other on-demand webinars & self-study

Is this you? You’ve taken classes about like-kind exchanges and think you know the concepts, but when it comes time to actually enter the transaction into your software you suddenly feel lost. It’s not your fault! To complete like-kind exchange calculations you really only need 6 numbers:   

• FMV of the relinquished property
• FMV of the replacement property 
• Basis of the old property 
• Loan on the relinquished property
• Loan on the replacement property
• Total expenses from the settlement statements   

You know where to get all those numbers, right?  So why does your software make it so hard?!? And when a client asks about the tax ramifications of doing a like-kind exchange does it take you hours to run all the possible scenarios?  In this class, a simple worksheet and a checklist to lead you through the process will solve both of these problems for you, and you will gain a new understanding of the basic concepts, which will allow you to quickly provide your clients with accurate advice about the outcome of their planned exchanges. 

  All self-study courses are delivered electronically. 

 When a taxpayer dies, their tax attributes die with them…or do they?!? Capital loss carryovers, net operating losses, suspended passive losses, charitable contribution carryovers, minimum tax credits, these are just a few of the tax attributes that may be lost because of a taxpayer’s death, but with proper application of the rules and some timely planning and advice for the surviving spouse, you may be able to take advantage of these attributes rather than losing them. Understanding the rules about use of tax attributes after death will allow you to advise your clients how to take full advantage of their tax attributes. 

Have you ever had a client who was not depreciating their rental property? Or one who was depreciating the land as well as the building?  The Form 3115 is the way you must make corrections in these types of situations. Many preparers had their first exposure to Form 3115 when they filed one for a client who was affected by the new personal property regs issued in 2014. Most of those taxpayers were able to file a "Short Form 3115", but in other situations where filing a Form 3115 is beneficial to a client, you must complete the entire 8-page form. We'll dissect this complex form line-by-line and determine what all that incomprehensible language means. More importantly, you’ll get some valuable templates and learn some amazing shortcuts that will help you complete this 8-page form in just minutes. 

All self-study courses are delivered electronically.

No audio is included with this course.

IRS course # UD2VU-T-00076-19-S

CTEC course # 1008-CE-1104

Updated October 2019

IRS Course # UD2VU-T-00072-19-S

   CTEC Course # 1008-CE-1100    

Updated October 2019

IRS:  UD2VU-T-00079-19-S

CTEC:  1008-CE-1107

Updated November 2019 

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From birth to college graduation the cost of raising a child is astronomical, but so are the possible tax benefits! We’ll follow a child from birth or adoption through preschool, daycare, the Little League years, camps, braces, private school, working in Mom and Dad’s business, contributing to their first IRA, buying their first car, college (including tax-benefits of different housing options), landing their first real job, paying off those student loans, all the while looking for possible planning opportunities to obtain maximum tax relief for their parents. We’ll find ways to help families of all income levels reduce their tax liabilities. With some creative planning, your clients may decide they don’t want those little tax deductions to leave the nest…  

All self-study courses are delivered electronically.

No audio is included with this course.

IRS:  UD2VU-T-00080-19-S

CTEC:  1008-CE-1108

Updated December 2019

Airbnb. Uber. Zipcar. Ebay. These are just a few of the new business models that are a part of the “Sharing Economy”, an economic system in which assets or services are shared between private individuals, either free or for a fee, typically by means of the internet. This trend in business is extremely popular with the millennial generation, as is the “Gig Economy”, an environment in which temporary positions are common and organizations contract with independent workers for short-term engagements. And don’t forget about the “Digital Economy”, including Bitcoin, that those same millennials are using to pay for these services. In this class we’ll learn how to properly report all these “new” economies on a tax return, including determining whether they qualify for the new §199A 20%QBI deduction.

All self-study courses are delivered electronically.

No audio is included with this course.

Roommate… Rental to family member… Occasional rental… Vacation home… Bed and Breakfast… Less than 7 day average rental… Less than 14 days personal use… Extraordinary services provided… Foreign exchange student… Less than FMV rent… Passive loss limitations… 280A limitations… Joint ventures… The list of complications is endless. And now we also have to determine how the new §199A 20% QBI deduction will apply to these activities! Learn how to handle all these glitches using an AMAZING flowchart that will lead you to the correct answer step-by-step.

All self-study courses are delivered electronically.

No audio is included with this course.

All self-study courses are delivered electronically.

No audio is included with this course.