Source: https://www.cpethink.com/course/asset-protection-tax-and-financial-aspects
Timestamp: 2019-08-23 11:04:29
Document Index: 536329806

Matched Legal Cases: ['§101', '§2042', '§2035', '§302', '§2703', '§2703', '§541', '§269', '§1361', '§1374', '§679', '§671', '§671', '§678', '§704', '§354', '§355', '§356', '§381', '§108', '§108', '§108', '§108', '§108', '§108', '§108', '§108', '§108', '§108', '§1041', '§736']

Asset Protection - Tax and Financial Aspects
Select Andrew Clark Arthur Reed Blair Cook Carolyn Maul Charles Sarahan II Chris Brady Christopher J Demaline Danny C Santucci David Banfield David Ringstrom Frank Agin Garland Granger Jae K. Shim Jay R Carlson Jeffrey Paul Borschowa Jill Trehearne Jonathan Segraves Joseph P Helstrom Kelen Camehl L. Keith Jordan Leita Hart-Fanta Martin John Hansen Mary S Schaeffer Michael J Walker Mitchell Levy Patricia McCarthy Paul Winn Rick Solomon Samuel Fredrick Shehan Chandrasekera Steven C Fustolo Tad B Stephens Walter G. Austin William (Chip) Ellis Yoel Israel
Asset Protection - Tax and Financial Aspects (Course Id 99)
CPE Credits : 23.0
IRS Credits : 23
Taxes - Taxes for Course Id 99
This informative course covers traditional planning tools and their utilization to protect assets. The Uniform Fraudulent Conveyance Act, the Bankruptcy Code and various aspects of the tax law are highlighted in describing asset protection aspects of corporations, partnerships, limited liability companies, family partnerships, trusts, retirement plans, insurance products and other conventional tools. Special topics include protection against lawsuits, costs of long-term illness, divorce settlements, foreign asset protection trusts, statutory protections, homestead provisions, exempt assets, cancellation of indebtedness taxation and marital agreements.
Asset Protection Tax Financial Aspects PDF version NASBA
Revision Date : 14-Aug-2018
NASBA QAS - NASBA Registry - IRS Enrolled Agents - 99
Keywords : Taxes, Asset, Protection, Tax, Financial, Aspects, cpe, cpa, online course
To view Learning Objectives, please Click here.
Chapter 1 - Introduction to Asset Protection<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Situations That Create Danger
Sources of Lawsuits
Basic Protection Concepts
Types of Creditors
Evading Creditors
Employee Death Benefit - §101(b) Repealed
Estate Taxes - §2042 & §2035(a)
Community Property Gift Danger
Regulations Restrict Private Annuities
Contractual Format
Policy Ownership & Premium Payment
Entity & Cross-Purchase Agreements
Tax Consequences - Cross-Purchase Agreements
No Dividend Danger
Tax Consequences - Entity Purchase Agreements
Dividend Danger - §302
Exception to Dividend Treatment
Constructive Ownership (Attribution) Rules
“Estate/Beneficiary” Rule
“Family/Trust/Corporation” Rule
Using the Buy-Sell Agreement to Set Value
Buy-Sell Agreements - §2703
Exceptions to §2703
Arms-Length Bargain
Substantial Modifications
Purchase Price & Terms
Marketability Problems
Controlled Disposition
Sole Shareholder Planning
One-Way Buy-Outs
Chapter 3 - Asset Placement
Ownership Vehicles & Entities
Individual Titles & Sole Proprietorship
Timing & Domicile
Tax Basis Advantage
Categories of C Corporations
Personal Holding Company - §541
No Pass Through
Getting Money Out of the C Corporation
Personal Service Corporation - §269A
The S Corporation - §1361
Minors as Shareholders
Bequests & Estate Ownership
Trusts as Shareholders
S Corporation Assets
Built-In Gains Tax - §1374
Incorporation of a Farm
Land Partnership Advantage
Foreign Trusts - §679
Grantor Trust Rules - §§671 through 679
Asset Protection Trusts - APTs
Grantor Trusts - §671 to §678
Irrevocable Trust Taxation
Deduction of Estate Planning Expenses
Deductibility of Death Expenses
Domestic Trust Exemptions
Outright to Spouse
Marital Deduction (QTIP) Trust
“A-B” Format
“A-B-C” (QTIP) Format
Valuation & Tax Basis
Choice of a Trustee
Corporate Trustee Factors
Individual Trustee Factors
Percentage Interests
No Survivorship
