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Secure Transaction Tax, Bankruptcy, and Financial Problems
Format
Self-Study
Course Level
Overview
CPE Credits
3 Credits: Taxes
Course Description
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 §213. 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.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- 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.
Course Specifics
8212739
March 8, 2023
General understanding of federal income taxation.
None
80
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02220-22-S
IRS Federal Tax Law Credits: 3
CTEC Course Number: 2071-CE-1556
CTEC Federal Tax Law Credits: 3
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …
QAS Self-Study
