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Self-Study — Course Detail

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American Recovery & Reinvestment Act of 2009
Danny Santucci
Copyright© 2009

Course: 2137   Version 0902

NASBA Category:     Taxes     CPE Credits 4
CFP Board-accepted credits: 2
Level: Basic  (80 pages)
Prerequisite: There are no prerequisites.
Advance Preparation: None.


Course Description
This course focuses on key tax provisions enacted under the $800 billion American Recovery and Reinvestment Act of 2009. It analyzes the tax issues in President Obama’s massive economic and recovery agenda that affect individuals and businesses.

Individual provisions include a new “making work pay” tax credit, an AMT “patch,” a sales tax deduction, tax credits for education, a first-time homebuyer credit, and enhanced tax benefits for energy-efficient improvements to homes.

Business provisions include the treatment of such issues as extended bonus depreciation, a limited 5-year net operating loss carryback period, small business expensing and capital gains, estimated tax payments, and COBRA coverage.

In addition, the course discusses new energy incentives and changes made to former energy regulations.

Table of Contents

Learning Objectives
Upon successful completion of this course, participants will be able to:
  • Analyze and apply the individual tax provisions of the American Recovery and Reinvestment Act of 2009 (“Act”) by:
    • Determining and claiming the “Making Work Pay” tax credit, the economic recovery payment to Social Security, and SSI recipients and the EITC;
    • Listing and describing Act modifications to the 2008 Stabilization Act child tax credit provisions, the Hope credit (renamed the American Opportunity tax credit), tuition saving accounts, the homebuyer tax credit, and the low-income housing tax credit; and
    • Accounting for and computing 2009 unemployment compensation taxation, allowable qualified motor vehicle deductions, and 2009 individual AMT exemption amounts.
  • Analyze and apply the business tax provisions of the American Recovery and Reinvestment Act of 2009 (“Act”) by:
    • Discussing three changes to the bonus depreciation provision (§168(k)), listing dollar caps for vehicles, and identifying a special election for corporations;
More Learning Objectives




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