Overview
Stay current with the latest federal tax law changes and court cases. Expect a straightforward yet compelling overview of hot topics like classifying taxpayer activities as a trade/business or investment, substantiating charitable contributions, understanding when lawsuit settlements are tax-free, navigating complex rules for disability payments, identifying abusive tax shelters, distinguishing alimony from property settlements, recognizing hobby loss pitfalls, and properly proving deductible business expenses.
Learning Objectives
- recall key factors in determining if an activity is a trade/business vs investment
- identify substantiation requirements for charitable contributions
- recognize when lawsuit settlement proceeds are tax-free under IRC §104
- distinguish tax rules for disability payments from employer vs employee
- categorize payments as alimony vs property settlement for tax purposes
- select proper methods for substantiating business expenses based on court cases
- recognize recent tax court decisions and IRS guidance on relevant topics
Tax Year: 2023
Designed For
CPAs, EAs, CRTPs, and other accounting, tax, and finance professionals
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