Taxes

The income tax has made liars out of more Americans than golf. — Will Rogers

• Tax Structure: Tax Base, Tax Rate, Proportional And Progressive Taxation
• Tax Policy Objectives
• Types of Taxes
• Tax Basis

Income Taxation

• Tax Formula to Determine Taxable Income from Gross Income
• Itemized Deductions and the Standard Deduction
• Personal and Dependency Exemptions
• Qualifying Child and Qualifying Relative
• Filing Status
• Gross Income, Tax Year, and Accounting Methods
• Capital Gains and Losses
• Holding Periods For Property
• Kiddie Tax
• Taxation of Dividends
• Taxation of Alimony, Separate Maintenance Payments, and Child Support
• Imputed Interest On Below-Market Loans
• Taxation Of Social Security Benefits and Tier 1 Equivalent Railroad Retirement Benefits
• Passive Activity and At-Risk Limitation Rules
• Passive Activity: Material Participation Tests
• Alternative Minimum Tax (AMT) for Individuals
• Liability Relief On Joint Returns: Innocent Spouse Relief, Separation Of Liability, Equitable Relief, Relief From Liability Arising From Community Property Law, and Injured Spouse Claims for Refund

Tax Credits

• Tax Credits
• Earned Income Credit (EIC)
• Child Tax Credit
• Credit for Child and Dependent Care Expenses
• Credit for The Elderly and Disabled
• Education Tax Credits: American Opportunity Credit, Hope Scholarship Credit, Lifetime Learning Credit
• Adoption Credit for Qualified Adoption Expenses
• Retirement Savings Contribution Credit (Saver's Credit)
• The Retirement Savings Contribution Credit—Not The Bonanza That It Seems
• Foreign Tax Credit (FTC)
• Residential Energy Credits

Other Tax Topics

• Statute Of Limitations For Tax Penalties and Refunds
• Tax Penalties

Business Taxes

• Home Office Deduction
• Tax Classifications For Workers: Employees, Independent Contractors, Statutory Employees, And Statutory Nonemployees
• Misclassifying Workers as Independent Contractors
• Net Operating Losses (NOLs)
• Section 179 Deduction

Gratuitous Transfer Taxes

• Federal Gift Tax – Overview
• Gross Estate
• Estate Taxes
• Generation-Skipping Transfer Taxes
• Gift, Estate, And Generation-Skipping Transfer Tax Calculations
• Reducing Gift, Estate, And Generation-Skipping Taxes
• Why the Estate Tax?

The only difference between death and taxes is that death doesn't get worse every time Congress meets. — Will Rogers