Installment Sales - VIRTUAL
2.00 Credits
Member Price $135
Non-Member Price $185
Overview
This course defines the terms used in installment sales and explains the tax effects, including depreciation recapture, of reporting an installment sale. It defines the types of sales which do and do not qualify and how to report a sale, a recapture and a renegotiated sales price.
Prerequisites
1 year tax preparation experience
Designed For
CPAs working in Tax
Objectives
At the conclusion of this class the student should understand sales that do and do not qualify for installment tax treatment. We discuss, with over a dozen example completed forms, repossessions, renegotiations and contingent installment sales. We show the student how and when to elect out of installment treatment and discuss related party sales as well as their subsequent resales. The course ends with a comprehensive example and discussion of structured installment sales.
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