US CPA Exam Preparation: Tax Compliance and Planning (TCP)
Prepare for Tax Compliance and Planning, the US CPA discipline section for candidates building a career in tax.
About this course
Prepare for Tax Compliance and Planning, the US CPA discipline section for candidates building a career in tax. The course follows the published content areas: individual tax compliance and planning with personal financial planning, entity tax compliance, entity tax planning, and property transactions.
You will build on the federal tax knowledge tested in REG and take it further, from gift taxation and planning for individuals to entity formation, distributions, liquidation and multi-jurisdictional issues. Timed practice with multiple-choice questions and task-based simulations runs throughout.
What you'll learn
- Apply advanced tax compliance and planning for individuals, including personal financial planning.
- Determine the gift tax consequences of transfers.
- Prepare tax compliance calculations for C corporations, S corporations, partnerships and tax-exempt organisations.
- Plan the tax consequences of entity formation, operation, distributions and liquidation.
- Identify multi-jurisdictional tax issues, including state and local and international considerations.
- Analyse the tax treatment of property transactions and cost recovery.
- Practise exam-style multiple-choice questions and task-based simulations under timed conditions.
Curriculum
- Choosing a discipline section
- Exam structure and question types
- Content areas and skill levels
- Building a personal study plan
- Advanced gross income and deduction issues
- Tax planning for individuals
- Passive activity and at-risk rules
- Alternative minimum tax considerations
- Personal financial planning concepts
- Retirement and education planning
- Gift tax rules and exclusions
- Gift tax compliance
- Corporate taxable income and adjustments
- Consolidated returns
- Corporate distributions
- Accumulated earnings considerations
- Partnership compliance and allocations
- S corporation compliance
- Tax-exempt organisation reporting
- Trusts and estates basics
- Choice of entity
- Formation and contributions
- Distributions and redemptions
- Liquidations and reorganisations
- State and local nexus
- Apportionment and allocation
- International tax considerations
- Planning across jurisdictions
- Cost recovery planning
- Dispositions of business property
- Like-kind exchanges
- Installment sales
- Timed multiple-choice sets
- Task-based simulations
- Full mock exam
- Reviewing errors and weak areas
Who it's for
CPA candidates who have chosen TCP as their discipline section, typically those building a career in tax.
Before you start
- A sound grounding in US federal taxation, such as that covered in REG preparation.
- English good enough to work comfortably with professional tax texts, as the exam is taken in English.
Prepares for
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