MSF 510 - Income Tax Planning

3.00 credits.

This course introduces all of the income tax planning topics a financial planner must master in order to become a Certified Financial Planner®. The course provides a solid foundation on federal income tax planning, such as gross income, exclusions from gross income, deductions, tax credits, capital gains and losses, taxation of life insurance and annuities and income taxation of partners, partnerships, corporations and shareholders. Specifically, the course offers in-depth discussions on the history and administration of the federal income tax system, taxable and nontaxable sources of income, the use of available deductions and credits to reduce tax balances, nontaxable exchanges of property and life insurance, and alternative tax systems. In addition, business entity selection, taxation and planning will be covered. Discussions throughout the course seek to address both personal and business needs of clients and prepare students to succeed in the capstone case study course.