Chapter 3: Gross Income & Adjusted Gross Income

In this section

• Advanced Inclusions & Exclusions (Fringe Benefits, Compensation Structures)
  Explore complex fringe benefits, noncash compensation, and essential rules for discerning timing and tax treatment of ISO vs. NSO. Learn about key exceptions, including foreign earned income exclusions, to ensure robust CPA Tax Compliance & Planning readiness.
• Complex Retirement Contributions & Phaseouts (HSA, SEP, SIMPLE)
  Discover advanced strategies for Health Savings Accounts (HSAs), SEP IRAs, and SIMPLE IRAs. Learn about contribution limits, phaseout nuances, and penalty triggers to navigate complex retirement planning with confidence.
• Stock Options & Equity Compensation Nuances (ISO, NSO)
  Explore key differences in tax treatment for Incentive Stock Options (ISOs) vs. Nonqualified Stock Options (NSOs), including grant, vesting, exercise, and AMT pitfalls.
• Alimony Post-TCJA & Other Special Adjustments
  Explore major changes to alimony taxation under the Tax Cuts and Jobs Act, including real-life calculations and compliance insights for CPA candidates. This comprehensive guide covers the shift from payer deductibility to updated rules on divorce settlement timing, offering practical examples to ensure exam readiness.