Capital Gains and Loses
Product ID : NICK-0014
Level : Intermediate
Duration : 60 Minutes
Nick Preusch CPA, JD, LLM, is a tax manager with PBMares, LLP. Nick has participated in helping high wealth individual and large business entities with complex tax compliance, along with specializing in international, not-for-profit tax issues, and tax ethics issues.
Nick has also worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nick is a graduate of Carthage College with a BS in Accounting and Business, University of Connecticut with a MA in Accounting, Case Western Reserve University with a JD, and Georgetown University with an LLM in taxation. Nick has also authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties, and Circular 230 Enforcement, published by Thomson Reuters. He has lectured nationally on topics such as ethics, complex tax transactions, and IRS practice and procedure.
Currently, Nick is an
adjunct professor at the University of Mary Washington. Nick has been
recognized as the Top 5 Under 35 CPAs in Virginia by the VSCPA in 2017
and CPA Practice Advisor’s Top 40 Under 40. He is a member of the
VSCPA’s Tax Advisory Committee and Ethics Committee, and the AICPA’s Tax
Practice and Responsibilities Committee.
This webinar will do a quick in-depth deep dive into capital gains. We will look at what they are, how do they come up, and how taxpayers can take advantage of the tax code to lessen their impact. We will start up by defining what is a capital asset. This is usually an easy question, but it can be difficult when we look at things like partnership interests and disposition of partnership interest. We will then look at holding periods. Typically, capital assets with a holding period of 1 year or more are long term and get beneficial treatment versus short-term, which is taxed at the ordinary tax rates.
We will also look at how to make the calculations for capital gains and losses while considering how it differs betweens types of entities. We will also look at the capital gains tax rates. Finally, we will finish the webinar up with a discussion of 1031 exchanges and installment sales.
- Capital Assets
- Holding Period
- How to computer losses and gains
- Capital Losses
- Capital Loss Carryovers
- Tax Rates
- Deferral Techniques
Course Level - Intermediate
Who Should Attend
CPA, EA, Attorney and Tax Professional
Why Should You Attend
Many taxpayers have many investments in different things, whether it's stocks and bonds or it's a baseball card collection. People need to know the impact of selling anything that could be considered capital gains. In addition, people often want to know how to delay paying these taxes through various means, such as installment sales, or 1031 exchanges. This webinar will take you through the ins and outs of being able to identify capital gains, tax planning opportunities, and deferral of capital gains as well.