Greg and George will cover important concepts you can use in your daily practice. Phantom income (transactions that produce taxable income but don’t provide cash) You’ll leave the course more comfortable with important principles that underlie tax practice. Purchases of a businesses and sales of a businesses.
Recognizing when phantom income is likely to arise. The “Cohan rule”-deducting estimated expenses. Using reasonable allocations to avoid “spinning your wheels” on detail. Using the “primary purpose” test to determine the nature of deductions. Avoiding “phantom income.”
CPAs and tax practitioners.
Identify circumstances likely to result in phantom income. Identify the availability of the “Cohan rule” to make reasonable estimates of expenses when no reliable evidence of the exact amounts. Use reasonable allocations to quickly complete tax returns. Maximize losses on the administration of an estate. Use written allocations to ensure that desired tax outcomes will be achieved.
4.93 stars out of 5
“These 2 rock. [They are] prepared and knowledgeable.”
“George & Greg always do a great job! They are always super helpful.” - past attendees
George Koutelieris, CPA, is a shareholder with the firm Johnson & Shute P.S. He subsequently received his Master’s in Taxation from Golden Gate University graduating with Highest Honors in 2010 and being awarded the Outstanding Graduate Tax Student Award for the Seattle campus of Golden Gate. He is currently an Adjunct Professor at Golden Gate University teaching various tax courses. George’s practice includes planning and consulting on complex transactions including formations, liquidations, mergers and acquisitions, purchase and sales, multi-state and international tax for closely held businesses and their owners. In addition, George provides compliance and representation services before the IRS and various state taxing agencies for clients. George is also an active speaker on various tax topics, having presented in the past for Golden Gate University, the Washington Society of Certified Public Accountants, and the Oregon Society of Certified Public Accountants. George Koutelieris and Greg White are available to teach in-house courses in tandem for company CPE needs.
Non-Member Price $94.00
Member Price $79.00