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Tax

About this topic

Based on the AICPA Competency Framework: Tax and Personal Financial Planning, these learning resources - primarily focused on US tax - are designed to help CPAs understand the knowledge and skills necessary to address the needs of their clients and firms.

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Sale of a residence in a QPRT

This item explores what happens if the residence is sold during the QPRT term.

Article Gift tax Foundational

Canceled debt is partially excludable

This article provides insight on why a married couple's interest in their retirement plan was not considered an asset for purposes of the COD insolvency test.

Article Individual income taxation Foundational

Tax Court upholds non–safe-harbor reverselike-kind exchange

The Tax Court’s decision in Estate of Bartell alleviates uncertainty about structuring a reverse like-kind exchange intended to qualify for nonrecognition treatment.

Article Allocations of profits & losses Intermediate

Sec. 743(b) adjustment complications in multitier partnerships

Sec. 743(b) adjustments are complex, and multitier partnership structures only exacerbate that complexity. See an illustration of applying the Sec. 743(b) adjustments.

Article Contributions, distributions & basis Intermediate

Q&A: Don’t believe these Millennial myths

Generational expert Jason Dorsey recommends ways employers can recruit (and keep) members of the often-misunderstood Millennial generation.

Article Team building Intermediate

More R&D tax help

This article discusses the research tax credit.

Article Credits Intermediate

Foreign National Tools

These tools allow practitioners to identify planning opportunities.

Tool Foreign nationals Intermediate

Cryptocurrency and taxes

This article discusses the IRS approach to cryptocurrency.

Article IRS practice & procedure Foundational

How firms can overcome challenges and develop a diverse workforce

Recruiting a diverse workforce can be a challenge. This article discusses how the challenge can be overcome with a commitment to building relationships.

Article Team building Advanced

S corporation owner-employees: Who controls income?

This article illustrates the importance of drafting agreements so the income earned is paid to the correct party when an S corporation is involved.

Article S corporation income taxation Intermediate

Tax issues for nontraditional households

This article explores the income tax issues that arise from owning or living in a home with a person other than a spouse.

Article Deductions Foundational

How to manage sales and use tax risk

This article discusses how an external sales and use tax policies and procedures review can help in avoiding problems before they occur.

Article Tax computation Intermediate