All Episodes
HS 321 Audio: Income Taxation 13th Edition — 71 episodes
11-4 Explain what is meant by depreciation recapture, and describe the election to expense certain depreciable business assets
9-2 Explain the rules regarding the deductibility of medical and dental expenses, and describe what constitutes an eligible expense under these rules
0-0 HS 321 - Course Introduction
6-6 Explain the extent to which dependent-care assistance benefits are taxed.
19-1 Explain the tax implications of corporate distributions to stockholders.
4-0 Chapter 4 - Overview
5-1 Explain the tax treatment of payments in connection with separation or divorce.
6-1 Explain the general rule regarding the income taxation of amounts received by gift or inheritance.
17-2 Describe the concept of material change in a life insurance policy, and explain how a material change can convert a policy into a MEC.
20-4 Describe the tax treatment of both limited partnerships and family partnerships.
14-5 Describe the applicability and calculation of the tax on net investment income; identify strategies minimizing exposure to it.
18-0 Chapter 18 - Overview
20-0 Chapter 20 - Overview
16-0 Chapter 16 - Overview
16-1 Describe the extent to which life insurance death benefits may be excluded from gross income, and explain how life insurance living benefits are treated for income tax purposes.
16-2 Explain the income tax treatment of disability income payments, benefits payable from medical expense coverages, and premiums paid for both personal and business life and health insurance.
16-3 Explain the tax consequences of life insurance with respect to transfers for value, lack of insurable interest, corporate distributions, charitable contributions, separation and divorce, additional compensation, and split-dollar arrangements.
16-4 Explain the income tax restrictions on certain amounts paid in connection with insurance contracts.
17-0 Chapter 17 - Overview
17-1 Explain what determines whether a life insurance policy is classified as a modified endowment contract (MEC).
18-1 Describe the characteristics of the corporate form of business, and explain its advantages and disadvantages.
18-2 Explain the requirements for the formation of an S corporation, and describe the advantages and disadvantages of being taxed as an S corporation.
18-3 Describe the requirements for incorporating a business under the nonrecognition provisions of the Code, and explain the respective roles of debt and equity in the corporate structure.
19-0 Chapter 19 - Overview
19-2 Explain the various requirements for treating stock redemptions as capital transactions.
19-3 Explain the attribution rules that apply to corporate stock redemptions.
19-4 Explain the requirements for Section 303 stock redemptions.
20-1 Describe the significance of being classified as an unincorporated business entity for tax law purposes, and explain both the aggregate and entity theories for taxation of partnerships and partners.
20-2 Describe the tax ramifications of forming a partnership, and explain how each partner is taxed.
20-3 Explain the tax effects to the partnership and the partners upon the retirement or death of a partner.
13-0 Chapter 13 - Overview
13-1 Explain how gain or loss on the sale or exchange of property is ascertained for federal income tax purposes.
13-2 Describe the rules for determining basis when property is acquired by purchase, exchange, gift, or inheritance.
13-3 Explain the rules with respect to like-kind exchanges of business or investment property.
13-4 Explain the rules with respect to nontaxable exchanges of insurance or annuity contracts.
13-5 Explain the rules for exclusion of gain when a principal residence is sold.
13-6 Describe the wash sale rules.
14-0 Chapter 14 - Overview
14-1 Explain what a capital asset is, and identify items that are not treated as capital assets.
14-3 Describe the special rule for taxation on the sale or exchange of depreciable or real property used in a trade or business.
14-4 Summarize the relationship between an asset's classification and its tax treatment for a sale or exchange.
10-0 Chapter 10 - Overview
10-1 Describe the difference between tax credits and deductions, and explain the tax credit for children.
10-3 Explain the tax credit for dependent-care expenses.
10-4 Explain the "American" opportunity credit and the "Lifetime" learning credit.
11-0 Chapter 11 - Overview
11-1 Explain what is meant by cost recovery, recovery method, and recovery period, and identify four basic conditions for the allowance of cost recovery deductions.
11-2 Describe several methods used to compute depreciation deductions for pre-ACRS assets, and distinguish depreciation from obsolescence.
11-3 Explain how accelerated cost recovery systems (ACRS and MACRS) allow the recovery of investment capital for income tax purposes.
12-1 Explain the limitations on passive activity losses and credits.
7-4 Explain the rules regarding the deductibility of expenses for home offices and vacation homes.
8-1 Explain the rules regarding the deductibility of losses.
8-2 Explain the rules regarding the deductibility of bad debts.
9-0 Chapter 9 - Overview
9-1 Explain the underlying principle regarding the deductibility of expenses, and describe the tax treatment of personal expenses.
9-3 Explain the tax treatment of long-term care expenses and insurance premiums.
5-0 Chapter 5 - Overview
5-2 Explain the tax treatment of annuities.
5-3 Explain the tax treatment of employee group life insurance.
5-4 Explain the tax treatment of property transferred in connection with the performance of services.
6-0 Chapter 6 - Overview
6-3 Explain the rules regarding the income taxation of Social Security benefits.
6-4 Explain the rules regarding the income taxation of accident and health benefits.
3-0 Chapter 3 - Overview
3-1 Explain the meaning of the term "gross income."
3-2 Explain the doctrine of constructive receipt.
3-3 Explain the economic-benefit theory.
3-4 Explain the principle of assignment of income.
2-1 Describe the pressure for revenues that led to the adoption of the 16th Amendment by Congress, and explain the Amendment's significance for modern tax law.
2-2 Describe the functions of the income tax system.
2-3 Describe the three basic sources of income tax law today, and explain the role played by each source.