Dealing with Debt & Interest ON DEMAND
Available Until
Your Desk
18.0 Credits
Member Price $396.00
Non-Member Price $455.00
Overview
This course brings the practitioner up-to-date information on tax issues dealing with debt and interest. It covers the definition of bona fide debt, the avoidance of equity and lease treatment, imputed interest rates, and debt modification. The various types of interest and their required allocation are explored and reviewed. For the economically troubled client, special attention is devoted to debt cancellation, repossession, discounts, and foreclosure. The program also discusses installment sales, equity participation debt, taxable interest, and bad debts.
Highlights
Deductible Interest and Debt. Allocation of Deductible Interest. Home Mortgage Interest. Taxable Interest. Installment Sales. Repossession. Debt Cancellation and Foreclosure. Equity Participation Debt. Foreign Interest Withholding. Bad Debts.
Prerequisites
None.
Designed For
CPAs, financial professionals, enrolled agents and attorneys.
Objectives
Determine “interest” and select how much is tax deductible under Section 163. Determine the allocation of deductible interest based on the use and repayment of the loan proceeds and identify the special rules for the allocation of interest expense in connection with debt-financed acquisitions of, and distributions from, partnerships and S corporations, and more. .
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Danny Santucci, Western CPE
Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known for spicing up his extensive expertise with an incredible sense of humor.
Non-Member Price $455.00
Member Price $396.00