TAILIEUCHUNG - Lecture Taxation of individuals and business entities 2015 - Chapter 3: Tax planning strategies and related limitations

After completing this chapter, students will be able to: Identify the objectives of basic tax planning strategies; apply the timing strategy and describe its applications and limitations; apply the concept of present value to tax planning; apply the strategy of income shifting, provide examples, and describe its limitations;. | Chapter 3 Tax Planning Strategies and Related Limitations Learning Objectives Identify the objectives of basic tax planning strategies. Apply the timing strategy and describe its applications and limitations. Apply the concept of present value to tax planning. Apply the strategy of income shifting, provide examples, and describe its limitations. Learning Objectives (Cont.) Apply the conversion strategy, provide examples, and describe its limitations. Describe basic judicial doctrines that limit tax planning strategies. Contrast tax avoidance and tax evasion Basic Tax Planning Overview Effective planning requires consideration for both tax and non-tax factors In general terms, effective tax planning maximizes the taxpayer’s after-tax wealth while achieving the taxpayer’s non-tax goals 3 parties to every transaction: taxpayer, other party, and the government 3 basic planning strategies: timing, income shifting, and conversion Timing Strategies When income is taxed or an expense is .

• Kinh tế học
• Business entities
• Individual taxation
• Multijurisdictional taxation
• Transfer taxes
• Tax planning strategies
• Related limitations
• Urban market business entities
• Competitiveness of urban market business entities
• Market business entities
• Organization and management capacity
• Finance competence and business performance
• Essentials of taxation
• Business tax credits
• Corporate alternative minimum tax
• Limited liability entities
• Profits and distributions
• Entity legal classification
• Nontax characteristics
• Business income
• Accounting methods
• Operating partnerships
• Flow through entities
• The financial statements
• Business deductions
• Financial statements
• Loss limitations
• Property transactions
• Corporate taxation
• Nonliquidating distributions
• Corporate formation
• Taxable acquisitions
• Partnership interests
• Partnership distributions
• Operating distributions
• Post termination transition period
• Local taxes
• Income taxes
• Multinational transactions
• Taxing multinational transactions
• Wealth planning
• Tax rate structures
• Federal taxes
• Tax compliance
• Tax authorities
• Individual income tax
• Filing status
• Gross income
• Recognize income
• Individual deductions
• Deductions for AGI