Overview:
The Internal Revenue Code contains a vast number of elections available to taxpayers. Overlooking an election can result in adverse tax consequences to taxpayers and potential malpractice claims against their tax professionals. This survey course addresses the most critical tax elections that the CPA must know.
Objectives:
• To recognize critical tax elections available to various taxpayers: Individuals, business and non-profit entities and estates and trusts • To understand the process of making elections • Tools to avoid overlooking elections
Major Topics:
• Tax elections for various entities • Tax elections relevant for accounting matters • Tax elections involving special items
Major Topics:
• Tax elections for various entities • Tax elections relevant for accounting matters • Tax elections involving special items
Designed For:
CPAs, enrolled agents and tax preparers and tax personnel employed in the private sector.
Prerequisites:
None