This deep-dive session examines the federal income tax system, with
particular reference to the taxation of individuals and businesses.
Participants will also get an in-depth review of the various tax-related
aspects of investments, life insurance, annuities and securities.
Learning Objectives
Understand filing statuses available for individuals
Examine the financial planning implications of itemized deductions
Understand the income tax filing requirements for individuals and businesses
Classify businesses for income tax purposes according to the check-the-box regulations
Illustrate the benefits of income splitting
Discuss the tax limitations imposed on the tax-deductibility of gifts made to charity
Describe the requirements necessary to defer recognition of gain in a like-kind exchange under Section 1031
Identify the classification of assets for income tax purposes
Major Topics
Federal income tax system
Tax filing statuses and requirements
Tax deductibility of gifts
Section 1031
Asset classification
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Tax
CPE Field of Study
Taxes
3
Who Should Attend
Financial planners preparing for the PFS exam or who need a refresher on PFP skills