Allocation of Income & Deduction
Partnership Recapitalization
Two Class Format
Phantom Income to Creditor
Estate Savings
Family Partnership Requirements
Recognizing a Partner
Donee as a Partner
Trusts as Partners
Purchased Interests
Capital Interest in the Partnership
Capital as a Material Income Producing Item
Family Partnerships Not Within §704(e)
Real Estate Family Partnerships
Business Family Partnerships
Structuring the Family Partnership
Outside Basis & Debt Share Advantage
Substantial Economic Effect Rules
Substitute for Family Limited Partnership
Retirement Fund Protection in Bankruptcy
Chapter 4 - Bankruptcy
Median State Income Test
Chapter 13 "Superdischarge"
Subordination Of Ad Valorem Tax Liens
Interest on Tax Claims
Chapter 13 - Wage-Earner Plan
Suspension of Statute of Limitation
Allocation of Tax Payments
Super Priority Claims
Tax Claim Determination
Priority of Tax Claims
Second Priority Tax Claims
Third Priority Tax Claims
Four Generates Priority Eight Tax Claims
Eighth Priority Tax Claims
Tax Attribute Carryovers
Termination of the Estate
Transfers to Debtor
Partnership & S Corporation Interests
Request for Prompt Determination of Liability
Tax Year Election
Annualizing Taxable Income
Later Bankruptcy of Spouse
Transfers between Debtor & Estate
Net Operating Loss Carryback Limitation
No Separate Estate
Exemption Return Filing
§354, §355, & §356
Corporate Liquidations under Chapter 7
Carryover of Tax Items - §381 & 382
Bankruptcy Exception
Reduction of Carryforwards
Section 269 Presumption
Property & Equity Covered
Who Can Homestead?
Chapter 5 - Avoiding Tax on Debt Cancellation & Foreclosure
Order of Exclusions
Bankruptcy Case Exclusion - §108(a)(1)(A)
Insolvency Exception - §108(a)(1)(B)
Qualified Farm Debt Exclusion - §108(a)(1)(C)
Qualified Farm Debt - §108(g)(2)
Qualified Person - §108(g)(1)
Real Property Business Debt - §108(a)(1)(D)
Student Loan Exception - §108(f)
Purchase Money Debt Reduction Exception - §108(e)(5)
Cancellation of Deductible Debt Exception - §108(e)(2)
Reduction of Tax Benefits (Attributes) - §108(b)
General Ordering of Tax Attribute Reduction
Depreciable Property Election
Timing of Basis Reduction
Limit on Basis Reduction
Recapture of Basis Reductions
Special Basis Reduction Rule for Qualified Farm Debt
Basis Reduction Order
Allocation of Debt-Discharge Income
Corporate Stock-For-Debt Rule
Token Share Inclusion
Workout Inclusion
Recapture of Gain on Later Sale
Debt Contributed to Capital
Debt-For-Debt Exchange
Earnings & Profits
S Corporation Bankruptcy
Adjustments to Shareholder’s Basis in Debt
Bankruptcy Estate as Shareholder
Mortgage Debt Relief Act of 2007 (Expired)
Mixed Indebtedness
Amount Realized On Sale or Other Distribution of Property
Timing & Character of Gain or Loss
Lender’s Tax Impact
Discounted Acquisition of Debt
Transactions Involving Related Parties
Chapter 6 - Divorce Settlements & Divisions
Uniform Premarital Act - The California Example
Permitted Items of Agreement
Unenforceable Items
Divorce Settlements - The Tax Trap
Application of §1041
Mandatory Scope
Property vs. Income
Divorce or Separation Instrument
Gift Variation
Property Transferred In Trust
Basis in U.S. Savings Bonds
Negotiated Property Divisions
Adjudicated Property Divisions
General Rule - Immediate & Specific
Notice & Record Keeping
Purchases Between Spouses
Deferral & Exclusion of Gain
Business & Investment Property
Installment Sale of Assets
Selected Asset Divisions
Section 302 Redemption
Section 736(a) Payments
Effect on Recipient
Section 736(b) Payments
Exclusions From §736(b) Treatment
Deferred v. Present Division of Benefits
Deferred Division Arguments
Present Division or Alternate Property Arguments
IRA Deduction Limit
Divorce Distributions
Amounts Not Rolled Over
Military & Civil Service Pensions
Chapter 7 - Protecting Assets from Old Age & Catastrophic Illness
Gifting the Residence - General Rule
Spousal Transfers
Limited Trust Exceptions
Criminalization of Medicaid Asset Transfers