee Compensation & Benefits
Employee vs. Contractor Status
Test #1 - Reasonableness
Limitation on Accrual Deduction
Employee’s Compensation History
Unreasonably Low Salaries
Reasonable Dividends
Bonuses as Constituting Dividends
Test #2 - For Services Performed
Employee-Shareholder Salaries
Employee Gifts of Nominal Value
Welfare Benefit Funds
Payroll Tax Withholding & Reporting
Social Security’s Payroll Tax or FICA - §3111 & §3121
Federal Unemployment (FUTA) Tax - §3302
Old Dichotomy - Statutory v. Nonstatutory
TRA ‘84 - §132
Only Statutory Benefits
No-Additional-Cost Services - §132(b)
Line of Business Requirement
Manner of Discount
Real Estate & Investment Property Exclusion
Working Condition Fringes - §132(d)
De Minimis Fringes - §132(e)
Subsidized Eating Facilities
Employee Achievement Awards - §74(c) & §274(j)
Definition of Employee Achievement Awards
Employer Deduction Limits
Group Term Life Insurance - §79
Conflict with Dependent Care
Self-Insured Medical Reimbursement Plans - §105
Employee Educational Assistance Programs - §127
Employer Provided Automobile - §61 & §132
General Valuation Method
Interest Free & Below-Market Loans - §7872
Application of §7872 and Rate Determinations
Employer-Provided Retirement Advice & Planning - §132
Financial Planning - §67 & §212
Tax Planning - §67 & §212
Estate Planning - §67 & §212
Physical Fitness Programs - §132(h)(5)
Stock Sales or Unrestricted Stock Plan
Comparison with Profit Sharing Plans
Repurchase or Restricted Stock Agreement
Qualified Incentive Stock Option
IRS Scrutiny & Approval
No Immediate Cash Outlay
Service’s Position
Beyond Actual Receipt
Simple Set Asides Are Not Possible
Revenue Ruling 60-31
Time & Control Concept
Has Something of Value Been Transferred?
Insurance Coverage Has a Calculable Value
Segregated Funds Have Immediate Economic Value
Unfunded Bare Contractual Promise Plan - Type I
Funded Company Account Plan - Type II
Ownership & Segregation
Bookkeeping Reserve or Separate Account
Employee Bears Economic Risk
Investment of Deferred Amounts
Segregated Asset Plan - Type III
Section 83 Approach
Tight Rope Format
Transferable or Not Subject To A Risk of Substantial Forfeiture
Substantial Restrictions
Redemption or Forfeiture
Condition Related to a Purpose of the Transfer
Realization & Taxation
30-Day Election Period
Reciprocal Taxation/Deduction Rule
No Difference for Cash or Accrual
Separate Accounts for Two or More Participants
Income Tax on Employer Held Assets
Inclusion in Income Under §409A
Chapter 5 - Automobiles
Interest Deduction Limit for Individuals
Self-Employed Exception
2009 Sales Tax Deduction for Qualified Vehicles (Expired) - §164
Trade-In of Old Car for New
Conversion to Business Use - “Lesser of” Rule
MACRS - 5 (Actually 6) Years
200%Double Declining Balance Method
150% Declining Balance Method Election
Straight-Line Method Election
Depreciation “Caps”
Separate Depreciation Caps for Trucks & Vans
Post-Recovery Period Depreciation - Max Reduction Rule
Making the §179 Election
Business Use Reduction
SUV Limitation
Predominate Business (More Than 50%) Use Rule
Change From Personal to Business Use
Employee Use of Their Own Car
Failure to Meet Predominate Business Use Rule
Later Reduction in Qualified Use
ITC Recapture - Highly Unlikely
Short Tax Year Depreciation Reduction
Closed-End vs. Open-End Lease
Formula for Monthly Payments
Leasing Deduction Restrictions
Income Inclusion Amount
Separate Lease Inclusion Table for Trucks & Vans
Cars Leased For 30 Days or More After 1986
Computation of Inclusion
Nine-Month Following Year Rule
Limitations on Standard Mileage Method
Use, Ownership & Prior Depreciation
