Course ID: | FHCE 4230. 3 hours. |
Course Title: | Family Tax Planning |
Course Description: | Introduces students to current tax laws, regulations,
principles, and practices that affect families and individuals.
The perspective of this course is planning; namely, how families
as producers and investors can manage their tax liability
through proper financial planning. |
Oasis Title: | Family Tax Planning |
Prerequisite: | FHCE 3200 or FHCE 3200E or FHCE 3250 or FHCE 3250E or HACE 3200 or HACE 3200E or HACE 3250 or HACE 3250E |
Semester Course Offered: | Offered fall semester every year. |
Grading System: | A-F (Traditional) |
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Course Objectives: | 1)Understand the importance of tax planning in the overall
process of financial planning.
2) Demonstrate the ability to recognize tax related issues that
will help or hinder an individual's overall financial plan.
3) Demonstrate the ability to apply tax laws and principles to
specific situations.
4) Demonstrate a working knowledge of tax code provisions
relating to investing, retirement planning, and risk management.
5) Demonstrate the ability to utilize specific tax provisions in
developing a financial plan.
6) Understand the consequences of taxation alternatives.
7) Understand tax code provisions specific to families as
producers and investors. |
Topical Outline: | a) Tax calculation and types of Federal taxes
b) Overview of income, adjustments to income, deduction,
exemptions, taxable income, tax liability, credits, and payment
c) Tax law authority and reference sources
d) Personal investment taxation (focus on financial investments)
e) Treatment of various types of gains, losses, and exchanges
f) Passive activity rules
g) Family structure changes and tax implications
h) Children, divorce, and death tax implications
i) Tax planning through itemization
j) Family planning and tax credits
k) How different family related entities record and report
income
l) Home-based and self-employed taxation
m) Tax planning based on differences in tax treatment and
taxation of various forms of income
n) Alternative minimum taxation
o) Income tax compliance |