Like Kind Exchanges - VIRTUAL
2.00 Credits
Member Price $135
Non-Member Price $185
Overview
This course reviews the advantages and disadvantages of like kind exchanges. It reviews all 4 types of exchanges; the deferred exchange, the simultaneous exchange, the build-to-suit exchange and the reverse exchange, as well as the new combination reverse and forward exchange. It also covers personal property exchanges, traps and pitfalls in exchanges, and works through a number of examples illustrating compliance.
Prerequisites
1 year tax preparation experience
Designed For
CPAs working in Tax
Objectives
Upon completion of this course you will be able to describe the various types of exchanges that may be made and explain general concepts of like kind exchanges to clients. You will be able to determine whether a second residence is for personal or business use, or both, and whether or not it qualifies for a like kind exchange. In addition to understanding when particular issues affect an exchange transaction and the proper treatment, participants will learn the five requirements for a transaction to qualify as a like kind exchange and be equipped to prepare tax returns involving them. You will become familiar with delayed, deferred, and reverse exchanges, the concept of related parties, as well as the requirements of personal property and cost seg studies. This course will provide an overview and explanation of Tenants in Common, and Delaware Trusts and illustrate numerous completed Forms 8824.
Preparation
None
Leader(s):
Leader Bios
Bob Jennings, Owner, TaxSpeaker
Bob Jennings, CPA, EA, CFP®, is a nationally renowned author and speaker, presenting continuing education classes to over 100,000 tax professionals over the last 20 years all over the world. Jennings is a licensed CPA (Indiana) and an IRS Enrolled Agent. He is also a prolific author and has published over 60 professional articles in such magazines as the Journal of Accountancy as well as many other professional and consumer publications. Jennings annually authors several tax, accounting and technology manuals and is a regular columnist for FoxBusiness.com. As the founder of his own regional CPA firm in 1984, Jennings has dealt exclusively with individual and small business financial issues for over 30 years. Jennings appears regularly in the media and has been quoted extensively by numerous publications. He has recorded an extensive number of information videos, DVD’s and instructional clips available on his website at TaxSpeaker.com.
Non-Member Price $185
Member Price $135