Financial Planning Certification Exam Lessons Part 4: Tax Planning

Over 3 hours and 19 Minutes of Audio Instruction

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Part 1: Professional Conduct, Regulation, and Planning Principles

Part 2: Insurance, Benefits, and Risk Management

Part 3: Investment Planning

Part 4: Tax Planning

Part 5: Planning for Retirement

Part 6: Estate Planning

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Unlock Your Tax Mastery with Our Audio Lessons for Financial Planning Certification Exam - Part 4!

Are you ready to conquer the Taxation section of your Financial Planning Certification Exam? Look no further! Our groundbreaking series of Audio Lessons is here to guide you through most of the twists and turns of the tax landscape.

Explore the intricacies of tax filing statuses, deductions, and credits with our comprehensive lessons.

Study on the go! Whether you're commuting, working out, or relaxing at home, our audio format allows you to learn anytime, anywhere.

Dive deep into essential topics, from basics of tax to alternative minimum tax (AMT), like-kind exchanges, and more.

Master tax concepts with ease and confidence, thanks to our expertly crafted content delivered by seasoned professionals.

Prepare to excel in your exam and embark on a journey toward professional success in the financial planning realm.

Don't just study – experience mastery! Enroll now and unleash your tax expertise with our Audio Lessons for Financial Planning Certification Exam - Part 4!

Table of Contents

Lesson 1: Basics of Tax (23:53)
- Filing Status
- Gross Income/AGI
- Standard Deduction/Itemized Deduction
- Investment Interest Deduction
- Casualty Losses
- Miscellaneous Deductions
- Home Office Deduction
- Entertainment Expenses/Personal and Dependency Exemptions
Lesson 2: Rate Schedule & Special Taxes (18:58)
- Rate Schedule
- Kiddie Tax
- Self-Employment Tax
- FICA Tax
Lesson 3: Tax Credits & Filing Requirements (21:55)
- Tax Credits
  - Saver’s Credit
  - Child Care Credit
  - Child Tax Credit
  - Adoption Credit
  - Foreign Tax
- Filing Requirements
- Filing Penalties
Lesson 4: Business Entities (24:20)
- Business Entity Types
  - Sole Proprietorship
  - Partnerships (general partnership)
  - Limited Liability Company (LLC)
  - Limited Liability Partnerships (LLP)
  - Corporations
    - C-Corps & S-Corps
    - Section 1244 Qualified Small Business Stock
    - Personal Services Corporation (PSC)
  - Limited Partnerships
Lesson 5: Taxation of Business Entities & QBI (19:05)
- Net Operating Loss
- Risk-free vs. Risky Business & Insurance
- Taxation of Entities, Owners, & Distributions
- Qualified Business Income (QBI)
Lesson 6: Basis & Depreciation (22:44)
- Basis
  - Original, Cost, & Adjusted
- Installment Sales
- Modified Accelerated Cost Recovery System (MACRS) vs. Straight-line Depreciation
- Depreciation Recapture
- Section 179 Deduction
- S-Corp Basis Adjustments
Lesson 7: Like-Kind Exchanges & Sale of Property (19:47)
- Taxation of Like-Kind Exchanges
  - Reporting, Rules, & Requirements
- Taxation of Sale of Property
  - Capital Gain/Losses Netting
  - Sale of Residence (Code Section 121)
    - Divorce under Section 121
    - Capital Loss: Primary Residences
Lesson 8: Alternative Minimum Tax (AMT) & Passive Activities (26:51)
- Alternative Minimum Tax (AMT)
  - Preference Items
  - Depletion
  - Add Back Items
- Passive Activity
  - RELPs
  - PTPs
- Material vs. Active Participation
Lesson 9: Working Interest, Special Circumstances, and Charitable Contributions (20:02)
- Oil & Gas Working Interest
- Special Circumstances for Taxes
  - Widowed
  - Divorce
    - Property Division
- Charitable Contributions
  - Qualified Entities
  - Ordinary Income
  - Substantiating Requirements
  - Qualified Charitable Distributions (QCDs)

Learn More about the full set if Financial Planning Certification Audio Lessons at https://fplessons.com/

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