CFP 304 - Tax Planning
This course covers taxation for individuals, sole proprietorships, partnerships, and corporations, as well as the tax aspects of investments, insurance, annuities, and retirement planning. Students will be able to identify the likely tax consequences of personal and business financial activities and select appropriate and lawful tax-minimizing tactics and strategies.
Online Course Modules included in this course:
- Income Tax Law Fundamentals
- Gross Income
- Income Tax Fundamentals and Calculations
- Tax Accounting Methods
- Alternative Minimum Tax (AMT)
- Cost Recovery Concepts
- Introduction to Tax Consequences on Sale of Assets
- Like-Kind Exchanges and Involuntary Conversions
- Income Taxation of Trusts and Estates
- Tax Characteristics of Entities
- Passive Activity
- Charitable Contributions and Deductions
- Tax Implications of Changing Circumstances
- Tax Compliance
- Tax Management Techniques
Prerequisites & Notes
Sophomore status within student’s current baccalaureate program at home institution.
For this 8-week course, students will engage in various weekly asynchronous activities on Brightspace (projects, videos, threaded discussions) and cooperative peer-project activities at a minimum of 6-hours weekly asynchronous engagement (48hrs). Students should expect to devote 12 additional hours per week reading, writing, collaborating, and preparing assignments for this 8-week accelerated course (96hrs).
Course Learning Objectives
Upon completion of this course, students are expected to be able to:
- Understand the general principles income taxation
- Understand concepts used to do income tax calculations including Alternative Minimum Tax, self-employment taxes and Passive activities and charitable contributions
- Understand the tax consequences of property and investment transactions including basis consideration, Cost recovery, sales and Like-Kind Exchanges
- Understand the tac characteristics of various entities and their relationship to individuals
- Understand the income taxation of trusts and estates
- Understand tax compliance and management
Credits: This course meets the requirements for a 3-credit undergraduate course delivered over an 8-week period of time.
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