Chapter 31: Complex Problem Dissections

In this section

• Ethics, Professional Responsibilities, and Tax Procedures
  Delve into real-life ethical dilemmas, professional responsibilities, and key tax procedures that CPAs must navigate, including deep dives into Circular 230 and IRS controversies.
• Advanced Individual Tax Compliance and Planning
  Comprehensive strategies for multi-year planning, capital loss carryovers, and AMT considerations, empowering CPA candidates with advanced individual tax compliance insights.
• Entity Tax Compliance (C Corps, S Corps, Partnerships)
  Discover comprehensive insights into complex multi-entity tax compliance for C Corporations, S Corporations, and Partnerships, including consolidated returns, flow-through basis calculations, and special elections.
• Entity Tax Planning (Formation, Liquidation, Restructuring)
  Explore key strategies and tax implications for entity formation, liquidation, and corporate restructuring, including hypothetical examples, buy-sell arrangements, and key code sections.
• Property Transactions, Nontaxable Exchanges, Depreciation Recapture
  Explore in-depth tax treatments for real estate, vehicle trade-ins, casualty losses, and depreciation recapture. Understand nontaxable exchanges (Sections 1031 & 1033), gain and loss computations, and recapture concerns for different property types.