Tax Planning for Purchases and Sales of Property: Part 2 (Currently Unavailable)
Author: Greg White
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2025 to receive credits
Join expert, Greg White, CPA, as he covers important tax planning ideas for property purchases and sales. We’ll cover key concepts like increasing tax deductions on the purchase of property and decreasing tax on the sale of property.
Publication Date: May 2022
Designed For
New and experienced practitioners.
Topics Covered
- Cryptocurrency
- §1231: Superhero Among Code Sections
- §1231 Basics
- Five Takedowns
- Goal of All Sellers
- Allocations → Land
- Land Improvements
- §1245 Property — Strategies
- Selling the Assets of a Business: The "Cascading" Method of §1060
- Slop Goes to Goodwill
- Like-Kind Exchanges
- Our Job: Hand Off to the QI
- Intent Replacement Properties
Learning Objectives
- Recognize how to determine when like-kind exchanges make sense
- Calculate recapture income on sale of property
- Identify when qualified opportunity funds make sense
- Recognize when to report income for fair market value, if someone pays you for services with crypto
- Identify the most common §1231 asset
- Recognize which property is excluded from §1231
- Identify the preferred last order of allocation from a seller's standpoint
- Identify an example of a Class II asset
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
