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NOTE: This course description has been revised to include updates to the course material for 2022. If you have any questions, please contact firstname.lastname@example.org
Feb 2, 2023 @ 1:00pm - 5:00pm
Feb 9, 2023 @ 1:00pm - 5:00pm
In the world of tax, even straightforward and seemingly benign situations can trigger unintended adverse income tax repercussions. This seminar will equip participants with the skills to identify, prevent, and manage such outcomes.
Negative consequences represent an unfortunate part of life. While many professionals can proactively anticipate results, some consequences occur unexpectedly. In the world of tax, even straightforward and seemingly benign situations can trigger adverse income tax repercussions. Accordingly, this seminar will equip participants with the skills to identify, prevent, and manage such outcomes.
In order to deliver the seminar in a realistic manner, the session introduces topics by starting with common transactions or events before presenting the unfortunate tax result. Subsequently, the seminar explains the income tax rules and reasons behind the negative result ensuing from each particular situation. Participants receive suggestions to manage and mitigate such a problem as well as tips for recognizing relevant precursors and triggers. Finally, the seminar provides participants with notes that elaborate on detailed background information for each situation.
Participants enrolled in the seminar will gain the ability to
- Identify triggering conditions of income tax rules which might apply in common transactions.
- Recognize the significance of the applicable income tax rules.
- Assess the degree of exposure to adverse consequences; and evaluate the potential impact.
- Strategize to prevent, manage or mitigate unintended income tax outcomes.
This seminar will incorporate several topics, including
- Investments in a corporation
- Intercorporate dividends and exposure to taxation as a capital gain
- Individuals selling shares to non-arm’s length corporations
- Family income splitting
- Select obstacles to claiming the small business deduction
- Stop-loss rules
- Scenarios involving unfortunate income tax results
Who Will Benefit
Although most tax practitioners will benefit from this seminar, the session particularly targets CPAs—not specialized in tax—who work in an environment with income tax consequences.
Participants enrolled in this seminar should possess a working knowledge of general corporate and personal income tax.