TA I & II Self-Study Outline

Just some of the topics covered in the Bukers Taxanalysis Self-Study course along with the related exercises:

  • Recurring and nonrecurring items
    • How to incorporate their effects into your cash flow analysis
    • Simple adjustments for recurring and nonrecurring items
    • Paired adjustments
    • Investment adjustments
    • Typically nonrecurring items
  • Historical versus recurring cash flow and how to separately calculate each one, depending on your needs
  • Hidden cash flow and how to find it within a return
  • Non-cash expenses and where specifically to find and adjust for these throughout a return
  • Interest expense adjustments as they affect cash flow
    • How to properly arrive at Cash Flow Available to Service Debt
    • How to properly arrive at Net Cash Flow
  • The analysis of pass-through entities
    • Partnerships, LLC's and LLP's and REMIC's
    • S Corporations
    • Estates and Trusts
    • How to use the Schedule K-1s to correctly show the cash flow from each type of entity
    • How the Schedule K-1 must be analyzed differently for each type of entity¬†and why
  • Analyzing real estate activities on Schedule E
  • Capital gains and losses cash flow analysis under a variety of scenarios
    • When are capital losses real cash flow and when are they paper?
    • Split year purchases and sales and why they make a difference
  • Multiple pass-thru K-1s that can pass-thru interest, dividends, royalties and capital gains and losses that look like cash but aren't!
    • These are now widespread in tax returns these days
    • Failing to properly identify them and exclue each of these pass-thru's from your cash flows can lead to huge overstatements of cash flow and a bad loan
    • Learn how to spot all the various schedules where these items can pop up on a return and how to fix them and make sure your cash flows are correct!
  • How passive loss rules can drastically impact a cash flow analysis, if not handled properly
  • Net operating losses; cash or noncash and why
  • Section 179 Expense and how to handle it
  • Section 1031 like-kind exchanges and their cash flow effects
  • Fiscal year end pass-thru entities and how to factor these into your cash flows
  • The dangers of "blank" K-1s and how to avoid this trap
  • Investment interest expense
    • Three possible ways you can "wreck" the cash flow if this isn't handled right
  • Accrual to cash conversions

To order yours, click on the Brochures button below and select Bukers Taxanalysis I & II Self-Study.