BAF-CFE8004 - CFP - Income Tax Planning

Course Description

Examine the federal income tax system and how it relates to individuals and their financial planning. Discover how various incomes, deductions, tax credits, capital gains and losses, life insurance and annuities, and taxation of business entities can all affect your client's portfolio.

Course Outline

Functions of the Tax System-Legislative, Executive, and Judicial
Determination of Income Tax Liability
Gross Income: Inclusions
Gross Income: Exclusions
Itemized Deductions
Cost Recovery Deductions

Learner Outcomes

Upon completion, students will be able to apply the fundamentals of income taxation in the best interest of the client.

Notes

Method of Instruction: Lecture

Evaluation: Final Examination-There will be a final exam at the conclusion of each module. A minimum grade of 75% must be earned on all exams that are administered as part of the program. Students scoring 60% or higher on a final exam will be allowed one opportunity to retake the exam in an attempt to achieve a passing grade for that course module. Students who score below 60% on a final exam are required to retake the module the next time it is offered.

Prerequisites

CFP Certification Process Education Requirement