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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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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
Tax Planning for Aging Clients: Medical Expense Deduction for Home Improvements
It is common for aging homeowners to renovate their home to accommodate their disability. This article examines what qualifies for the medical expense deduction,
Article Deductions Foundational
Taxation of Gambling
This article discusses factors related to taxation of gambling winnings and losses including permitted deductions, records requirements, and special rules for...
Article Income Intermediate
Charitable Donations of Food Inventory
his article summarizes the regulations including the use of donated food, limitations on the deductions, and the opportunities.
Article Deductions Intermediate
Schoolteachers’ deduction no longer tardy
This article discusses the deduction for classroom expenses by educators, including qualified expenses, eligible educators, and calculating the deduction.
Article Deductions Foundational
Foreign Currency Straddles and Transactions Present Complex Tax Issues
With a focus on a foreign currency straddle transaction example, this article discusses the scope and application of Code secs. 1092, 1256, and 988.
Article Income Intermediate
Charitable IRA Distributions: A Great Opportunity
This article discusses what a “qualifying charitable distribution” is and explores the tax benefits of charitable IRA distributions.
Article Income Intermediate
Charitable Contributions of Artwork: An Important Primer
A number of tax planning opportunities are available when gifting artwork. This article provides some important considerations that donors should be aware of.
Article Specialized issues Foundational
Don’t let your clients miss out on the IRD deduction
Many practitioners still have some questions about when and how the IRD deduction is used. This article provides a refresher.
Article Deductions Intermediate
Bad News for Noncash Contributions
This article discusses a tax court opinion which clarifies the misconceptions taxpayers have about their charitable contributions of household items, etc.
Article Deductions Foundational
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