This course explores many tax issues that arise from filing for bankruptcy. Also addressed are asset protection for the tax practitioner and medical costs covered under ยง213. There is an examination of property settlements and other transfers incident to divorce. A tax surprise for many taxpayers is the taxability of debt cancellation and repossessing property sold on the installment method can also be taxable. Finally, practitioners are brought up-to-date information on tax issues affecting estate planning and business issues.
Course Publication Date:
May 25, 2023
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$30.00!
| Author: | Danny Santucci |
| Course No: | TAX-TBFP-5363-M |
| Recommended CPE: | 3.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | General understanding of federal income taxation |
| Advanced Preparation: | None |
| Recommended Field of Study: | Taxes
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Learning Objectives
- Identify common types of bankruptcy filings and related provisions that impact individual or business filings.
- Specify marital property transfers and asset protection strategies including insurance and organization structures to achieve protection and access objectives while avoiding fraudulent transfers.
- Recognize medical costs and casualty and theft losses that may be deductible.
- Identify debt cancellation, foreclosure, and the deductibility and reporting of bad debts.
- Recognize elderly, disability, and estate planning programs and provisions to be considered for catastrophic and death planning purposes.