Qualified Transportation - §132(f)
General Hypothetical Valuation Method
Special Method #1 - Lease Value
Annual Lease Value - For Entire Calendar Year
Safe Harbor Value
Items Included in Annual Lease Value Table
Prorated Annual Lease Value - For 30 Days or More
Daily Lease Value - For Less Than 30 Days
Special Method #2 - Cents per Mile
Regular Use - 50% Business
Mileage Rule - 10,000 Miles
Items Included In Cents-Per-Mile Rate
Special Method #3 - Commuting Value
Employer-Provided Transportation in Unsafe Areas
Nonpersonal Use Vehicles - 100% Excludable
Clearly Marked Police or Fire Vehicles
Unmarked Law Enforcement Vehicles
Pickup Truck Guidelines
Qualified Automobile Demonstration Use
Full-time Automobile Salesperson
Election Not to Withhold for Income Taxes
Special Accounting Period - Pour Over Method
Chapter 6 - Business Travel & Entertainment
Circuit Court Test
No Tax Home
Prior Law Presumptions
One-Year IRS Presumption
Less than Two-Year Exception
Temporary Job That Became Permanent
Current Law - One-Year Rigid Time Rule
Away From Home Requirement
Correll Case
Business Purpose Requirement
Primarily for Business Test
Existing Trade or Business
51/49 Percent Test
50% Deduction Limitation
Lavish or Extravagant Restriction
Ordinary & Necessary Requirement
Clear Business Setting Presumption
Employee, Stockholder and Business Meetings
Expenses Includible in Income of Non-employees
Quiet Business Meals & Drinks
Taxpayer's (or Employee) Presence
Section 212 Meals Not Deductible
Exception for Charitable Sports Events
Special Limitation for Skyboxes
Percentage Reduction for Meals & Entertainment
Application of Reduction Rule
2% Floor on Employee Business Expenses
OBRA '93
Sales Incentive Awards
Substantiation & Record Keeping
Remaining Above-The-Line Deductions
Fixed Date Safe Harbor
Period Statement Safe Harbor
Expenses Related to Taxpayer's Business
Expenses Incurred on Behalf of a Client & Reimbursed
Meal & Entertainment Expenses
With Adequate Accounting
Without Adequate Accounting
Non-Entertainment Expense Deduction
When Can an Expense Be Deducted?
Economic Performance Rule
Nondeductible Meals
Employer Provided Auto
Chapter 7 - Retirement Plans
2009 Waiver of Required Minimum Distribution Rules
Charitable Distributions from an IRA
Group Term Life - §79
Cost Of Group-term Life Insurance
“Key Employee” Defined
Revenue Ruling 68-577
Death Benefit Only Plan - Repealed
Repeal of Exclusion
Tax Credit for Disabled
Interest Limitation on Policy Loans - §264
Exclusion Of Inside Buildup & Amounts Received
Premium Deduction Limitation
Interest Deduction Disallowance With Respect To Life Insurance
Prorata Disallowance of Interest on Debt to Fund Life Insurance
Interest Limitation for Tax-Exempt Interest Income
Other Selected Insurances
Capitalized Insurance
Chapter 9 - Estate Planning
Applicable Exemption (or Exclusion) Amount
Advantages to the Transferor
Disadvantages to the Transferor
Advantages to the Transferee
Disadvantages to the Transferee
Special Real Estate Election - §2032A
Related Party Cash Lease
R.R. 68-609
Land Subject To Conservation Easement - §2032A(c)(8)
No Additional Income Tax Deduction
Special Valuation plus Minority Discount
Swing Vote Premium
Redemptions Under §303
Corporate Accumulation For §303 Redemption
Accumulation in Anticipation of Shareholder’s Death
Stock Redemptions Under §302
Substantially Disproportionate Redemption - 80/50 Rule
Redemptions Not Essentially Equivalent to a Dividend
Complete Redemptions
Constructive Ownership - §318
Stock Attribution in Complete Redemptions
Stock Recapitalization
Section 306 Taint
Taxes Course 326 Home: https://www.cpethink.com/tax-cpa-courses