CPAR Taxes

The Benefit of Giving and the Heart of the IRS

It is human nature to help our families, our neighbors, and charitable organizations by volunteering our time, making gifts in kind or donating money. While charitable giving can be a tax planning strategy resulting in a tax deduction, receiving a gift can trigger a taxable event, depending on the nature and amount of the gift. Taxpayers often confuse a gift with a donation, but taxwise, giving has various ramifications. Barbara Weltman, president, Big Ideas for Small Business, talks about gifts in a business context and how to distinguish when a transfer from a business associate is or is not considered “giving.

Learning Objectives:

  • Distinguish between the deductibility guidelines for a charitable contribution and a gift,
  • Recognize the changes under the CARES Act regarding coronavirus distributions and loans from retirement plans,
  • Determine how tangible property can be treated as a QOZ, and
  • Identify the scope and objectives of Internal Revenue Manual 10.10.1.

Prerequisites/Advanced Preparation:

Work experience in tax planning or tax compliance, or an introductory course in taxation.

Speaker / Author:

Barbara Weltman, President of Big Ideas for Small Business


Price (USD)

Standard: $69.90


Course Code : CPAR1469-FM

Release Date : 10/22/2020
Expire Date : 10/10/2021
Credits :
CPE 2.00
QAS 2.00

Length : 1hr 40min
Course Level : Update
Course Type : Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Taxes

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