THE TOOLS AND TECHNIQUES OF INCOME

TAX PLANNING

(3^rd Edition)

College Course Materials

Course Synopsis

This course presents a comprehensive, clear and concise explanation of the tools and the techniques involved in income tax planning. The first half of the course provides an explanation of the basic rules of the federal income tax system, such as calculation of tax, capital gains and losses, alternative minimum tax, and the taxation of business entities, trusts, and estates. In addition, the course also address the fundamental income tax concepts of basis, cost recovery, passive activity and at-risk rules, and more.

The second half of the course covers the ``techniques'' of income tax planning, which include the timing of income and deductions, conversion of income, alternative minimum tax planning, stock option planning, charitable planning, like-kind exchanges, planning for the sale or exchange of assets, and retirement planning. Each of the 9 planning chapters in this course takes the student step-by-step through the answers to questions such as: What is it? How does it work? What are the requirements? Where can I find out more?

The concise, well-organized format of the course allows the student not only to learn the material quickly, but to easily understand income tax rules and strategies.