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Ins and Outs of RMD
- Determine the starting date for typical taxpayers
- Understand the difference between eligible designated beneficiaries and non-EDB
- Determine the starting date for designated eligible beneficiaries
- Review the payout requirements of various retirement vehicles
- Understand the theory of calculating a RMD
- Recognize when a RMD and been missed and when requesting a waiver is appropriate
- Instructor
- Kathryn Keane
- Duration
- 100 minutes
- Prerequisite
- General understanding of federal tax law
- Advanced preparation
- None
- Delivery method
- Group Live
Description
RMD is confusing to so many especially when the account owner dies. This session reviews the RMD rules applicable to our clients.
Objectives
Upon completion of this course, you will be able to:
Details
The Tax Ramifications of Selling a Tax Practice
- Properly report the sale of intangible assets on the tax return
- Correctly report the sale of depreciable property on the tax return
- Allocate the sales price to assets in a bulk sale
- Understand steps necessary to close out the preparer's involvement in the tax practice as required by the IRS Comprehend the rules on liquidating a corporation
- Instructor
- Kathryn Keane
- Duration
- 100 minutes
- Prerequisite
- General understanding of federal tax law
- Advanced preparation
- None
- Delivery method
- Group Live
Description
This case study driven seminar examines the tax treatment of selling a tax practice. From the sale of the office equipment to the client list, this session prepares the 4797, covers the handling of the sale of 179 property in an entity as well as what happens with EFIN.
Objectives
Upon completion of this course, you will be able to:
Details
Dealing with Messy Rental Taxpayers
- Understand when a rental is a self-rental, short-term rental and an activity not engaged in for profit
- Recognize missed or incorrect depreciation
- Correctly prepare Form 3115
- Property computes the business use percentage of a mixed-use rental property
- Allocate Sales Price and Expenses of Sales among assets when a Rental Property is sold as a bulk item
- Correctly report the sale of a mixed-use Rental Property Properly calculate suspended rental losses and recognize the situations wherein those suspended losses
- Instructor
- Kathryn Keane
- Duration
- 200 minutes
- Prerequisite
- General understanding of federal tax law
- Advanced preparation
- None
- Delivery method
- Group Live
Description
How many of us have that new rental client visit us who doesn't know about depreciation or allocating expenses? This session examines using real life examples of fixing missed depreciation, allocating expenses and the dreaded sale of a rental property, including a disqualifying § 121 event.
Objectives
Upon completion of this course, you will be able to:
Details
CPE sponsor disclosure
The CPE associated with this education is provided by the Nevada NATP Chapter and is independent of national NATP sponsorship.
IRS sponsor number: 7KWA4
See our CPE sponsor page for more information on reporting.