School of Continuing Studies

XCPD-022 Tax Planning

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About the course

The application of income tax laws to the transactions of individuals and businesses is important in planning for the avoidance, minimization, and deferral of taxation. This course examines the federal income tax system with particular reference to the income taxation of individuals, sole proprietorships, partnerships, LLCs, and corporations (including S corporations).

Course Objectives

Upon completing this course, successful students will be able to:

  • Gain a firm grasp of fundamental tax concepts.
  • Analyze situations involving the individual tax computation and recommend basic individual income tax planning strategies.
  • Learn about the income tax implications of persons, property and other entities to include tax consequences of life insurance, annuities, and securities.
  • Obtain increased practical knowledge of the tax laws/audit process and understand situations involving tax traps, penalties, penalty taxes, special tax computations, and other taxable events.

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